DRS Transfers

What is a DRS (Direct Registration System) transfer?

A DRS (Direct Registration System) transfer is a method where a transfer agent electronically moves shares from the issuer’s transfer agent to the broker’s custodian. This process removes the need for physical stock certificates, providing a more efficient and secure way to transfer ownership.

How long does a DRS transfer take?

DRS transfers typically take 3–5 business days to complete once the request has been submitted.

How do I initiate a DRS transfer to Webull?

1. Active Webull Account: You must have an existing account with Webull to start the transfer. If you don't have one, you'll need to create an account.
2. Obtain a Recent Statement: Provide the latest statement from your current broker. This statement should include all details of the securities you want to transfer, such as the number of shares, ticker symbols, and any other relevant information. Note, the address and name on the statement must match exactly with the information on your Webull account. If they do not match, the transfer may be rejected.
3. Confirm Securities Eligibility: Verify with your broker that the securities you want to transfer are eligible for a DRS transfer and are not restricted.
4. Cover the Transfer Fee: Make sure you have enough funds to cover the $115 DRS transfer fee for each CUSIP. Funds must be available before proceeding with your request.
5. View Eligible Firms: To see the list of firms from which a DRS transfer is possible, refer to the DTC's member directories.

Once these prerequisites are met, please provide the symbol and quantity of shares you wish to transfer to initiate the process. You can submit this information through our in-app Help Center or by emailing us at support@webull.com. Please note that if an incoming DRS transfer fails, a $125 fee will be charged to your account.

How do I initiate a DRS transfer from Webull?

Complete the required DRS Transfer Form and send the document to support@webull.com.

Is there a fee for a DRS transfer from Webull?

• Yes, outgoing DRS transfers from Webull are subject to a $115 fee per CUSIP.
• The account must have sufficient settled funds to cover the fee before the transfer can be initiated.

How do I direct register my shares?

Webull does not support the direct registration of shares. The stocks in your Webull account are held in "street name" through Apex Clearing. This means the securities are held in the clearing firm's street name, with beneficial ownership tied to you as the individual investor. You retain all ownership rights, including dividends and voting privileges, while Apex Clearing maintains the records identifying you as the beneficial owner.

What should I do if I want to direct register my shares?

If you wish to direct register your shares, you will need to transfer them to another brokerage that supports Direct Registration Systems (DRS). Webull does not support direct registration of shares. For instructions on initiating an outgoing DRS transfer, please refer to the guidance provided on this FAQ page or contact us through the Help Center for assistance.