A Retirement Sub-account is used as a repository for certificates that the Account Holder wants to designate as a voluntary retirement and remove the certificates from circulation. Once a certificate has been transferred into a Retirement Sub-Account, it cannot be transferred again to any other Sub-Account.
How do I Retire Certificates for Voluntary Reasons?
The retirement of certificates is an action taken within NC-RETS to permanently remove a certificate from circulation. Retirement may be initiated only by the Account Holder for certificates in his/her own Sub-accounts. Voluntary retirement is effectuated by transferring certificates into a Retirement Sub-account.
A Retirement Sub-account is used as a repository for Certificates that the Account Holder wants to designate as voluntarily retired. There are three ways that Certificates are deposited in a Retirement Sub-account:
(a) Within an Account, Certificates can be transferred from an Active Sub-account to a Retirement Sub-Account.
(b) An Account Holder can accept a transfer of certificates from another Account Holder directly into a Retirement Sub-Account.
(c) Certificates can be transferred from a Compliance Sub-Account to a Retirement Sub-account prior to the Compliance Sub-Account being submitted for review by the Commission and Public Staff.
An Account Holder choosing to retire a certificate or a block of certificates will use the transfer screen to identify the quantity of certificates to retire and the reason for retirement. The Account Holder must select the Retirement Sub-Account to which the certificates will be deposited.
To transfer certificates to a Voluntary Retirement Sub-Account, please take the following steps:
- In the Account Dashboard, locate the Account Status
- Under the Account Status module, select an 'Active' Certificates link.
Note: The transfer screen can be accessed by selecting any of the Hyperlinked Positions (I.E. Active, Retirement, Bulletin Board, Etc.)
- In the transfer screen, select the batch(s) of certificates that you wish to retire
- Selecting the top box in column A will select all Certificates.
- Adjust transfer quantity as needed
- Review the “Total Quantity” to transfer and Select [Batch Transfer]
- You are then taken to the “Transfer Certificates” screen.
- Select the “Retirement” radio button, choose the appropriate Voluntary Retirement Sub-Account and enter Retirement Details/Reasons as needed:
- Verify all details of the transfer are accurate and select [Submit] to complete the retirement of certificates.