What are Company Shares?
Company shares, also known as stock shares, are issued to employees as a form of compensation from their employer. The number of shares they own represents the stake or ownership that an individual has in the business. If that individual leaves their employer, or they’re given permission to transfer a portion of the shares, then that individual is eligible to move these funds to another financial institution. Luckily, transferring company shares is simple, and we've created a guide on how to set up the transfer online!
What Should I Know Before Setting up my Transfer?
1. When can I transfer my shares?
This answer ultimately depends on your company. It’s best to contact your employer or reach out to the institution holding your funds to determine how many units can be transferred. In most scenarios, you'll be able to transfer vested shares, which are shares that are secured in your possession.
2. Can I transfer these shares into my TFSA?
If the shares originated from a TFSA, then we can transfer the shares into the same account. However, if the funds came from a Non-Registered account, then they’ll need to be moved into the Personal account before the funds can be transferred into the TFSA (or the investment account of your choice). You can refer to our help article to learn more about account types.
3. What are the most common institutions that hold company shares?
We've listed the three most common institutions below. Feel free to click below to learn how you can get started with your transfer: