Add or change beneficiaries for non-IRA accounts (Transfer on Death).Add telephone or online purchase or redeem options.Add or change a systematic withdrawal plan.You must provide an SVP Stamp when you request any of the following: When an institution provides an SVP Stamp, it ensures that the signature and instructions are genuinely yours and that you have the authority to provide the instruction(s) contained within the non-financial or maintenance request. When is an SVP Stamp required? A Signature Validation Program Stamp is required on certain maintenance and non-financial requests for your protection. A notary’s seal cannot serve as an alternative to a Signature Validation Program Stamp.
For this reason, only originals will be accepted. An original Signature Validation Program Stamp uses bar codes and special ink and has other security features to deter counterfeiting. There is a limit of $100,000 per transaction and $200,000 in aggregate for multiple events. How does SVP work? An officer of a financial institution reviews the proper legal documents pertaining to your request, witnesses your signature, and verifies that your signature is genuine by stamping the form or letter and signing his or her name and title. SVP Stamps are used across the investment industry to protect shareholder accounts from unauthorized maintenance or non-financial requests. What is SVP? The Signature Validation Program is a plan designed to provide protection against fraud and forgery for non-securities transactions that are not covered under section 306 of the UCC.
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