Handling old DRP's

[Another Reader]

I have a number of very old DRP's, dating from over 20 years ago, before real discount brokerages. I have been lazy about moving the accounts over to Fido or Schwab. There are several servicers of these, of which Computershare is the largest.

Last year and this year, I have been unable to get Broadridge, one of the servicers, to provide 1099s for one small account.

This year, they started servicing the AFLAC DRP, and that's a bigger dividend number. I have gone back and forth with Broadridge to get 1099's. I have never received any statements for either of these accounts since they acquired the servicing, so no account number.

The canned response is to go to the website and set up online accounts. Unfortunately, you need the account number to do this.

Id like to get Fidelity to pull these away from Broadridge, but, again, no account number.

Anyone here deal with this nonsense?

 

[sengsational]

Maybe see how much they charge to issue a certificate for the shares you own. They probably will drag their feet, but find out what they're required to do by law and what agency monitors compliance. Be ready to saber rattle with the name of the policing agency.

 

[pb4uski]

I wonder if you contacted or complained to the Investor Relations office of the issuing company (like AFLAC) that they might be able to get you a better response.

Also, if you should be receiving 1099s and have not been the the IRS might be interested in knowing about that. I wonder if you threaten to file a complaint to the IRS that Broadridge has not been issuing you 1099 when they should be that Broadridge might be more responsive.

Sometimes, the sweaky wheel gets the grease.

 

[Another Reader]

I wonder if you contacted or complained to the Investor Relations office of the issuing company (like AFLAC) that they might be able to get you a better response.

Also, if you should be receiving 1099s and have not been the the IRS might be interested in knowing about that. I wonder if you threaten to file a complaint to the IRS that Broadridge has not been issuing you 1099 when they should be that Broadridge might be more responsive.

Sometimes, the sweaky wheel gets the grease.

I agree about the squeaky wheel. I should have gotten a 1099 last year, as the income was in excess of the minimum. This year, the omission is egregious.

 

[yakers]

Many years ago had DSP/DRIPs and had the paper stock certificates issued to me and took those to my brokerage (Wells Fargo) and they transferred them into my WF account. Still have the NC shares at WF, so keep your cost info.