How to Sell Your MetLife Computershare Stock: A Comprehensive Guide
Are you holding MetLife stock through Computershare and wondering how to turn those shares into cash? You've come to the right place! Selling stock can seem daunting, but with a clear, step-by-step guide, you'll navigate the process with confidence. This lengthy post will walk you through everything you need to know, from understanding your ownership to receiving your proceeds.
Step 1: Confirm Your Ownership and Account Status - Let's Start Here!
Before you even think about selling, the absolute first thing you need to do is confirm that your MetLife shares are indeed held with Computershare and that your account is in good standing. This might sound basic, but it's a crucial starting point.
A. Locate Your Computershare Account Information: Do you have a recent statement from Computershare for your MetLife shares? This statement will contain your Shareholder Reference Number (SRN) or account number. This is your key to accessing your holdings online or communicating with Computershare. If you have misplaced your statements, don't panic! Computershare can usually help you retrieve your account details if you can provide identifying information like your name, address, and potentially your Social Security Number (SSN) or Taxpayer Identification Number (TIN).
B. Understand Your Holding Type: Are your shares issuer-sponsored (held directly with Computershare) or broker-sponsored (held through a brokerage firm)? If your shares are issuer-sponsored, you'll see a letter 'I' at the start of your holding number on your statements. If it's an 'X', your shares are likely with a broker, and you'll need to contact that broker to sell them, not Computershare directly. This guide focuses on issuer-sponsored shares held with Computershare.
C. Verify Your Identity and Contact Details: Ensure that your personal information, including your registered address and bank details (if you have them set up for direct deposit), are up-to-date with Computershare. Any discrepancies can delay the sale process and the receipt of your funds. Computershare may require identity verification, such as a driver's license or passport, especially if you haven't interacted with your account recently or if changes are being made.
Step 2: Choose Your Selling Method - Options for Your Sale
Computershare offers a few ways to sell your MetLife stock. The best method for you will depend on your preferences for speed, cost, and control.
A. Selling Online via Computershare Investor Centre (Recommended for convenience): This is often the quickest and most straightforward method for individual shareholders.
Sub-heading: Accessing Investor Centre
If you already have an Investor Centre account, simply log in to the Computershare website.
If you don't have an account, you can usually "Access a Single Holding" by providing your SRN, postcode, and other relevant information to begin. You may need to create an account first, which involves online identity verification.
Sub-heading: Initiating the Sale Online
Once logged in, locate your MetLife holding.
Look for an "Action" or "Sell" option associated with your shares.
You'll typically be presented with options for the type of sale (e.g., market order, limit order).
Market Order: This means your shares will be sold at the current market price as soon as possible. This is generally the fastest way to sell, but the exact price you receive might fluctuate slightly.
Limit Order: This allows you to set a specific price at which you want your shares to be sold. The sale will only execute if the stock reaches that price or higher. This gives you more control over the selling price but there's no guarantee the sale will occur if your target price isn't met.
Confirm the number of shares you wish to sell.
Review the estimated fees and proceeds before finalizing your order.
B. Selling by Phone (For personalized assistance): If you prefer to speak with someone directly or need guidance, you can call Computershare's dedicated dealing desk.
Sub-heading: Contacting Computershare by Phone
Locate the appropriate phone number for shareholder inquiries on the MetLife investor relations page or the Computershare website (MetLife's transfer agent is Computershare). Be prepared for potential wait times.
Have your account number and personal identification details ready for verification.
Sub-heading: Placing Your Order Over the Phone
A representative will guide you through the process, confirm your identity, and take your selling instructions.
They will also inform you about the fees associated with a phone-assisted sale, which might be slightly higher than online sales.
C. Selling by Mail (If other options aren't feasible): While less common due to the time involved, selling by mail is an option, especially if you have physical stock certificates.
Sub-heading: Requesting Sale Forms
You'll need to contact Computershare to request the necessary forms for selling shares by mail. These forms will include instructions on how to complete the sale.
Sub-heading: Completing and Sending Forms
Carefully fill out all required sections of the form, including the number of shares to sell and your desired payment method.
If you have physical stock certificates, you will likely need to send them along with the completed forms. It is crucial to send stock certificates via secure, trackable mail (e.g., certified mail, registered mail) and consider insuring the package.
You may also need a Medallion Signature Guarantee for certain transactions, especially those involving physical certificates or large sums. This is a special stamp from a financial institution (like a bank or brokerage) that verifies your signature.
Step 3: Understand the Costs and Proceeds - What to Expect Financially
Selling shares isn't entirely free. There are typically fees involved, and understanding them beforehand is important.
A. Computershare Fees: Computershare charges a fee for selling shares through their service. These fees can vary based on the value of the trade and the method of sale (online vs. phone).
For example, some sources indicate a flat fee for trades up to a certain value, plus a percentage for amounts over that threshold. Always review the fee schedule provided by Computershare before you execute your sale. These fees will be deducted from your sale proceeds.
B. Tax Implications: This is a critical aspect. When you sell stock, you may incur capital gains or losses, which have tax implications.
Sub-heading: Cost Basis
Computershare is required to report the cost basis of "covered shares" (generally those acquired after January 1, 2011) to you and the IRS on Form 1099-B. This helps determine your gain or loss.
For "non-covered shares" (acquired before 2011), you will be responsible for determining your own cost basis.
Sub-heading: Form 1099-B
After your sale, Computershare will typically send you a Form 1099-B, which reports the gross proceeds from your sale to both you and the IRS. This form is essential for tax filing.
It is highly recommended to consult with a tax advisor to understand your specific tax obligations related to the sale of your MetLife stock. They can help you calculate your gains/losses and ensure proper reporting.
Step 4: Receiving Your Sale Proceeds - Getting Your Money
Once your sale is executed, the final step is to receive your money.
A. Settlement Period: Stock sales generally have a settlement period, which means it takes a few business days for the transaction to be finalized and the funds to be ready for disbursement. This is often T+2 (trade date plus two business days).
B. Payment Options:
Sub-heading: Direct Deposit (Recommended for speed and security): If you have your bank account details on file with Computershare, your proceeds can be directly credited to your account. This is usually the fastest way to receive your funds. Ensure your bank details are accurate and up-to-date well in advance of selling.
Sub-heading: Check by Mail: If you haven't set up direct deposit, or prefer it, Computershare will send you a physical check to your registered address. Be aware that this method takes longer due to mail delivery times.
C. Account Lock for Changes: Be aware that if you make changes to your payment instructions, registered address, or name on your holding, Computershare may "lock" your holding for a certain period (e.g., 10 business days) to verify the new information and protect your account. This can delay your sale or the receipt of proceeds.
Step 5: Post-Sale Considerations and Record Keeping - Don't Forget This!
Your responsibilities don't end once the money hits your account.
A. Keep Records: Maintain all documentation related to your sale, including confirmation statements, tax forms (like Form 1099-B), and any correspondence with Computershare. These records are vital for tax purposes and for your personal financial tracking.
B. Tax Planning: As mentioned, consult with a tax professional to properly report your capital gains or losses. This is especially important if you have multiple sales or complex financial situations.
C. Reinvestment (Optional): If you're selling to reallocate funds, consider your next investment steps.
10 Related FAQ Questions
Here are 10 common questions related to selling MetLife Computershare stock, with quick answers:
How to find my MetLife Computershare account number? Your account number (or Shareholder Reference Number - SRN) can be found on any statements you've received from Computershare regarding your MetLife holdings. If you don't have statements, you can contact Computershare directly and provide identifying information to retrieve it.
How to sell MetLife stock if I have a physical certificate? If you have a physical stock certificate, you'll generally need to contact Computershare to obtain the necessary forms. You will then likely need to send the completed forms and the physical certificate (preferably with a Medallion Signature Guarantee) to Computershare via secure, trackable mail. Alternatively, you can deposit the certificate into a brokerage account and sell through that broker.
How to get a Medallion Signature Guarantee for selling MetLife stock? A Medallion Signature Guarantee is typically obtained from a financial institution like a bank, credit union, or brokerage firm where you have an account. You'll need to present valid identification and sign the document in front of a guarantor.
How to determine the cost basis of my MetLife stock? For "covered shares" (generally acquired after 2011), Computershare will report your cost basis on Form 1099-B. For "non-covered shares" (acquired before 2011), you'll need to determine the cost basis yourself using your purchase records. Consulting a tax advisor is highly recommended.
How to transfer MetLife shares from Computershare to a brokerage account? You can initiate a Direct Registration System (DRS) transfer from Computershare to your brokerage account. Contact your brokerage firm, and they will typically provide you with the necessary forms and instructions to facilitate the transfer.
How to update my bank details with Computershare for direct deposit? You can usually update your bank details online through your Computershare Investor Centre account. Alternatively, you may need to complete a form and send it to Computershare by mail. Be aware that a "lock" period may apply after updating bank details for security reasons.
How to contact MetLife's transfer agent, Computershare?
You can usually find contact information for Computershare, including phone numbers and mailing addresses, on the MetLife Investor Relations website under "Shareholder Services" or directly on the Computershare website (
How to sell fractional shares of MetLife stock held with Computershare? When you sell your entire holding, any fractional shares you possess will typically be sold automatically along with your whole shares. If you are only selling a portion of your holding, Computershare's system will handle the sale of whole and fractional shares appropriately.
How to get tax forms (1099-B) from Computershare after selling MetLife stock? Computershare will mail your Form 1099-B by the IRS deadline (typically by mid-February) after the tax year in which you sold shares. You can also usually download copies of your tax forms online through your Computershare Investor Centre account.
How to avoid delays when selling MetLife Computershare stock? To avoid delays, ensure your personal information and bank details are up-to-date with Computershare before initiating the sale. Have all necessary documentation ready, especially if dealing with physical certificates. Consider using the online selling method for the quickest transaction.