Unlocking Your Investment: A Comprehensive Guide to Selling MetLife Stock
Have you been holding onto MetLife stock and now find yourself considering selling? Whether you inherited shares, received them through a demutualization, or purchased them directly, the process can seem a bit daunting at first. But don't worry, you've come to the right place! This lengthy guide will walk you through every step of selling your MetLife stock, ensuring you have all the information you need to make informed decisions.
 |
| How Do I Sell Metlife Stock |
Step 1: Discover Your Shareholding Type – Where Are Your Shares Held?
Before you do anything else, the absolute first step is to understand how your MetLife shares are held. This is the most crucial piece of information, as it dictates the entire selling process.
There are generally two main ways you might hold MetLife stock:
-
Directly Registered Shares (with a Transfer Agent): Many MetLife shareholders received their shares directly through the demutualization process (when MetLife converted from a mutual insurance company to a publicly traded company). These shares are typically held by MetLife's designated transfer agent. For MetLife, their transfer agent is Computershare Trust Company, N.A. This is a common scenario, especially if you haven't actively traded these shares before. You would receive statements directly from Computershare.
-
Shares Held in a Brokerage Account: If you purchased MetLife stock through a brokerage firm (like Charles Schwab, Fidelity, E*TRADE, or a local broker), your shares are likely held electronically in your brokerage account. This is the most common way for active investors to hold stocks.
Action for you: Take a moment to check your past statements or any correspondence you've received regarding your MetLife shares. Do you see "Computershare" mentioned, or is it a brokerage firm? Knowing this will streamline the rest of the process significantly.
Step 2: Gather Essential Information and Documents
Once you know where your shares are held, it's time to gather the necessary paperwork. Having these documents ready will make the selling process much smoother.
2.1 For Directly Registered Shares (Computershare):
If your shares are with Computershare, you'll need:
-
Your Account Number: This will be on any statements you've received from Computershare.
-
Your Social Security Number (SSN) or Taxpayer Identification Number (TIN): This is essential for tax reporting.
-
Proof of Identity: A government-issued ID (driver's license, passport) might be required, especially if you're making changes to your account or if there are any discrepancies.
-
Cost Basis Information: This is critically important for tax purposes. If you received shares through demutualization, the cost basis is often considered $0 by the IRS, but it's always best to consult with a tax professional. If you purchased them directly through Computershare's program, they might have this information.
-
Transfer Request Forms: Computershare's website (
www.computershare.com/investor
Tip: Read slowly to catch the finer details.
2.2 For Shares Held in a Brokerage Account:
If your shares are with a brokerage firm, you'll need:
-
Your Brokerage Account Login Credentials: This will allow you to access your online trading platform.
-
Your Account Number: Found on your statements.
-
Your Cost Basis Information: Your brokerage firm typically tracks this for you. You can usually find it in your account statements or tax documents.
-
Bank Account Information: For receiving the proceeds of your sale.
Step 3: Choose Your Selling Method
How you sell your MetLife stock depends on where your shares are held.
3.1 Selling Directly Registered Shares (through Computershare):
Computershare, as MetLife's transfer agent, often provides services for selling shares directly. This can be a convenient option, especially if you only hold MetLife shares this way.
-
Option A: Online Sale (if available):
-
Check Computershare's Investor Center website (
www.computershare.com/investor -
Look for "Buy or Sell Shares" or a similar option. Follow the on-screen instructions. You'll typically enter the number of shares you wish to sell and choose the type of order (market or limit).
-
-
Option B: Sale by Mail or Phone:
-
Contact Computershare directly. Their contact information (phone number, mailing address) will be available on your statements or their website.
-
Request the necessary forms for selling shares. They will likely send you a "Notice to Withdraw" or a "Sale Request Form."
-
Fill out the form carefully and completely. Ensure all required fields are filled, including the number of shares, your signature, and any instructions for receiving the proceeds.
-
Consider a "Medallion Signature Guarantee." For larger transactions, Computershare may require a Medallion Signature Guarantee. This is a special stamp from a financial institution (like your bank or credit union) that verifies your signature. It's a security measure to prevent fraudulent transactions.
-
Mail the completed forms back to Computershare.
-
3.2 Selling Shares Held in a Brokerage Account:
This is generally the easiest and quickest way to sell your MetLife stock if you already have a brokerage account.
-
Option A: Online Trading Platform:
-
Log in to your brokerage account online.
-
Navigate to the "Trade" or "Sell" section.
-
Search for "MET" (MetLife's ticker symbol).
-
Enter the number of shares you want to sell.
-
Choose your order type:
-
Market Order: Sells your shares immediately at the current market price. This is typically executed quickly but the exact price you receive might fluctuate.
-
Limit Order: Allows you to set a specific price at which you want to sell your shares. Your order will only be executed if the stock reaches or exceeds that price. This gives you more control but there's no guarantee the order will be filled.
-
-
Review and confirm your order.
-
-
Option B: Phone Call to Your Broker:
-
Call your brokerage firm's customer service line.
-
Inform them you wish to sell MetLife (MET) stock.
-
Provide your account details and the number of shares.
-
Specify your preferred order type (market or limit).
-
They will verbally confirm the trade details with you.
-
Step 4: Understand Fees and Costs
Selling stock isn't always free. Be aware of potential fees.
Reminder: Save this article to read offline later.
-
Computershare (Transfer Agent) Fees:
-
They typically charge a transaction fee for selling shares directly through them. This could be a flat fee or a percentage of the sale value.
-
There might also be a commission per share sold.
-
Always inquire about their fee schedule before initiating a sale.
-
-
Brokerage Firm Fees:
-
Many online brokerage firms now offer commission-free stock trading for listed stocks like MetLife (MET). This means you might not pay a direct fee for the trade itself.
-
However, some brokers may still charge regulatory fees or small per-share fees that are passed through.
-
If you're using a full-service broker, they might charge a higher commission.
-
Pro Tip: Compare the fee structures if you have both options available. A brokerage account with commission-free trading is often the most cost-effective solution.
Step 5: Consider Tax Implications
Selling stock has tax consequences. This is not financial or tax advice, but general information. It is strongly recommended to consult with a qualified tax advisor.
-
Capital Gains/Losses: When you sell stock, you'll realize either a capital gain (if you sell for more than your cost basis) or a capital loss (if you sell for less).
-
Short-Term Capital Gains: If you held the stock for one year or less, the gain is typically taxed at your ordinary income tax rate.
-
Long-Term Capital Gains: If you held the stock for more than one year, the gain is usually taxed at a lower, preferential long-term capital gains tax rate.
-
-
Cost Basis: As mentioned, the cost basis is crucial. If you received MetLife shares through demutualization, your cost basis for tax purposes is often $0. This means the entire sale proceeds (minus selling fees) would be considered a capital gain.
-
Form 1099-B: Your transfer agent or brokerage firm will send you Form 1099-B, which reports the proceeds from your stock sale to the IRS. This form will also typically include your cost basis if they have that information.
Crucial Reminder: Keep excellent records of your purchase dates, sale dates, and all associated costs. This will be invaluable when it comes to filing your taxes.
Step 6: Receiving Your Proceeds
Once your sale is executed, you'll receive the funds.
-
Directly Registered Shares (Computershare):
-
You can typically opt for a check to be mailed to you.
-
Some transfer agents offer direct deposit (ACH transfer) to your bank account if you have provided your banking information. This is generally faster.
-
-
Brokerage Account:
-
The proceeds will be credited directly to your brokerage account.
-
From there, you can usually initiate an electronic transfer (ACH) to your linked bank account, request a check, or use the funds to make other investments within your brokerage account.
-
Be aware of settlement periods. Stock trades typically settle in two business days (T+2). This means the funds won't be available for withdrawal until two business days after the trade date.
-
Step 7: Post-Sale Considerations
-
Confirmation Statement: You will receive a confirmation statement from either Computershare or your brokerage firm detailing the sale transaction. Keep this for your records.
-
Tax Documents: Remember to keep an eye out for your Form 1099-B at tax time.
-
Reinvesting or Using Funds: Decide how you want to use the proceeds from your sale – whether for other investments, savings, or spending.
10 Related FAQ Questions
Here are 10 frequently asked questions, starting with 'How to', along with quick answers to help you navigate selling your MetLife stock:
QuickTip: Re-reading helps retention.
How to find out if I own MetLife stock?
Check old policy documents, correspondence from MetLife, or look for statements from Computershare Trust Company, N.A. or any brokerage accounts you may have.
How to determine the cost basis of my MetLife stock received from demutualization?
For shares received through demutualization, the cost basis is often considered zero for tax purposes by the IRS. However, always confirm with a tax professional.
How to sell MetLife stock if I don't have a brokerage account?
You can sell directly through MetLife's transfer agent, Computershare Trust Company, N.A. Contact them by phone or visit their Investor Center website for forms and instructions.
How to transfer MetLife stock from Computershare to a brokerage account?
Contact your brokerage firm and instruct them that you wish to transfer shares. They will typically provide you with the necessary forms and guide you through the process, which usually involves an ACAT (Automated Customer Account Transfer) request.
How to avoid high fees when selling MetLife stock?
Consider opening an account with a low-cost or commission-free online brokerage if you don't already have one, as they often offer more favorable fee structures than selling directly through a transfer agent.
Tip: Reading carefully reduces re-reading.
How to get a Medallion Signature Guarantee?
A Medallion Signature Guarantee is typically obtained from a financial institution where you have an account, such as your bank, credit union, or a brokerage firm. You'll need to present identification and the document requiring the guarantee.
How to report MetLife stock sales on my taxes?
You will receive a Form 1099-B from the entity that sold your shares (Computershare or your brokerage). This form will report the sale proceeds and, usually, your cost basis, which you will use to report capital gains or losses on your tax return.
How to sell MetLife stock after the death of the shareholder?
The process involves the estate of the deceased shareholder. Contact Computershare (or the brokerage firm) and inquire about their "Deceased Shareholder Transfer" forms and requirements, which will typically include providing a death certificate and legal documentation related to the estate.
How to get assistance if I have trouble selling my MetLife stock?
If your shares are directly registered, contact Computershare's customer service. If they are in a brokerage account, contact your brokerage firm's support team. For tax-related questions, always consult a tax professional.
How to know if MetLife stock is a good sell or hold?
This depends on your individual financial goals, risk tolerance, and current market conditions. It's advisable to consult with a qualified financial advisor who can assess your specific situation and help you make an informed decision.
 |
