How do I contribute stock from my Merrill account?
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Written by Support
Updated over a week ago

To contribute stock and ensure that it is attributed to your account quickly, you must create a stock contribution "intent" first.

To do this, go to the Daffy app or website and select “Add Funds,” then "Stock," and answer the prompts to let us know the details of your stock contribution. Creating an intent helps us avoid delays in attributing your contribution to your Daffy account.

Please note that Daffy only accepts publicly traded stocks and ETFs.

To initiate a stock transfer from your Merrill brokerage account, you need to complete Merrill's "Outgoing Partial Asset/Gifting Transfer Authorization Letter."

If the amount being transferred is over $50,000, Merrill requires a Medallion signature.

If the amount is below $50,000, the form can be printed and mailed to Merrill or completed and signed electronically.

To access and sign the electronic form, log into your Merrill account, then go to the "Help & Settings" tab, click on "Forms & Applications," and then type the word "gifting" in the search bar.

Here are the remaining steps you'll need to complete:

  1. Create a Daffy stock contribution intent (see above)

  2. Complete Section 2 of the form by selecting both "Gifting transfer" and "Charitable donation"

  3. Go to Section B to "gift securities" and complete the form with the following information:

    1. Receiving Firm Name: Apex Clearing

    2. Receiving Firm DTC Number: 0158

    3. Receiving Account Owner Name: Daffy Charitable Fund

    4. Receiving Firm Account Number: 9SC05050 (Note: This account number has 3 zeros not the letter O)

    5. Receiving Account Owner's Street Address: 221 Main Street, #2061, Los Altos, CA 94023

    6. Please do not make the gift anonymous. We need your name so we can attribute the transfer to your Daffy fund

  4. Sign the form.

Note about Cost Basis: If you would like to send particular lots of a security, it is important that you enter the correct cost basis on the form. Generally, it cannot be changed after the fact. Please record the cost basis of an asset you are donating before transferring the asset to charity as most brokerages do not keep a record of the cost basis once the asset has left your account and you may need the information to fill out tax forms at the end of the year. Daffy does not have access to cost basis information for contributions so we will not be able to provide this information at a future date.

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