Gifting and Stock Will

What is the process for gifting shares?

Gifting just one share can make a significant difference and provide opportunity for the next generation. A single gifted share helps descendants access scholarships, career training, and vital programs—whether for college, trades, or specialized skills. To gift shares, shareholders must submit the necessary documents via MyGoldbelt.

Who can gift shares?

Under Public Law 100-241, 1987 Amendments to the Alaska Native Claims Settlement Act (ANCSA), shareholders over the age of 18 who own stock in a corporation formed under the ANCSA may transfer shares of their Class A and/or B common stock as a voluntary gift (known as an inter vivos gift).

Shareholders can gift shares to the following eligible recipients:

• Children

• Grandchildren

• Great-grandchildren

• Nieces

• Nephews

• Brothers and sisters (by birth or legal adoption before the child reaches 18 years old)

Who is ineligible to receive shares via gifting?

• Parents, grandparents, aunts, uncles, cousins, stepchildren, step-grandchildren, friends, spouses, and non-Alaska Natives are ineligible to receive shares through gifting.

What are the requirements for recipients to receive gifted shares?

The recipient must be Alaska Native and related to the shareholder by blood or adoption (before the recipient’s 18th birthday). There is no minimum blood quantum requirement for recipients of gifted shares, but they must provide proof of their Alaska Native blood quantum.

• Proof of Alaska Native Blood Quantum can be provided through:

  • Copy of Alaska Native tribal identification card

  • Copy of Bureau of Indian Affairs’ Certificate of Degree of Indian Blood (CDIB)

Are there any restrictions on gifting shares?

• Shares must be a true gift; they cannot be bought, sold, or exchanged for anything of value.

• Once the gifting and enrollment paperwork is completed and shares are transferred, the transaction is irreversible.

• The gifting shareholder loses all rights to the gifted shares. Any future dividends or distributions associated with the transferred shares will go to the recipient.

• Shareholders whose stock is subject to an attachment (e.g., court orders for child support or tax levies) cannot gift their shares until the issue is resolved.

What documents are needed for the gifting process?

1. Birth Certificates
   The recipient must provide their birth certificate, which verifies their eligibility. Below is a chart outlining which birth certificates are needed to verify eligibility.

2. Proof of Alaska Native Blood Quantum

   • Copy of Alaska Native tribal identification card

   • Copy of Bureau of Indian Affairs’ Certificate of Degree of Indian Blood (CDIB)

3. Proof of Name Change
   If the name on the recipient’s birth certificate differs from the name on the gifting affidavit, proof of name change must be provided through:

   • Marriage certificate

   • Court order

   • Adoption decree

Can I designate a beneficiary for my shares after I pass away?

Yes, shareholders are encouraged to complete a Testamentary Disposition (Stock Will), which is a legally binding document that ensures your shares are passed to your chosen recipients upon your passing. You have the flexibility to designate any family member, including your spouse, as a beneficiary.

The Stock Will allows you to plan for the future of your shares, ensuring that they go to your designated heirs. This can help prevent confusion and ensure your wishes are carried out.

How can I start the gifting process or create a Stock Will?

You can find the Gifting Packet and Stock Will forms in your MyGoldbelt account. Simply log in to your account and follow the instructions provided to begin the process.