What to do when an American Century account holder dies
Report the death to American Century's Estate Transfer Team at 1-800-422-3301
After an account holder at American Century dies, accounts with beneficiary designations or trust ownership transfer to the designated recipients without probate. Solely-owned accounts require the estate's representative to contact American Century's Estate Transfer Team at 1-800-422-3301 with the proper legal authority documents.
Death claim process
To file a claim after an account holder's death, here is what American Century requires:
Filing a claim
- The 1-800-422-3301 number is printed on the Decedent Account Instruction Form, the TOD Account Instruction Form and the Inheritance Checklist
- The Inheritance Checklist has a blank line for the name and extension of the American Century estate representative assigned to you
- Traditional and Roth IRAs: a certified death certificate and the Beneficiary Instruction Form (CL-FRM-97894)
- Individual, joint or trust accounts, not retirement: a certified death certificate and the Decedent Account Instruction Form
- TOD-registered accounts: a certified death certificate and the Account Instruction Form (CL-FRM-95431)
- Individual account, probated estate: the executor or personal representative signs the Decedent Account Instruction Form; heirs also sign if assets go to non-estate accounts for them
- Individual account, not probated: the heirs sign, and American Century accepts a properly executed small estate affidavit in place of a court appointment
- Joint account: the surviving owner signs, and so does any new joint owner being added
- Personal trust account: every trustee now authorized to act signs, and you send the trust's title page, signature page and the pages naming who may act after a trustee dies
- TOD account: each beneficiary states on the form that there are no known disputes over who is entitled to the distribution
- Proof of death for the investor and for any beneficiary who did not survive
- The full name and address of each beneficiary taking a distribution, and each percentage share
- A statement that there are no known disputes over entitlement or amounts and no known claims affecting the distribution
- A notarized signature of any beneficiary or of the personal representative of the estate
- Certification of each beneficiary's taxpayer identification number
- An inheritance tax waiver, if the deceased person's state requires one
- A certified copy of the court order appointing the personal representative, where a personal representative is executing the request
- Heir, on the Decedent Account Instruction Form: if the estate is not probated, the transfer goes to an account not in that heir's name alone, and the transfer is $100,000 or more
- Surviving joint owner: if adding a new joint owner or transferring to an account they do not own, and the transfer is $100,000 or more
- Trustees: to transfer to a new trust or a non-trust account, when the transfer is $100,000 or more
- On the TOD Account Instruction Form: only when adding an owner and the total account value is $100,000 or more. The form must then be mailed; it cannot be faxed
- Mutual fund and TOD paperwork: American Century Investments, PO Box 419200, Kansas City, MO 64141-6200 (fax 1-877-288-5960 for the TOD Account Instruction Form)
- Brokerage paperwork: American Century Brokerage, PO Box 419146, Kansas City, MO 64141-6146 (fax 1-888-327-2014)
- Overnight: 801 Pennsylvania Ave., Suite 419200, Kansas City, MO 64105-1307
Required Documents
- Death certificateA certified copy.
- Decedent Account Instruction Form, for individual, joint or personal trust accounts that are not retirement accounts
- Beneficiary Instruction Form (CL-FRM-97894), for Traditional and Roth IRAs
- Account Instruction Form for assets previously held by a deceased owner (CL-FRM-95431), for TOD-registered accounts
- Court appointment of the personal representative, or a small estate affidavit, for an individual account with no beneficiary designationAmerican Century accepts a properly executed small estate affidavit in place of a court appointment. It comes from the probate division of the county where the deceased person lived.
- Certified copy of the court appointment, to open a brokerage account for the estateCertified within 60 days of American Century receiving it, for the executor, personal representative or administrator.
- Trust title page, signature page and the pages naming who may act after a trustee dies, for trust accounts
- Notarized signature of a beneficiary or of the personal representative, for a TOD transfer
- Inheritance tax waiver, for a TOD transfer, if the deceased person's state of residence requires one
- Proof of death for any beneficiary who did not survive, for a TOD transfer
- Certification of each beneficiary's taxpayer identification number, for a TOD transfer
- Certified copy of the court order appointing the personal representative, for a TOD transfer, where a personal representative is executing the request
- Social Security number, date of birth, citizenship and address, for each heir or beneficiary receiving assets
- Medallion Signature Guarantee, where the form requires it, generally for transfers of $100,000 or more to an account not in the signer's nameA notary acknowledgement is not accepted where a signature guarantee is required.
Claims Contact
Website: Online portal →
Forms American Century issues4
- Decedent Account Instruction Form
Completed by the executor or personal representative, the heirs, the surviving joint owner or the trustees. Available to download.1
- Beneficiary Instruction Form (CL-FRM-97894)
Completed by the IRA beneficiary. Available to download.2
- Account Instruction Form for assets previously held by a deceased owner (CL-FRM-95431)
Completed by each TOD beneficiary. Available to download.3
- Brokerage Estate/Trust Account Application
Completed by the executor, personal representative or administrator. Available to download.4
What happens to each kind of account2
- Payable-on-death account
A TOD transfer creates a new taxable individual account in the beneficiary's name. The Account Instruction Form certifies the beneficiary's Social Security number and lifts the transaction restrictions on the new account.3
A TOD beneficiary must outlive the investor by 120 hours. A disclaimed share is transferred as though the beneficiary had not survived.5
If no primary or secondary beneficiary survives, the shares go to the estate of the investor or of the last surviving joint owner. A beneficiary's share below American Century's minimum account value may be redeemed and paid out in cash instead.5
If a beneficiary cannot be located, American Century holds that share for six months from its receipt of notice of the death, then transfers it as if the beneficiary had not survived.6
If a trust named as beneficiary has no successor trustee appointed within six months and no trust instrument has been furnished, the transfer is made as if the trust had not survived.6
- IRA
Beneficiaries open an Inherited (Beneficiary) IRA at American Century to receive the assets, using the Beneficiary Instruction Form; the assets are not re-titled into the beneficiary's own IRA. The form sets out the elections: spousal rollover, 10-year rule, 5-year rule, or life expectancy payments.2
Accounts handled elsewhere2
- American Century Brokerage
American Century brokerage accounts6
Phone: 1-888-345-2071
Fax: 1-888-327-2014
Mailing address: American Century Brokerage, PO Box 419146, Kansas City, MO 64141-6146
- American Century team for assets inherited at another firm
Moving inherited assets held at another firm to American Century6
Phone: 1-888-345-9166
Help American Century offers survivors1
- Atticus
An outside estate-settlement tool American Century offers its clients at no cost, whether or not the inherited assets are held at American Century. Atticus, Inc. is not affiliated with American Century. Ask for access when you call.6
Who qualifies: American Century clients.
What American Century's agreement and guidance say2
- What it says about taxes
On accounts that are not retirement accounts, American Century uses the date-of-death valuation to step up the basis of the shares that transfer. If the estate elects an IRS alternate valuation date, the estate must tell American Century in writing.6
Shares acquired after the date of death keep their original basis unless acquired before the alternate valuation date. American Century states it does not provide tax advice.6
Until the beneficiary's Social Security number is certified on the TOD Account Instruction Form, American Century says the IRS requires it to apply backup withholding to distributions and redemption proceeds from the new account.3
- Which state governs the account
Missouri law governs the mutual fund TOD, with disputes heard in Missouri courts.6
American Century's Estate Transfer Team can be reached by phone at 1-800-422-3301 and fax at 1-877-288-5960 for questions throughout the claims process.
Sources
Data sourced from American Century primary sources (16 pages reviewed). How we research.
American Century death claims support
Estate Transfer Team
Phone
Mutual fund and IRA accounts
Brokerage accounts
Fax
Hours
Mailing address
Website
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