The Netwealth in-specie transfer forms can be used for the transfer of listed securities and managed funds from external parties into the Netwealth platform without the need to sell. Capital Gains Tax (CGT) may be triggered depending on whether the transfer has occurred with or without a Change of Beneficial Ownership (CBO or NCBO).
In this guide, we cover the following:
- Supporting Documents Required
- How to complete the form
- Step 1: Provide Netwealth Account Details
- Step 2: Provide Rollover Contribution Details (if any)
- Step 3: Provide Other Contribution Details (if any)
- Step 4: Transferring Domestic Assets
- Step 4A: Annexure A
- Step 5: Transferring International Assets
- Step 6: Member Declaration
- Step 7: Limited Power of Attorney (LPOA)
- Submit the documents
- Frequently Used Terms
- Frequently Asked Questions
Pre-completion checks
Before completing the form, ensure this form is the right form for this scenario:
- If this is an in-specie transfer from an external provider into Netwealth, follow the steps below.
- In-specie transfers cannot contribute directly to a Super Accelerator account in the pension phase (Standard Income Stream (SIS), Transition to Retirement (TTR) or Term Allocated Pension (TAP)), a 'pension refresh' would need to be completed in order to transfer the in-specie investments.
- If this is an in‑specie transfer from an external provider into a Netwealth SMSF (which is administered through the Wealth Accelerator wrap platform), please follow the Wealth Accelerator instructions.
Supporting Documents required
- Always obtain the latest version of the Netwealth in-specie form directly from the Netwealth platform
- For Super Accelerator: In-specie contribution form
Before completing the in-specie form, please ensure all assets have been reviewed and confirmed that the asset can be held on the Netwealth platform. If the asset approval process takes longer than 90 days, it may result in a request for a new in-specie form.
- Portfolio valuation. Ensure that it is accurate and up to date. In the case that the transfer results in a change in beneficial ownership, the portfolio valuation enables Netwealth to review the current state of the portfolio as the transfer from the external party is initiated.
- For direct holdings, it would be beneficial to provide a copy of ASX, international and managed fund holding statements so Netwealth can confirm the registration details.
How to complete the form
Step 1: Provide Netwealth Account Details
Everyone should complete Step 1.
When completing the in specie transfer form as part of a new Super Accelerator account application, the 'Account Name' section must exactly match the name on the Super Accelerator application form.
Step 2: Provide rollover contribution details (if any)
Please complete this step if your in-specie contribution involves a rollover from another super fund, or if your in-specie contribution involves a rollover from a self-managed super fund (SMSF). If there is a contribution from a SMSF, please specify if this in-specie contribution is a result of a SMSF wind up.
Step 3: Provide other contribution details (if any)
Please complete this step if there are any concessional or non-concessional contributions that are part of the in-specie contribution. This includes personal contributions, spouse contributions, etc.
Step 4: Transferring Domestic Assets
What type of holding is the transfer coming from?
Please tick the applicable option, Platform or Broker.
If the assets are being transferred directly from a share registry (held on an SRN) or fund manager, this portion of the in-specie transfer form can be left blank. You are still required to complete Annexure A.
Platform Transfer(Full Transfer):
Select 'Platform' and ensure the highlighted sections have been completed.
It is important that the name of the account provided in this section matches the exact name as held with the platform where the assets are being transferred from.
Broker Transfer (Full Transfer):
Select “Broker” and ensure the highlighted sections have been completed
It is important that the name of the account provided in this section matches the exact name as held with the broker where the assets are being transferred from. HIN will always start with an "X" and Broker PID is a unique CHESS ID that allows Netwealth to identify the brokers CHESS details. Please note that cash cannot be transferred from brokers (as stated on the form).
The additional comments section allows you to provide additional information. This could include providing any Margin Lending facilities, or information on when the certified ID has been sent to the counterparty/platform to fulfil KYC requirements.
Step 4A: Annexure A
Annexure A must be used to provide an overview of adjusted cost base information when transferring a few assets, a specific number of units or all assets. Cost base details should be submitted in an Excel spreadsheet, including the breakdown of units and other relevant information, especially when multiple tax parcels are involved. Annexure A should also list the total units and asset details, allowing clients to review the transfer request before signing the form.
Issuer Sponsored: An SRN is required and is usually issued by the registry. SRNs start with "10".
Directly held managed funds: The investor number with the fund manager is required along with the asset code (for managed funds, it is generally an APIR code) and the name of the security to proceed. As the asset/APIR code is unique to each managed fund, it is important the code quoted is accurate. Although providing a name is beneficial, Netwealth will always reference the asset/APIR code to accurately identify the managed fund.
Partial transfer: Transfers can be partial in two ways, either by specifying the number of units to be transferred or, by selecting specific assets to transfer from a range of assets held with the counterparty. For partial transfers associated to brokers/platforms, please ensure you reference the HIN/investor number.
Step 5: Transferring International Assets
The same principles as Step 4 will be applicable to international assets, as well as providing the relevant information required including stock exchange, ticker/security ISIN etc. Please follow the instructions in Step 4 in context with international asset information and counterparty information.
Step 6: Member declaration
This section declares to Netwealth that the details in the form are true and correct, and that you are eligible for the contributions, understand the Product Disclosure Statement (PDS) and authorise Netwealth to disclose information to your Financial Adviser (if applicable).
Please sign and date this section before submitting to Netwealth.
Step 7: Limited Power of Attorney (LPOA)
The Netwealth in-specie transfer form encompasses a Limited Power Of Attorney (LPOA). This enables Netwealth to act on behalf of the account for the purpose of transferring assets.
LPOA gives authority to Netwealth to act on behalf of the account holders to assist with the transfer of assets outlined on the in-specie form (and only those assets). To complete this section, the current registered owner/s of the assets must complete the required details on the form, and sign where indicated.
Depending on the account type assets are being transferred from, you may need to complete one or multiple LPOA as follows:
| Account Type | Details for signing |
| Corporate trustee for SMSF or Company | Multiple directors may sign in the signatory section. Company details to be provided on the LPOA |
| Trusts (including SMSFs) with individual trustees | Multiple Trustees may sign in the signatory section. Signatures need to be witnessed. |
| Joint accounts | Multiple account holders may sign in the signatory section. Signatures need to be witnessed. |
| Individual accounts | Signature needs to be witnessed. |
It is important that the LPOA reflects the account details of the counter party from which the assets are being transferred from. This includes name of account, trustee names applicable (corporate or individual) and address as held with the counter party.
Please sign the LPOA with a witness.
Print, sign and submit with the supporting documents
The form needs to be provided by mail, or uploaded using the adviser or client upload facility. If the upload facility is utilised, Netwealth may also request a copy of the original. The original may be requested by the counterparty or required by Netwealth for internal review. This can be at a later stage and Netwealth request the adviser to retain the original for up to seven years after uploading.
The in-specie transfer form only requires one set of signatures at the end of the form. By signing, the signatories are confirming that the form has been reviewed to be true and correct before signing the form. The form holds two sections. The first section is relevant to individual account holders, individual trustees or joint account holders. The second section is relevant to companies and corporate trustees where the sole director, director/secretary or director’s may sign to authorize the transfer instruction.
Signing must be witnessed for all signatories who are individuals, individual trustees or joint account holders. Witnesses must be over 18, not involved in the transfer (i.e. not from the transferring or receiving parties), and must witness the signing in person.
Frequently Used Terms
| Term/Acronym | Definition |
| 005 | Transfer of ASX Shares being held by a Broker using the clients HIN. |
| 015 | Transfer of ASX Shares from the clients holding under an SRN provided under an Issuer. |
| 001 | Transfer of ASX Shares or Managed Funds from an external platform to Netwealth. |
| Directly Held Managed Fund | Managed funds held by the client through various fund managers (e.g. Fidante, Antares & Morningstar etc). |
| HIN | Holder Identification Number - a unique ID issued by the ASX when securities are held through a broker (e.g. AusieX, Bell Potter etc). |
| SRN | Security Reference Number - references the unique ID issued when securities are directly held with the fund registry (e.g. Computershare, Link etc). |
| ASTF | Australian Standard Transfer Form - a form that is often used in conjunction with the in-specie transfer form. |
| COBO/CBO | Change of Beneficial Ownership. |
| NCOBO/NCBO | No Change of Beneficial Ownership. |
| LPOA | Limited Power of Attorney. |
| NCB | No Cost Base - Referencing assets where adjusted cost base is not provided at the time of a No Change of Beneficial Ownership transfer. |
Frequently Asked Questions:
What is the purpose of providing a current portfolio valuation (PV)?
A portfolio valuation will provide insight on what assets are currently held in the account from which the assets are being transferred. This is useful where Netwealth will be completing a full transfer as it will allow reconciliation of the number of units requested (where specified), the number of units the account currently holds, and the number of units provided in the adjusted cost base. This reconciliation will ensure that appropriate cost base information is applied, and all units held on the counterparties end are requested by Netwealth to conduct a full transfer of each asset requested.
Can the LPOA associated with the in-specie transfer form be used to commence the administration of non custodial investments (NCI) associate with the multi-asset portfolio services (MAPs)?
No, this is because the LPOA associated with the in-specie transfer form stipulates that it is only for the use of transferring custodial assets. Therefore, our compliance and fund managers that Netwealth liaise with administer NCI would not be able to accept this LPOA.
What if the clients do not wish to complete the LPOA?
A limited power of attorney enables Netwealth to provide assistance and increase efficiencies by liaising on behalf of the investor where completed. Where a client wishes to transfer their assets in an alternative manner, Netwealth may be able to complete the Australian Standard Transfer Forms (ASTFs) for the client to sign and return. Without a LPOA, Netwealth may not be able to follow up, request further information or act on behalf of the clients for the purpose of transferring the assets. The LPOA is null and void once the last asset has been transferred. The LPOA allows Netwealth to complete Australian Standard Transfer Forms on the client's behalf and liaise with counterparties to conduct the transfer.