Holdings should be held in a brokerage account to be eligible for transfer. Often, shares held in an employer-sponsored account will be unable to be transferred via ACATS. If your shares are currently held in an employer-sponsored account, you should first transfer them to a brokerage account before beginning the ACATS process.
If you are looking to do a partial transfer of your holdings at another broker and want to select specific tax lots for transfer, you should initiate the ACATS transfer at your sending broker.
Fractional shares are often not eligible for transfer. Please refer to your sending broker’s website for more information on how they handle fractional shares.
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