Form 587368 - Wellstrade Customer Account Transfer Page 6
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6E - Annuity Liquidation. Annuities cannot be held in WellsTrade accounts. Your transfer choices are:
•
Immediately – You can request the annuity be surrendered (cashed-in) and the proceeds transferred as cash
immediately. There may be penalties, fees, tax implications, and a change in listed beneficiates.
•
Percent or Amount – You may request a specific amount be liquidated and transferred as cash. There may be
penalties, fees, tax implications, and a change in listed beneficiaries. If this section is left blank, the entire
amount will be liquidated.
•
Penalty-free amount – You may request only the portion that carries no penalty be liquidated and the proceeds
transferred as cash.
4.
Section 4. Individual Assets. Only use this section to list specific assets for partial account transfers, mutual fund
transfers, and/or to request specific assets be sold and the proceeds transferred as cash. DO NOT use this section for
the following types of transfers: Transfer Entire Account, Liquidate Certificate of Deposit (CD), or Annuity Liquidation.
5.
Section 5. One and Same Name Certification. Complete this section if there is any difference between the owner name(s)
on your WellsTrade account and the account you are transferring, but there is no actual change in ownership. For
example:
a.
John E. Doe and J. Edward Doe is the same person, but one account uses an initial.
b.
Mary Jones and Mary Smith is the same person, but one account uses married name.
6.
Section 6. Authorization to Change Ownership.
a.
Complete this section if you intend to change the registration or ownership of your account. This may result in a
change in ownership rights and may change the primary social security or tax ID number on the account.
Retirement accounts are not eligible for this type of transfer. Please call us at 1-800-TRADERS with questions.
b.
Your old firm may require additional documents or paperwork to change the registration to the WellsTrade
account. Depending on the specific type of change, they may ask for a letter of explanation and/or legal
documents (for example, marriage/divorce certificate, updated trust document, or proof of age such as birth
certificate or driver license). Please call us at 1-800-TRADERS with any questions.
7.
Section 7. Acknowledgement & Signatures. All owners of both accounts must sign and date.
587368 (Rev 06 – 04/14) Page 5 of 5
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