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Basic stock issues for former and current HP and HPE employees.  (Mar 23, 2024)  Question? Email: info@hpalumni.org 

Received a "Potential Private Retirement Benefit" letter from Social Security? How to decode the letter and who to contact, if necessary: Potential Benefit letter

Inherited stock, unlike gifted securities, is not valued at its original cost basis. When an individual inherits a stock, its cost basis is stepped up to the value of the security at the date of the inheritance.

Donating stock. "If you are planning donations to charity anyway, you may be able to avoid having to figure out the basis for stocks by just donating the stock. Check with an accountant or tax advisor for details or possible pitfalls. Saved me a lot of grief." --HPAA member

Heads Up! No one really cares about your employment-related stock -- but you.

You must keep each stock brokerage and administrator up-to-date with your current postal and email addresses.  Your current or former employer does not handle employee-stock-related address changes.

You must make direct contact with each brokerage and administrator at least once a year. Otherwise, depending on state laws and the brokerage or administrator's policies, members report that your stock may be turned over to a state as unclaimed property -- which can be very difficult to retrieve. Checking your statements online doesn't count.

Given the large number of financial companies involved in employee stock -- which change from time to time and may not have passed along the date and cost basis information for each of our stock lots -- you must preserve your own copies of your records.

At some point, you may want to sell some stock -- which could include shares in HP, HPE, Agilent, Keysight, DXC, Perspecta... The brokerage will use the cost basis in their records (which may be $0) to report your apparent profit to the IRS. You could pay taxes twice on the same income!

Easy to check for lost stock and uncashed checks: https://www.hpalumni.org/Unclaimed

If you have stock records or paper stock certificates from:  Agilent (A)    Autonomy (AUTNF)    Compaq (CPQ)    DEC (DEC)    DXC (DXC)    EDS (EDS)    Hewlett-Packard/HP Inc (HWP, HPQ)    Hewlett Packard Enterprise (HPE)    Keysight (KEYS)    Micro Focus (MFGP)    Perspecta (PRSP)    Poly/Plantronics (POLY)    Tandem (TDM)    Other Predecessor Companies

Suggested next step:  Spinoff Shares and Cash

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