Overview
This error appears in CAS 360 when recording a Share Transfer where the “Transfer From” and “Transfer To” fields contain the same shareholder.
A share transfer must involve two different shareholders. If both fields reference the same entity, CAS 360 will prevent the transaction and display the error.
Common Scenario
This error frequently occurs when users attempt to process transactions such as:
Transfer from Client A to Client A ATF Trust
Transfer between two records that represent the same underlying entity
Updating beneficial ownership details using the Share Transfer transaction type
In many of these cases, the transaction is not an actual share transfer, but rather a change in beneficial ownership.
Why This Happens
If:
The Beneficially Held Status remains the same; and
Only the Beneficial Owner is changing (for example, from an individual to an ATF trust structure where the shareholding is not truly transferring between two separate shareholders),
Then the Share Transfer transaction type is not appropriate.
CAS 360 requires the From and To shareholders to be different when using a Share Transfer.
If the Beneficial Owner is Changing
If you are updating the beneficial owner but the beneficially held status of the shares remains the same, you should use Change of Beneficial Ownership instead of a Share Transfer.
Please refer to the following article for full instructions: Change to Beneficial Ownership
Can you please confirm the process to transfer shares from shareholders of one company to the exact same shareholders under a different company. You are unable to transfer shares from one company to the same shareholder under a different company. Please make sure you have selected a different contact.