Selecting the correct ACATS Participant Number is critical to a successful transfer. Searching by your financial institution's name alone may not be enough.
Why Does This Matter?
Many financial institutions operate multiple entities that sound similar but have different Participant Numbers, each with its own account number format requirements. This often occurs because banking and brokerage services are run as separate legal entities, or because your institution clears through a different custodian that may not share your institution's name. For example:
- JP Morgan Chase Bank, National Association — Participant #0902
- JP Morgan Securities — Participant #0352
These are separate entities. If the Participant Number you select does not match the financial institution holding your account, your transfer may be rejected, or you may receive a warning that the account format entered does not match the selected institution's requirements.
Before You Proceed, Confirm:
- The exact name of the institution holding your account (not just the institution you bank with).
- The Participant Number that belongs to that specific institution. Check your brokerage statement or online banking portal to locate it.
- That your account number format matches your statement. Note: Some brokers require additional letters before your account number, or require certain digits to be removed. Confirm any specific requirements with your broker to ensure your ACATS transfer processes successfully.
Not Sure Which Participant Number to Select?
- Contact your delivering firm and ask: "What is your ACATS Participant Number, and what is the account number format for my account?"
- Once you have confirmed these details, you are ready to proceed with your transfer.