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How to go about selling NRMA shares (now IAG shares) is a reasonably common question with many Australian acquiring them as part of the demutualisation of the NRMA insurance business in 2000.
Insurance Australia Group (IAG) was formed by NRMA’s demutualisation with many NRMA members at the time receiving issuer-sponsored shares.
When it comes to selling NRMA shares (IAG) it’s not unusual to feel unsure about the process, especially if you didn’t purchase the shares yourself and don’t hold any other shares.
You may think you need a trading account or have to have an existing relationship with a stockbroker to sell your NRMA shares but this isn’t the case for shares directly issued to you.
For one-off sales you can engage an online broking service like Sell My Shares that take care of the process for you.
It’s important though to make an informed decision before selling NRMA shares (IAG shares).
You will want to check the current share price and have an understanding of where the market is at. Is now a good time to sell those shares?
You should also be aware that selling NRMA shares, like any other shares, can attract capital gains tax (CGT) and your tax payable amount will depend on how long you’ve held those shares. For this reason, it’s a good idea to speak to an accountant so you are across your tax obligations. You will also need to pay a brokerage fee, keeping in mind that an online service like ours is a much more affordable option than engaging the full services of a stockbroker.
We can manage the process for selling NRMA shares (IAG shares) online quickly and efficiently.
During the online submission process, you will be asked to provide a shareholder reference number which can be found on your holding or dividend statement.
You will also be asked to provide information for proof of identity. In some special circumstances, you may also need to complete further documentation but we will guide you through each of these steps and make it as simple as possible.
Following this, the sale process is reasonably quick. We will execute a trade to sell your NRMA (IAG) shares and around two business days after that, the ownership of the shares will be legally transferred. Proceeds of the sale can be sent to you on day three, depending on the service you chose.
To sell your (IAG) NRMA shares contact Sell My Shares today on 1300 722 852.