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Depositing physical share certificates into a brokerage account offers several advantages.  For example, doing so can:

• facilitate convenient buying and selling of shares;
• reduce the risk of loss, theft, or damage to physical certificates;
• keep all investments in one place for easier management and monitoring; and
• simplify the receipt and reinvestment of dividends.

To deposit your paper share certificates into your brokerage account, you may wish to start by contacting your brokerage firm to inform them of your intention.  They will provide you with specific instructions regarding forms that need to be filled out and fees associated with the process.

Some brokerage firms offer a simplified process.  For example, if you have a brokerage account that is affiliated with a major bank, you may be able to deposit your share certificates into your brokerage account by simply bringing in the share certificates and providing any other necessary documentation to your local bank branch.

Other brokerage firms may ask you to first convert your share certificates to an electronic ownership record before making the deposit into your brokerage account.  This conversion process generally involves the following steps:

1. Contact the company’s transfer agent to convert your physical evidence of share ownership to an electronic format (e.g., through the Direct Registration System (DRS)). The transfer agent information is usually found on the paper certificate itself (usually the reverse side), the company’s website or on SEDAR+.
2. Follow the transfer agent’s instructions, including completing any required forms and paying any applicable fees. If you are asked to send your physical share certificates, it may be a good idea to use registered mail.
3. A statement (referred to as a DRS statement or DRS Advice) will be mailed to you confirming that your shares have been registered electronically with the transfer agent.
4. Once your brokerage firm has the statement and you’ve provided all other necessary forms and fees, the brokerage firm will verify the information and deposit your shares into your account.

Before proceeding with the deposit, be aware that:

• there may be several fees charged by the brokerage firm and the transfer agent;
• the process to deposit the shares into your brokerage account may take several weeks;
• when your shares have been deposited into your brokerage account, they’re usually held in trust registered in the name of your broker, with you as the beneficial owner to streamline the trading process and reduce administrative burdens.