Delisted stock - procedures

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kansaifolk
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Joined: Tue Oct 24, 2017 1:19 pm

Delisted stock - procedures

Post by kansaifolk »

Hi all,

This is just an FYI, as I would have done things differently had I known.

I was holding a stock that was to be delisted in January (an ishares emerging market stock).

Instead of selling it (which I should have, in hindsight), I just kept it and was waiting for the settlement date for the funds to be reimbursed into my account later, as would have been the case in my home country.

This week (about 5 weeks after the delisting), I got a type of cheque in the mail to be cashed in person. Some pain-in-the-butt things:
-I have to make a special trip to a ward post office to cash it (not my local post office)
-I have to get the money back into my bank, and then transfer it back into SBI
-The letter states I have to pay my own taxes/do my own reporting on it (instead of SBI automatically doing it for me). In this case, it was in a NISA so hope I can ignore this part.

Lesson learned for future!
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