Direct Register your GME Shares
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Why Direct Register Your GME Stock?
At its core, the main reason why one would want to direct register their GME or other stock they own is to prevent an ongoing market manipulation and price suppression of that stock. This is what was believed to have occurred with GME stock. Whether it was through naked short selling or other means, the ability of short sellers to acquire GME shares to cover their short positions was highly controversial, to say the least. It was reported that GME investors called their brokers in droves requesting that their shares be barred from being lent out. Nevertheless, brokers continued offering GME stock for lending purposes.
The direct registration process allows any company that issues stock to use a third-party company to maintain a stockholder record of exactly which investors own each single share that exists. It can be compared to a digital stock certification. GameStop uses Computershare as their third-party company or “transfer agent.”
For GME and other company shares, the idea is that if more shares became direct registered, fewer shares would be available to short sellers. If short selling increases artificial share supply into the marketplace, direct registration of shares reduces real supply available for shorting.
How to Direct Register GME Stock in Your Self-Directed IRA
Of course, one can own stock, such as GME, personally or in a retirement account, such as an IRA. The advantage of owning stock in an IRA is that all gains will go back to the IRA without tax.
IRA Financial Trust is a regulated state-charted trust company authorized to administer and custody retirement accounts. IRA Financial is not a brokerage firm and does not sell equities or provide investment advice; it is solely responsible for the administration of IRAs and other retirement accounts.
- Open a Self-Directed IRA account with IRA Financial.
- Request an in-kind indirect rollover of the GME stock from their current custodian (brokerage firm). The brokerage firm will DRS (Direct Registration System) the shares into Computershare in the name of the individual IRA owner. The shares will go from the brokerage firm into the name of the IRA owner and then into the name of the IRA. (IRA Financial will need a copy of this statement as well as a completed deposit form, which you can complete on our app.)
- IRA Financial will establish a limited liability company (LLC) that will ultimately be owned by your IRA. The LLC can use any available name. The ultimate title to the GME stock will be in the name of the LLC, which will be 100% owned by the IRA and managed by the IRA owner (you).
- The ownership of the GME stock will then be changed from the IRA owner’s name to the name of the LLC. This must be done within 60 days of having the GME shares titled in the name of the individual IRA owner. The GME stock will be re-titled from the name of the IRA owner to the name of the IRA and then to the name of the LLC.
- The GME shares will be directly registered in the name of the LLC. You, as manager of the LLC, will have complete control over the LLC.
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