Securities Remittance Instructions
Remittance Prior Notice
Five days prior to delivery of securities, you must e-mail your intent to deliver to Delaware’s custodian via an Excel Document containing the issue name, CUSIP, ticker symbol, number of shares, and the delivering party’s DTC participant number and/or delivering party’s information.
Please email the Excel list to Delawarecustody@kelmarassoc.com and escheat.holderquestions@delaware.gov.
Registration and Delivery of Stock
When possible, stock, including foreign stock, should be delivered via Automated Customer Account Transfer Services (ACATS) to:
Wells Fargo Clearing Services, LLC
ACATS Participant #0141
Reference: State of Delaware Main Account
Account # 3294-9051
If stock cannot be delivered via ACATS, alternate electronic methods such as DTC Free Delivery, DRS or DWAC may be used. If stock cannot be delivered electronically, stock may be registered in Book Entry Shares/Direct Registration Shares (DRS).
If stock cannot be delivered via ACATS, DTC, DWAC, or DRS, please contact Delawarecustody@kelmarassoc.com for alternate delivery methods, including foreign delivery instructions.
Physical Certificates should only be sent for stocks which cannot be sent via ACATS, DTC Free Delivery, DWAC or DRS, and must be registered as stated below:
State of Delaware Main Account
Acct # 3294-9051
FEIN # 51-6000279
820 North French Street, 8th Floor
Wilmington, DE 19801
Physical certificates must be sent via certified mail. The certificates must be mailed to:
Kelmar Associates, LLC.
ATTN: Kelmar Custody 500 Edgewater Drive, Suite 525
Wakefield, MA 01880
For Certificates not in the name of “Delaware”, they must be negotiable with all required documents for re-registration into the name of “Delaware” including signed stock power, letter of authorization allowing re-registration to Delaware, and corporate resolution or the certificates will be returned.
Registration of Mutual Funds
Mutual Fund Transfer via ACATS:
When possible, mutual funds should be transferred via ACATS as stated below:
Wells Fargo Clearing Services, LLC
ACATS Participant #0141
Reference: State of Delaware Main Account
Account # 3294-9051
Mutual Fund Direct Transfer:
For mutual fund shares unable to be transferred via ACATS, please contact Delawarecustody@kelmarassoc.com to obtain a fund account number.
If an “Omnibus Account” is provided as a fund account for mutual funds, please reference Bin# 3294-9051 during the delivery.
CASH option must be selected for all dividend and capital gains registration.
Closed-End Funds
Closed-end mutual funds must be transferred using the above instructions for Registration and Delivery of Stock.
Dividend Reinvestment Plans (DRP)
Dividend Reinvestment Plan (DRP) accounts should be closed prior to reporting. Fractional shares must be liquidated, and the proceeds should be included with your annual report and remittance. Liquidate fractional shares at the property level; do not total fractions for all owners prior to sale. When reporting proceeds from fractional shares, the cash value should be reported as cash for fractional shares for each individual owner using NAUPA code SC09. Whole shares should be remitted via ACATS to our custodian as noted above.
Worthless and/or Non-Transferable Securities
Worthless securities should not be reported until the securities become transferable or have gained value (and are not worthless). Non-transferable securities with value should be liquidated by the holder, and then reported and remitted as the cash proceeds.
Important: Worthless securities should not be reported until the securities become transferable or have gained value. Also, the State Escheator may decline to take custody of a property reported under 12 Del. C. § 1142 that meets the criteria listed in 12 Del. C. § 1155(a).
Worthless Shares Definition: Cost to deliver or receive the security exceeds the value are deemed non-transferable (i.e., chilled, frozen, restricted, etc.). Nonfreely transferable security also includes a worthless security. For more information, see 12 Del. C. §§ 1130(17) and 1130(32).
Non-Transferable Securities / Cannot Be Held: There are a handful of non-worthless securities that “cannot be held” by the state’s custodian. As the State of Delaware does not allow shares to be placed into external house accounts, in this situation, the shares should be liquidated, reported as cash, and the proceeds sent directly to the State per the cash remittance instructions.
Contact Information Send all questions pertaining to securities registration and instructions to Delawarecustody@kelmarassoc.com.
Common Errors or Issues for Securities Property
- Five days prior to delivery of securities, holders must e-mail their intent to deliver to Delaware’s custodian via an Excel Document containing the issue name, CUSIP, ticker symbol, number of shares, and the delivering party’s DTC participant number and/or delivering party’s information. Please email the Excel list to Delawarecustody@kelmarassoc.com and escheat.holderquestions@delaware.gov.
- Timely remit all reported property, including transferring all shares, when report is filed.
- Report accurately only the shares the holder intends to report.
- Do not report or remit worthless shares.
- Liquidate nontransferable securities with value and report and remit the cash value.
- Do not report or remit OFAC-restricted property.
- Transfer shares only to the State’s securities account and do not transfer shares to “house” accounts.
Timely respond to all requests by OUP to resolve reporting issues.