Life Events: Transferring a Retirement Account Without a Beneficiary
Information about transferring an IRA when there is no named beneficiary on file
The requirements around transferring accounts when there is no beneficiary on file vary based on whether the account owner passed away before or after November 29, 2021.
1. Transitioning an IRA if the account owner passed away on or after November 29, 2021
Under the terms of the Custodial Agreement if there is no designated beneficiary on file at the time of death the assets belong to the estate.
Probated estate — forms and documents you will need to provide:
- Photocopy of death certificate
- Certified Letters of Testamentary or Letters of Administration, dated within 180 days of receipt at our office
- IRA Beneficiary Claim Request (PDF)
- Beneficiary IRA Application (PDF), if opening a Beneficiary IRA for the estate
- Inheritance tax waiver, if applicable
Nonprobated estate — forms and documents you will need to provide:
- Photocopy of death certificate
- Notarized small-estate affidavit
- IRA Beneficiary Claim Request (PDF) for each individual receiving assets
- Inheritance tax waiver, if applicable
Helpful tip: If you plan to contact us, please be prepared with the deceased’s account owner’s full name, address, Social Security number, and date of death.
2. Transitioning an IRA if the account owner passed away prior to November 29, 2021
Under the terms of the Custodial Agreement, if there is no designated beneficiary on file at the time of death, the surviving spouse can claim the assets as beneficiary. If there is no spouse, or if the account owner’s spouse passed away prior to the account owner, the account owner’s children will then be recognized as beneficiaries. If the account owner did not have children, the assets then go to the estate.
Helpful tip: If you plan to contact us, please have the deceased account owner’s full name, address, Social Security number, and date of death.
A. Account assets transfer to the surviving spouse (first)
Forms and documents you will need to provide:
- Photocopy of death certificate
- IRA Beneficiary Claim Request (PDF)
- IRA Application (PDF), if opening a new IRA
- Inheritance tax waiver, if applicable
B. Account assets transfer to the surviving children (second)
Probated estate — forms and documents you will need to provide:
- Photocopy of death certificate
- Certified Letters of Testamentary or Letters of Administration, dated within 180 days of receipt at our office
- Photocopy of each surviving child’s birth certificate
- IRA Beneficiary Claim Request (PDF) for each surviving child receiving assets
- IRA/ESA Beneficiary — Surviving Child Certification (PDF), completed by personal representative of the estate
- Beneficiary IRA Application (PDF), for each surviving child opening a Beneficiary IRA
- Inheritance tax waiver, if applicable
Nonprobated estate — forms and documents you will need to provide:
- Photocopy of death certificate
- Photocopy of each surviving child’s birth certificate
- IRA Beneficiary Claim Request (PDF) for each surviving child receiving assets
- Affidavit of Surviving Children — No Probated Estate (PDF), completed by all surviving children
- Beneficiary IRA Application (PDF), for each surviving child opening a Beneficiary IRA
- Inheritance tax waiver, if applicable
C. Account assets transfer to the estate (third)
Probated estate — forms and documents you will need to provide:
- Photocopy of death certificate
- Certified Letters of Testamentary or Letters of Administration, dated within 180 days of receipt at our office
- IRA Beneficiary Claim Request (PDF)
- IRA/ESA Beneficiary — Surviving Child Certification (PDF), completed by personal representative of the estate
- Beneficiary IRA Application (PDF), if opening a Beneficiary IRA for the estate
- Inheritance tax waiver, if applicable
Nonprobated estate — forms and documents you will need to provide:
- Photocopy of death certificate
- Notarized small-estate affidavit
- IRA Beneficiary Claim Request (PDF) for each individual receiving assets
- Inheritance tax waiver, if applicable
