Help. Shareholding in Australia

pipmoss

Hi all

I am trying to get a shareholding transferred into my name.

Both my late Father and Late Brother had shares in CBA. The shares are managed by MUFG corporate markets.

I am the sole executor of both estates.Both Father and Brother died intestate.

I have had to use an Australian solicitor to do a reseal of probate in Australia which was completed almost 12 months ago.

I have filled all the relevant forms in along with copies of death certificates.

I am getting absolutely nowhere with MUFG with regards the transferring of shares. The Investor app asks for a hin/srn number which I need to obtain from MUFG, but again it is impossible to obtain despite jumping through many hoops.

I have emailed complaints department but again my issues appear to fall on deaf ears.

Has anyone in the UK had any luck in obtaining a hin/SRN number ?

Sorry for being so long winded but I am at my wits end as how to proceed further.

Many thanks in advance.

eskbanker

Are you definitely wanting to retain these shares, e.g. for sentimental reasons?

Just wondering if it might be easier to sell them than to transfer them?

Keep_pedalling

Do you really want the same difficulties when you want to try to sell them or leave the same problem for your executors when the time comes?

Not sure if it is any easier but I would sell them within the estate rather than transfer especially as individual shares are high risk as well.

wmb194

https://forums.moneysavingexpert.com/discussion/6679927/help-shareholding-in-australia

Probably too obvious but just in case; what's been happening with the dividends? Have you been sent any dividend vouchers or other documents which might have the numbers you're looking for on them?

"A HIN or SRN can have up to 12 characters, usually starting with an 'X', 'I' or 'C' followed by up to 11 digit number, for example 'X00012345678' or 'X12345678'. 

The HIN or SRN can be found on the top right hand corner of your holding statement and other shareholder communications. 

A HIN, being Broker sponsored, commences with an 'X'. If you have an account number from a CHESS statement you will need to add an 'X' to the front of the account number before logging in. 

A SRN, being Issuer sponsored, commences with an 'I' or 'C'. You will need to enter the 'I' or 'C' followed by the 11 digit number before logging in. 

Important note - your HIN/SRN identifies you as the owner of your securities and should be stored securely."

https://au.investorcentre.mpms.mufg.com/OpenAccess/Help?from=OpenAccess_HinSrn

pipmoss

Hi thanks for the replies.

I didn't know that you could sell them within the estate that is something for me to look into. As for the dividends my late brother's were paid into his bank account but there is no sign of a dividend statement with HIN/SRN number. I have received a dividend statement but the numbers are only on a holding statement which I do not have. I would just like to sell these shares in order to get "closure".

My main issue is trying to get an answer from MUFG who appear to be next to useless.

There is the investor app which does not get great reviews on the Play Store. When you create an account it asks for these numbers which I do not have.

Whenever you email you get a generic we will reply within 5 working days but the reply never comes. I've tried live chat which is just as bad as after speaking to a "bot" you finally talk to an agent but again they are no use whatsoever.

I have raised a formal complaint but again you get the generic email response.

Many thanks

UKTaxHelper

One to weigh before deciding: sold inside the estate the gain gets the estate's flat rate, transferred out first it's your own allowance and your own rate, which is lower if you're a basic rate payer.

poseidon1

https://forums.moneysavingexpert.com/discussion/comment/82104618#Comment_82104618

OP you are not making much headway with MUFG but wish to sell the shares as soon as you can, since you have an Australian sealed grant of probate you could try to reach out to an Australian broker to navigate a sale on your behalf.

Example of such brokers below -

https://www.sellmyshares.com.au/selling-shares/sell-deceased-estate-shares/

https://www.sellmyshares.com.au/selling-shares/sell-company-shares/sell-cba-shares/

https://unbroker.com.au/learn/executors-step-by-step-guide-to-selling-shares-from-an-estate/

You will of course still need the relevant SRN numbers for each estate holding, but an Australian broker maybe able to assist where you have failed to make headway with MUFG.