CEF surprise

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ao's picture
Status: Diamond Member (Offline)
Joined: Feb 4 2009
Posts: 2220
CEF surprise

I was checking into switching from non-registered to registered stock ownership of shares I hold in CEF in one of my retirement accounts and one of my wife's retirement accounts as well as an account I manage for my mother.  Big surprise!  To switch over costs $500 per position or $1500 for all three!!!  I had a few choice words to the unfortunate Schwab person who had to deal with me and they are mailing me information regarding this situation so I can have documentation in hand to review.  Seems that CEF is a non-participating (foreign) stock with Schwab and some Canadian bureaucracy charges Schwab $500 for this switch-over.  Hopefully, the paperwork they are sending me will clarify and verify the truth of the matter and provide further details.  I'll keep folks posted.   

Denny Johnson's picture
Denny Johnson
Status: Gold Member (Offline)
Joined: Aug 13 2008
Posts: 348

I will appreciate you keeping us posted.


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