Company Stocks Force Sold on Maturity?

akira181

I worked for a company between 2008 and 2013 and took part in a matched contribution stock ownership programme.  I wasn't really wise with money back then and it was all in German (literally, I worked in Germany), so I never really understood the details.  Just it was a good deal according to my colleagues so I signed up.  I do remember something about the company contributions becoming mature after 5 years though, didn't realise that meant they would be sold automatically though as I'd have happily held onto them.

I've since moved back to Scotland during this time and forgot all about it until now.  I contacted them and they told me my shares were "forcibly closed by the shareholder service after the deadline, Dec 2018, and the shareholder service are holding my funds."

I'm currently filling out the forms to get the funds transferred back to me, including a W8 tax form as the shareholder service is in the US.  They haven't told me what the final value is but I think it should be around 8-10k.  I'm assuming it's not like a dormant bank account where you can get the interest reclaimed too but is there anything I should be checking/asking beforehand?

Edit* not sure is maturity the right word, I still don't understand stocks

george4064

Sounds like you were participating in a Share Incentive Plan (SIP)? 

Not sure if the same tax rules apply (since your company is German) but shares held in a SIP for 5 years are tax free (no income tax or National Insurance) but when you come to sell the shares they will be subject to CGT.