The process to transfer assets between Wrap IDPS accounts depends on whether there is:
How do I transfer assets between Wrap IDPS accounts?
No Change in Beneficial Ownership (NCBO)
To transfer assets between Wrap IDPS accounts when there’s NCBO, you need to provide:
- Macquarie Asset Transfer form completed with the following:
- Seller: Name and account number of the sending account, signed by the trustees, directors or owners
- Buyer: Name and account number of the receiving account, signed by the trustees, directors or owners
- Please note: Assets to be transferred should be listed
- Number of units must be included (percentage figures aren't accepted).
- Managed funds units should be to 4 decimal places
- Or a request signed by your client. We require one of the following:
- Instructions signed by your client with the following details:
- State the delivering and receiving account name and account numbers
- List the assets and quantities to transfer OR put “All Assets”
- Signed by all account holder(s)
- Instructions signed by your client with the following details:
- Completed account closure form (for the delivering account).
Before you submit the request
- The assets must be available on the applicable Investment Menu to be held on platform.
- The Macquarie Asset Transfer form can be used instead of an Australian Standard Transfer form for an in-specie transfer of assets already on our Wrap platform where there is a change in beneficial or legal ownership.
- If you're looking to close the account, we'll also require the Investment Manager/Consolidator account closure form or Investment Accumulator withdrawal/closure form depending on the account type you're trying to close.
- If the account is receiving an international listed security, please ensure the international listed securities registration form has been completed prior to the transfer (not applicable for CBO transfers).
Change in Beneficial Ownership (CBO)
To transfer assets between Wrap IDPS accounts when there’s CBO, you need to provide:
- Macquarie Asset Transfer form completed with the following:
- Seller: Name and account number of the sending account, signed by the trustees, directors or owners
- Buyer: Name and account number of the receiving account, signed by the trustees, directors or owners
- Please note: Assets to be transferred should be listed
- Number of units must be included (percentage figures aren't accepted).
- Managed funds units should be to 4 decimal places
- The consideration value must be within 5% of the closing market value on the date of purchase
- Purchase date must be within 60 days of Macquarie receiving the paperwork or on or after the receiving account opening date.
Before you submit the request
- The assets must be available on the applicable Investment Menu to be held on platform.
- The Macquarie Asset Transfer form can be used instead of an Australian Standard Transfer form for an in-specie transfer of assets already on our Wrap platform where there is a change in beneficial or legal ownership.
- If you're looking to close the account, we'll also require the Investment Manager/Consolidator account closure form or Investment Accumulator withdrawal/closure form depending on the account type you're trying to close.
- If the account is receiving an international listed security, please ensure the international listed securities registration form has been completed prior to the transfer (not applicable for CBO transfers).
Change in Legal Ownership
To transfer assets between Wrap IDPS accounts when there’s change in legal ownership, you need to provide:
- Macquarie Asset Transfer form completed with the following:
- Seller: Name and account number of the sending account, signed by the trustees, directors or owners
- Buyer: Name and account number of the receiving account, signed by the trustees, directors or owners
- Please note: Assets to be transferred should be listed
- Number of units must be included (percentage figures aren't accepted).
- Managed funds units should be to 4 decimal places
- Consideration: NCBO.
Before you submit the request
- The assets must be available on the applicable Investment Menu to be held on platform
- The Macquarie Asset Transfer form can be used instead of an Australian Standard Transfer form for an in-specie transfer of assets already on our Wrap platform where there is a change in beneficial or legal ownership.
- If you're looking to close the account, we'll also require the Investment Manager/Consolidator account closure form or Investment Accumulator withdrawal/closure form depending on the account type you're trying to close
- If the account is receiving an international listed security, please ensure the international listed securities registration form has been completed prior to the transfer (not applicable for CBO transfers).
What assets can't be transferred between Wrap IDPS accounts?
- We can’t transfer assets that aren’t available on the applicable Investment Menu. If you're looking to transfer into the Investment Accumulator or Engage account, please ensure the assets are available on the relevant product investment menu before initiating the request.
- Illiquid ASX assets can’t be transferred internally and can only be transferred off platform (if the asset is transferable).
- We can’t transfer unmarketable parcels for CBO transfers.
Where do I send completed transfer paperwork?
Once all transfer paperwork is completed and signed by your client or relevant parties, please upload via Macquarie Request Centre to ensure you can track your request.
For any original documentation required (as noted in the above) please mail to:
TRN: Case Reference
Macquarie Wrap
Attn: Asset Transfers
GPO Box 4045
SYDNEY NSW 2001
Related articles
-
Making an internal transfer of Separately Managed Accounts (SMA) assets -
Transferring between Wrap IDPS accounts -
Transferring from an IDPS to a Super or Pension as a contribution
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