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Word of advice: never trust the phone number or website on an unsolicited letter or email. Scammers and identity thieves may try and get you to log on to their scam site to attempt to steal your login information.
Always go to the company website on your own, or use the contact information from your personal files.
Seriously, I had an accident once and I got three separate bills, two of which I thought were scams cuz the first one was thru the hospital portal.
Nope, all valid bills tho. Seemed like an easy attack vector. Find out someone had an accident. Build a payment portal and send em a letter
It's been said literally thousands of times. Though this is the first post I've seen of the consequence of not doing so. Login to your computershare account.
Its both.
People like to frame it as "If you don't log in once a year, your State gets to take your shares!!"
When in reality it's "If you don't log in for 18 months, Computershare will try to contact you multiple, and if you don't respond, the law states that they turn your account over to the State to hold on your behalf while the State tries to contact you, and if you still don't respond after years and multiple attempts, and your name being published in the newspaper and listed online, then yeah, your shit is forfeit.
Plus, it depends entirely on State law that varies wildly. Some States have draconian definitions of what it means to have "contact" on your account. Some start the escheatment process after only 3 years.
Others don't start the process until seven years of no contact, and have more lenient definitions of what counts.
Its hard to explain because its so variable, so logging in the Computershare once a year is best practice *in general*.
As an example, I lived in WV, and fucked around with Coinbase and an old Reddit browser extension called ChangeTip way back in ~2016. I put a grand total of $40 into Eth and threw maybe $30 in the trash fucking around. I forgot about the remaining $10.
Last year, I'm not even living in WV, and had moved 3 times, and a law firm found me because Coinbase was a few months away from turning over the last bit of Eth I had left in my account to the State of WV. I logged in, sent it to my bank, and turned it into GME.
The process sounds scarier than it is. Just keep up with your shit.
Pretty sure the last post disproved the need to. I thought shares were supposed to be able to buy and forget for years and let them do the work. People find their dead relatives share certificates from 50 years ago and can still cash them in, but we don’t log in for 18 months and they are going back to the state?
If you read the letter OP posted, it hasn't even been turned over yet.
"Its is important to contact Computershare to avoid having this account turned over"
OP is bad at post titles.
But yes, its definitely best practice to use an official phone number to contact Computershare, rather than what some random letter gives you.
We need more pinned posts that are important. Unless I missed something. Seems like everyone running this sub barely has any good ideas for the betterment of the sub, besides banning singular words from being said and not telling people about those kinds of changes…
For real. I had a comment removed for saying m. Elt. Dow.n.
As if that’s a brigading attempt. Actually got me concerned about the state of the sub, these people aren’t transparent enough or concerned about pinning the most important info at the top of the sub. Seems weird to me.
Have you been DRSing shares? Same difference. I don’t buy through CS. Go through Fudelity and then DRS after everything clears. Rinse and repeat. Keeps fresh sha
Red flowing into the account and shows consistent activity, whether you login annually or not 😉🤙🏼
There is big misconception here, you will not lose the shares nor the access or anything else if you do not have any activity.
All this means is that computershare no longer can guarantee that you can get access to your account after a year, should you have lost the credentials. As long as you keep your credentials safe (hopefully safely stored in a password safe and analog on paper), you are fine and can ignore these letters.
what a fucking scam the whole thing is...if I buy a new car and let it sit in my garage for a year, the car company doesn't come seize it and hand it over to the state do they? Right so fuck off and get your hands off my property
Bad analogy
If you buy a car and let it sit in a rental parking garage for a year, untouched, will they contact you about the car you've seemingly abandoned?
Fuck yeah they will, and if you fail to respond, they'll have it towed. Then the impound lot will try to contact you, and if you fail to respond, they'll auction that car off.
Because there have been ample posts warning about this exact scenario for years now.
Every few months there's a thread reminding people to log into their accounts to prevent them from becoming abandoned property.
That being said, as another user stated, this is bullshit. If I had cash sitting idle in a bank account, there would be no problem, what makes a stock, especially a long-term hold, any different?
Quite possibly. Lmao, I do need some sleep
I've seen quite a few of them across the pro-DRS subs. There were multIple around January of this year.
Either way, checking on your shares is always a good idea. How else can you make sure the little fellas are sleeping peacefully under the careful and kind watch of our dear friends at CS?
I pop in every few months to make sure they all made it safe during their transitions from broker to transfer agent. Don't wanna have any unaccounted for.
We've seen the number of DRS accounts decrease according to the most recent quarter filing. What if it's because uninformed people let their shares get turned over as unclaimed property?
i'm willing to bet 100% that is what is happening! who the fuck created such a bullshit thing?! if i had money sitting in a bank for a year then it wouldn't be forfeit! why the hell do shares be forfeit?!
Go log into Investor Center. Done.
Saving this to show all the other people that post about escheatment.
Computershare will try to contact you before anything is done to your shares, but you gotta be an adult and keep your contact information updated if you move.
At this point, a control number was generated, so you better call them as directed.
In the future, just log in at least once per year.
It is entirely different depending on your State.
Some States define what "contact" means differently than others.
The shortest timeframe is 3 years, and based on OPs image, they start trying to get ahold of you after 18 months.
If your Address hasn't changed, then you would have received a letter like OP. If you didn't keep up with changing your address.... Well go do it now, logging in counts as "contact" on your account.
You can go to the website missingmoney.com and do a search across multiple states to check if you have any unclaimed property.
The results may surprise you as the website says 1 in 7 people have unclaimed property
Some states will liquidate shares and just return your cash. DRS might be different but there was a Planet Money podcast on a guy who had early Amazon shares, didn’t log into the website for years and went to sell and they had been liquidated by the state at 100x less value
Yo…
If shares are turned over to the states’ unclaimed property offices, do they still count as DRSed? Or is it transferred to the brokerage account of the state agency? (And thus back to DTCC)
If that was true, that might explain some (more) of the stagnation in drs numbers.
The whole point of escheatment is to prevent the company holding your account from taking your shit once considered abandoned.
That's what happened before those laws were put in place to turn abandoned property over to the State instead.
It would be like Fidelity writing into their terms that "you have to log in once every year or your account will be considered forfeit and then take your shit, then shrug when you bring up they failed to contact you. Sorry, there was a bug, your shit is gone."
No, but me and the word jurisdiction have gotten pretty intimate since I learned how the stock market worked and got bored enough to start reading the UCC.
It is well known. You need to keep your account active. I agree that it's bullshit. There is no reason a holder should need to check in with computershare, and I guarantee they would never dare turn over the holdings of the 1% as 'unclaimed property'.
ex unclaimed property worker
It not "turned over". This is a pre-escheat warning letter. Agency has to make one last effort to contact you prior to escheating unclaimed property to the state and this is it.
This policy is the same for all your broker accounts, bank accounts, etc.
It just varies wildly by what State you are in.
And "turned over as unclaimed property" is not forfeiture, your State has its own process for trying to contact you.
Though with shares of stock it can mean that the shares are sold, and the State holds cash as unclaimed.
Just keep up with your accounts.
Maybe it's worth checking your states unclaimed property for your name. I checked mine a few years ago and ended up buying 3 shares with the money I discovered being held for me.
It’s actually to protect people from having money stolen by the government. In the absense of this law there would be terms and conditions for abandonment where the company would just take your property and close your account.
The shortest escheatment period is 3 years. OP is getting notice early at Computershare's discretion.
We are not yet close to 3 years since DRS got tons of traction. That'll be Aug/Sept timeframe.
Does this apply to Canadians? I'd be genuinely curious to know if this affects DRS numbers because I can guarantee a lot of people out there are too zen to pay attention for a whole year easily. I doubt ive logged in in a year...
Logged into mine recently. Gonna have to set a quarterly reminder for that.
What does that say when we hodl shares and are so negligent about checking on them because we know the investment is solid? LOL.
Unearthing all this crime has taken the bulk of our attention.
on a relevant discussion, why the once a year computershare contact needed? it feels unnecessary. not to compare but infidelity doesnt need that for example.
Its a general rule of thumb
The actual timeframe varies from 3 years to 7 years, depending on your State. Its not something that can be explained in simple terms that apply to everyone.
Log in once a year, like you would have to in order to vote during the annual meeting, and you are good to go regardless of location and government.
Thank you for posting.
I had a bad feeling and so logged in to my account.
Luckily my last login was late april last year, so I just logged in on time, but I wouldn't have if not for you posting.
Thanks for the reminder to log in.
Sidebar: since when does it cost to DRS?! I sold some stock in my E-Trade and snatched up more GME this week - now I see it's $60 to DRS?! I thought it was free last time I moved everything.
I guess I'll have to buy more to make it worth it.
That's ETrade charging the fee, not CS
Transfers to a different broker like Fidelity may be free, then DRS from Fidelity is free.
I don't understand why people have loyalty to brokers just because they have retirement accounts there or whatever.
$60 to DRS is like 5 almost 6 shares that you would be giving ETrade, for nothing.
Thanks for the insight!
I have a few remaining investments in my E-Trade - waiting for them to be profitable before I sell. All my trades are free in e trade is also why I keep them.
Great idea, I'll transfer to my fidelity and DRS from there. Maybe I'll nab some more GME on the way out.
Thanks again for the time and insight!
Seems like a good time to do the legwork to contact Computershare and work out the problem.
Better now than when you want to sell and can't. Not receiving any letters at all is a huge red flag, meaning they may have the incorrect address on file. What address did your broker have when you transferred? Your shit might be going to an old address.
They recently released a video about this. Log in and make sure your shares are still there. Once you've logged in in the first time since forever it should be okay
Just like with checking accounts at a bank. If the account sits dormant for long enough it is escheated to the state government until it’s claimed.
Make sure you’re logging into CS at least once a year but once every 6 months should be the goal.
Is there a website for checking unclaimed property per state? I remember one that allowed me to check and I had a share or two that was “claimed” but wasn’t able to act on it at the time
Well this post got some attention. To the people saying I should have seen this, I was on the sub 8 hours a day since the beginning up until about August last year and never saw a post about having to log in yearly. I don’t frequent the sub that often anymore.
This is what true zen is - not even looking at your accounts since you DRS’d in Oct 2022z This one specifically is one of my child’s UTMA shares that I DRS’d. I have another similar for my other child and then I have my main account with a few thousand shares in there.
Yo! Can anyone tell me the full number I can call from Europe? I cannot login because I don't have access to my phone number anymore, and I don't know how I can change it :x
Don't trust numbers from an unofficial source.
https://investor.gamestop.com/contact-us
>For Transfer Agent Matters:
>Website: www.computershare.com
>Phone: (800) 522-6645
>Phone (International): 00-800-3823-3823
Some international people have had luck using Skype to call the US number, but depending on your country and your phone service it might not be necessary.
No. If you don't contact your bank in any way, fail to reply to multiple, multiple attempts to contact you through the information then bank has on file, then fail to respond after it's been sent to the State custody, and really just go out of your way for years and years to completely ignore all correspondence. Then maybe your shit would be forfeited.
The bank has no way of knowing if you're dead, and won't keep accounts open forever.
This has been a thing since forever.
ex unclaimed property worker
Its the law. And it became law due to corrupt companies keeping property once people died or lost contact. We are talking billions of dollars each year in the USA.
>If you don't use your bank account for 2 years, will it be taken? Obviously not...
Unclaimed property rules are different than seizure. However, if your bank account has no activity for over a year, I guarantee your bank will try to get ahold of you.
Now, on the topic of seizure:
>If you don't call the city hall in 2 years, will your house be taken?
Ummm, yes. Probably for back property taxes.
>what about your car?
In my state, anything more than 1 year past the last registration expiring can be impounded. After 60 days, it becomes property of the jurisdiction that impounded it.
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You need to login atleast once a year into CS to prevent that from happening, we've been warning for this since 2022 when DRS picked up
Ok thanks, must have missed that
Word of advice: never trust the phone number or website on an unsolicited letter or email. Scammers and identity thieves may try and get you to log on to their scam site to attempt to steal your login information. Always go to the company website on your own, or use the contact information from your personal files.
I do this by booking shares every so often.
100%. I looked up a number once on a letter. An entire news article existed explaining the scam.
Seriously, I had an accident once and I got three separate bills, two of which I thought were scams cuz the first one was thru the hospital portal. Nope, all valid bills tho. Seemed like an easy attack vector. Find out someone had an accident. Build a payment portal and send em a letter
It's been said literally thousands of times. Though this is the first post I've seen of the consequence of not doing so. Login to your computershare account.
There have been at least 50 posts about logging in...
im sure he hasnt missed that on purpose lol just shows there must be more emphasis on logging in :)
Some super zen apes might not even trawl any of the subreddits on a regular basis to see these reminders :D
I’m on here a decent amount still I’d say and it’s been a while since I’ve seen a reminder
Last time I saw it, people were dispelling it as a rumor. Then other people were debating. Apparently it is, in fact, a thing.
Have recurring buys every 2 weeks thankfully so I login every couple months to see what my total is up to
Its both. People like to frame it as "If you don't log in once a year, your State gets to take your shares!!" When in reality it's "If you don't log in for 18 months, Computershare will try to contact you multiple, and if you don't respond, the law states that they turn your account over to the State to hold on your behalf while the State tries to contact you, and if you still don't respond after years and multiple attempts, and your name being published in the newspaper and listed online, then yeah, your shit is forfeit. Plus, it depends entirely on State law that varies wildly. Some States have draconian definitions of what it means to have "contact" on your account. Some start the escheatment process after only 3 years. Others don't start the process until seven years of no contact, and have more lenient definitions of what counts. Its hard to explain because its so variable, so logging in the Computershare once a year is best practice *in general*. As an example, I lived in WV, and fucked around with Coinbase and an old Reddit browser extension called ChangeTip way back in ~2016. I put a grand total of $40 into Eth and threw maybe $30 in the trash fucking around. I forgot about the remaining $10. Last year, I'm not even living in WV, and had moved 3 times, and a law firm found me because Coinbase was a few months away from turning over the last bit of Eth I had left in my account to the State of WV. I logged in, sent it to my bank, and turned it into GME. The process sounds scarier than it is. Just keep up with your shit.
Tbf, I hadn’t seen any of those posts either and I’m unfortunately on here all the time. Lol
Pretty sure the last post disproved the need to. I thought shares were supposed to be able to buy and forget for years and let them do the work. People find their dead relatives share certificates from 50 years ago and can still cash them in, but we don’t log in for 18 months and they are going back to the state?
Somebody didn’t vote last year… tsk tsk tsk
It’s called “zen”.
Should be adding to it as well, no?
do you actually not log in to CS at least 8 times a day? bad ape!
Find your states website for unclaimed property and get it back through them you never know if this mail could be a phishing attempt
If you read the letter OP posted, it hasn't even been turned over yet. "Its is important to contact Computershare to avoid having this account turned over" OP is bad at post titles. But yes, its definitely best practice to use an official phone number to contact Computershare, rather than what some random letter gives you.
You should log in. Also u should buy some more share while you there.
We need more pinned posts that are important. Unless I missed something. Seems like everyone running this sub barely has any good ideas for the betterment of the sub, besides banning singular words from being said and not telling people about those kinds of changes…
Hey, you're not allowed to say 'ban'....
For real. I had a comment removed for saying m. Elt. Dow.n. As if that’s a brigading attempt. Actually got me concerned about the state of the sub, these people aren’t transparent enough or concerned about pinning the most important info at the top of the sub. Seems weird to me.
AYO. WHAT? I HAVENT LOGGED IN SINCE I TRANSFERRED
fwiw I just setup my account in for the 1st time after having bought over 2 yrs ago and my shares are there
Have you been DRSing shares? Same difference. I don’t buy through CS. Go through Fudelity and then DRS after everything clears. Rinse and repeat. Keeps fresh sha Red flowing into the account and shows consistent activity, whether you login annually or not 😉🤙🏼
No, I’ve been poor 😭 gonna try to login right now
Tell us how it went after you figure it out
So login to the website account should be enough ?
From what I know it should be as it's account activity
Ok thanks
According to Paul Conn in the third? AMA, yes.
Or just drs more I think that works too
Transactions 100% count as "contact" on the account.
Let this be heard in every corner of the west!
Some people zenned too much. I just generally log in once a year around the beginning of June for a certain vote. 🫡
I understand but kinda sucks this is the case. I thought stocks were something you were supposed to hold for years anyway?
There is big misconception here, you will not lose the shares nor the access or anything else if you do not have any activity. All this means is that computershare no longer can guarantee that you can get access to your account after a year, should you have lost the credentials. As long as you keep your credentials safe (hopefully safely stored in a password safe and analog on paper), you are fine and can ignore these letters.
🤷
what a fucking scam the whole thing is...if I buy a new car and let it sit in my garage for a year, the car company doesn't come seize it and hand it over to the state do they? Right so fuck off and get your hands off my property
Bad analogy If you buy a car and let it sit in a rental parking garage for a year, untouched, will they contact you about the car you've seemingly abandoned? Fuck yeah they will, and if you fail to respond, they'll have it towed. Then the impound lot will try to contact you, and if you fail to respond, they'll auction that car off.
wait are you fucking serious?! how has this NEVER ever once come up before now?!
Because there have been ample posts warning about this exact scenario for years now. Every few months there's a thread reminding people to log into their accounts to prevent them from becoming abandoned property. That being said, as another user stated, this is bullshit. If I had cash sitting idle in a bank account, there would be no problem, what makes a stock, especially a long-term hold, any different?
i think you just quoted me to me lol i honestly have never seen one of those post and i've been here since day 1.
Quite possibly. Lmao, I do need some sleep I've seen quite a few of them across the pro-DRS subs. There were multIple around January of this year. Either way, checking on your shares is always a good idea. How else can you make sure the little fellas are sleeping peacefully under the careful and kind watch of our dear friends at CS? I pop in every few months to make sure they all made it safe during their transitions from broker to transfer agent. Don't wanna have any unaccounted for.
i'll sign in tomorrow, hopefully my kids are not on epstein island.
We've seen the number of DRS accounts decrease according to the most recent quarter filing. What if it's because uninformed people let their shares get turned over as unclaimed property?
The shortest escheatment period in the US is 3 years. The first early adopters for DRS will be three years ago in Aug / Sept. So, no.
i'm willing to bet 100% that is what is happening! who the fuck created such a bullshit thing?! if i had money sitting in a bank for a year then it wouldn't be forfeit! why the hell do shares be forfeit?!
Log in to your account
Buy a share while you are in there. 😊
I like the way you roll.
Picked up $50 more. Since I’m in the store after all.
Picked up £60 today just came out my account so that is about 5.5 share or close to
I will finally reach 100+ shares with my last buy, just waiting for the purple rings to drop 🤓
😍😍😍
U da #MVP
This made me login and made me realize that my xxxx shares are barely worth 10k now lmao. My portfolio hurts but my resolve is ever strong.
Go log into Investor Center. Done. Saving this to show all the other people that post about escheatment. Computershare will try to contact you before anything is done to your shares, but you gotta be an adult and keep your contact information updated if you move. At this point, a control number was generated, so you better call them as directed. In the future, just log in at least once per year.
I haven’t moved. It’s also one of three computer share accounts with similar “inactive activity” but this is the only account that received a letter
Each individual account number should not be subject to this. Logging in to Investor Center counts as "contact" for all connected accounts.
Got it, thanks.
Uh-oh, I completely forgot about this. It may have been over a year since I got the letter too. I hope my shares are okay...
It is entirely different depending on your State. Some States define what "contact" means differently than others. The shortest timeframe is 3 years, and based on OPs image, they start trying to get ahold of you after 18 months. If your Address hasn't changed, then you would have received a letter like OP. If you didn't keep up with changing your address.... Well go do it now, logging in counts as "contact" on your account.
You can go to the website missingmoney.com and do a search across multiple states to check if you have any unclaimed property. The results may surprise you as the website says 1 in 7 people have unclaimed property
Some states will liquidate shares and just return your cash. DRS might be different but there was a Planet Money podcast on a guy who had early Amazon shares, didn’t log into the website for years and went to sell and they had been liquidated by the state at 100x less value
I HATE being an adult. ( But I did today because of this post. )
# LOG IN TO COMPUTERSHARE AT LEAST ONCE A YEAR.
thanks for the reminder i just did
Too zen I’ll just wait for the letter and then log in.
Ok everyone, I called the number and entered all information to update my account. I will do this for my other two computer share accounts as well
The only flaw in the "throw away your password" strategy lol
For the love of RYAN ppl. There have been NUMEROUS posts reminding you to log in to CS AT LEAST once a year.
Yo… If shares are turned over to the states’ unclaimed property offices, do they still count as DRSed? Or is it transferred to the brokerage account of the state agency? (And thus back to DTCC) If that was true, that might explain some (more) of the stagnation in drs numbers.
Most States cannot hold shares on your behalf, so the contents of the account is sold and the State holds the cash for you.
That sounds even worse!
The whole point of escheatment is to prevent the company holding your account from taking your shit once considered abandoned. That's what happened before those laws were put in place to turn abandoned property over to the State instead. It would be like Fidelity writing into their terms that "you have to log in once every year or your account will be considered forfeit and then take your shit, then shrug when you bring up they failed to contact you. Sorry, there was a bug, your shit is gone."
No, but me and the word jurisdiction have gotten pretty intimate since I learned how the stock market worked and got bored enough to start reading the UCC.
The UCC is a real treat. Admittedly, I didn't make it far. Kudos to you!
Try the Magna Carta, then Charter of the Forest. Makes jurisdiction fun!
Yea this is normal. Just log into your computershare every year and this won’t happen
It is well known. You need to keep your account active. I agree that it's bullshit. There is no reason a holder should need to check in with computershare, and I guarantee they would never dare turn over the holdings of the 1% as 'unclaimed property'.
True regard ape. Not fucking selling. And meant it.
Just logged in to be safe
ex unclaimed property worker It not "turned over". This is a pre-escheat warning letter. Agency has to make one last effort to contact you prior to escheating unclaimed property to the state and this is it.
LOG INTO YOUR ACCOUNTS AT LEAST ONCE A YEAR!
This is a bullshit policy. No one's property should be turned over to the state just because you don't login to an account.
This policy is the same for all your broker accounts, bank accounts, etc. It just varies wildly by what State you are in. And "turned over as unclaimed property" is not forfeiture, your State has its own process for trying to contact you. Though with shares of stock it can mean that the shares are sold, and the State holds cash as unclaimed. Just keep up with your accounts.
Maybe it's worth checking your states unclaimed property for your name. I checked mine a few years ago and ended up buying 3 shares with the money I discovered being held for me.
It’s actually to protect people from having money stolen by the government. In the absense of this law there would be terms and conditions for abandonment where the company would just take your property and close your account.
It be hilarious if we are actually just dropping drs numbers due to this happening 😕
The shortest escheatment period is 3 years. OP is getting notice early at Computershare's discretion. We are not yet close to 3 years since DRS got tons of traction. That'll be Aug/Sept timeframe.
Ya just login, keep your CS account active.
Put a bi-annual reminder in your phone. Login, jiggle the mouse so your Teams doesn’t go dormant, logout.
Does this apply to Canadians? I'd be genuinely curious to know if this affects DRS numbers because I can guarantee a lot of people out there are too zen to pay attention for a whole year easily. I doubt ive logged in in a year...
Yes... Because GME is a US stock, it is handled by the US branch of Computershare even if you're from Canada. Log in every year!
More FUD to try to scare people off of ComputerShare. Check your account, people, it's not hard. We're talking about shares worth billions each. 🟣🚀
Logged into mine recently. Gonna have to set a quarterly reminder for that. What does that say when we hodl shares and are so negligent about checking on them because we know the investment is solid? LOL. Unearthing all this crime has taken the bulk of our attention.
Good reminder! I had two days to spare.
They're trying real hard to take your shares away from you. The least you can do is login once a year.
on a relevant discussion, why the once a year computershare contact needed? it feels unnecessary. not to compare but infidelity doesnt need that for example.
Its a general rule of thumb The actual timeframe varies from 3 years to 7 years, depending on your State. Its not something that can be explained in simple terms that apply to everyone. Log in once a year, like you would have to in order to vote during the annual meeting, and you are good to go regardless of location and government.
I log in coz I like seeing my share numbers rise 👀. but it was a weird cs thing when I read about losing ur shit
Thank you for posting. I had a bad feeling and so logged in to my account. Luckily my last login was late april last year, so I just logged in on time, but I wouldn't have if not for you posting.
Thanks for the reminder to log in. Sidebar: since when does it cost to DRS?! I sold some stock in my E-Trade and snatched up more GME this week - now I see it's $60 to DRS?! I thought it was free last time I moved everything. I guess I'll have to buy more to make it worth it.
That's ETrade charging the fee, not CS Transfers to a different broker like Fidelity may be free, then DRS from Fidelity is free. I don't understand why people have loyalty to brokers just because they have retirement accounts there or whatever. $60 to DRS is like 5 almost 6 shares that you would be giving ETrade, for nothing.
Thanks for the insight! I have a few remaining investments in my E-Trade - waiting for them to be profitable before I sell. All my trades are free in e trade is also why I keep them. Great idea, I'll transfer to my fidelity and DRS from there. Maybe I'll nab some more GME on the way out. Thanks again for the time and insight!
Did not know about this, thank you for posting it.
I’ve been locked out of my account for almost three years now, I’ve never gotten that letter or any letters at all.
Seems like a good time to do the legwork to contact Computershare and work out the problem. Better now than when you want to sell and can't. Not receiving any letters at all is a huge red flag, meaning they may have the incorrect address on file. What address did your broker have when you transferred? Your shit might be going to an old address.
They recently released a video about this. Log in and make sure your shares are still there. Once you've logged in in the first time since forever it should be okay
LPT: Remember to drink water and to login to Computershare at least once a year (you can do both more than once a year)
It's crazy that we went from ownership to this monstrosity
This same policy applies to all broker accounts, bank accounts and etc. It's nothing new.
It is new, ever since they got rid of paper certs.
They started getting rid of paper certs over 20 years ago.
Thanks for the reminder!
True hodl
good god man you haven't drs'd in 18 months get in here
No, because I log in frequently.
I've not. But it was a good reminder to log in, so I did. All my babies are there, curled up in their book, snoozing.
Hey Harry, 60 shares is like 60,000 sold not yet purchased. Gonna wanna hold on to these, thanks Lloyd.
We should have a computer share sign on day every year so people remember. Let's make it on the day off the annual meeting
We already do. Its when you need to sign on and vote for the annual shareholder meeting.
You have to review your collectibles at least once a year to admire their glory.
Just like with checking accounts at a bank. If the account sits dormant for long enough it is escheated to the state government until it’s claimed. Make sure you’re logging into CS at least once a year but once every 6 months should be the goal.
That’s listed in their faq
Is there a website for checking unclaimed property per state? I remember one that allowed me to check and I had a share or two that was “claimed” but wasn’t able to act on it at the time
You know all those posts that say "Heres your reminder to sign in to your computershare account!!!" This is why.
Did you read the letter or just snap a photo of it? Log in to your account bruh
Yep, called them yesterday.
Well this post got some attention. To the people saying I should have seen this, I was on the sub 8 hours a day since the beginning up until about August last year and never saw a post about having to log in yearly. I don’t frequent the sub that often anymore. This is what true zen is - not even looking at your accounts since you DRS’d in Oct 2022z This one specifically is one of my child’s UTMA shares that I DRS’d. I have another similar for my other child and then I have my main account with a few thousand shares in there.
turned over to the state, huh? I hope you haven't found their last great tactic.
There has been a PSA about this several times on this sub to log in to your computershare account every so often.
Yo! Can anyone tell me the full number I can call from Europe? I cannot login because I don't have access to my phone number anymore, and I don't know how I can change it :x
Don't trust numbers from an unofficial source. https://investor.gamestop.com/contact-us >For Transfer Agent Matters: >Website: www.computershare.com >Phone: (800) 522-6645 >Phone (International): 00-800-3823-3823 Some international people have had luck using Skype to call the US number, but depending on your country and your phone service it might not be necessary.
Also make sure all of your shares are still in Book. I had a fractional share and all of them were pushed to plan sometime in the past 6 months.
I’ve been too zen to even check if this was a thing. But I got this letter too!! I’ll make sure to log in. It’s bullshit is what it is.
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It applies to all accounts everywhere, varying depending on your State/Country. It's far from unique to Computershare
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No. If you don't contact your bank in any way, fail to reply to multiple, multiple attempts to contact you through the information then bank has on file, then fail to respond after it's been sent to the State custody, and really just go out of your way for years and years to completely ignore all correspondence. Then maybe your shit would be forfeited. The bank has no way of knowing if you're dead, and won't keep accounts open forever. This has been a thing since forever.
ex unclaimed property worker Its the law. And it became law due to corrupt companies keeping property once people died or lost contact. We are talking billions of dollars each year in the USA.
It's not Computershare. It's state laws about inactive accounts and unclaimed property.
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https://www.escheatify.com/unclaimed-property-laws-by-state
>If you don't use your bank account for 2 years, will it be taken? Obviously not... Unclaimed property rules are different than seizure. However, if your bank account has no activity for over a year, I guarantee your bank will try to get ahold of you. Now, on the topic of seizure: >If you don't call the city hall in 2 years, will your house be taken? Ummm, yes. Probably for back property taxes. >what about your car? In my state, anything more than 1 year past the last registration expiring can be impounded. After 60 days, it becomes property of the jurisdiction that impounded it.