What to do when a American Century account holder dies
Contact American Century's Estate Transfer Team / Legacy Planning — 7-step process, 8 required documents, and set by how quickly the correct form, the certified death certificate, and any required medallion signature guarantee arrive. a guarantee cannot be arranged by notary and the tod form cannot be faxed when a guarantee is required, so that step drives the timeline more than american century processing does.
American Century Investments, PO Box 419200, Kansas City, MO 64141
Estate Transfer Team / Legacy Planning
Estate Transfer Team
American Century Investments, PO Box 419200, Kansas City, MO 64141-6200 (overnight: 801 Pennsylvania Ave., Suite 419200, Kansas City, MO 64105-1307)
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.
American Century provides an online portal for initiating death claims, which can simplify the initial notification and document submission process. Claims can also be started by phone or by mailing the required documents.
Death claim process
To file a claim after an account holder's death, here is what American Century requires:
Filing a claim
- Retirement accounts (Traditional IRA, Roth IRA): certified death certificate + Beneficiary Instruction Form (CL-FRM-97894)
- Individual, joint, or trust NON-retirement accounts: certified death certificate + Decedent Account Instruction Form
- TOD-registered accounts: certified death certificate + Transfer on Death 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 (obtain it from the probate division of the county where the decedent lived)
- Joint account: the surviving owner signs; if a new joint owner is being added, that person signs too
- Personal trust account: every trustee authorized to act now must sign (surviving trustees still authorized, plus any new trustees), and you send the trust title page, signature page, and the pages identifying who may act after a trustee dies
- TOD account: each beneficiary asserts on the form that there are no known disputes over who is entitled to the distribution
Required Documents
- Certified copy of the death certificate
- Decedent Account Instruction Form (individual, joint, or personal trust non-retirement accounts)
- Beneficiary Instruction Form, CL-FRM-97894 (Traditional and Roth IRAs)
- Transfer on Death Account Instruction Form, CL-FRM-95431 (TOD-registered accounts)
- Court appointment of the personal representative, OR a properly executed small estate affidavit, for a decedent individual account with no beneficiary designation
- Trust document title page, signature page, and the pages identifying who is authorized to act after a trustee dies (trust accounts)
- 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 transfers of $100,000 or more to an account not registered in the signer name)
Claims Contact
What to know at this institution
American Century publishes its required-document matrix by registration type at https://www.americancentury.com/invest/solutions/legacy-planning-inheritance/, and it explicitly accepts a small estate affidavit in place of a court appointment for a non-probated individual account. Clients also get free access to Atticus, an outside estate-settlement tool, whether or not the inherited assets are held at American Century. Inherited IRA distributions follow federal rules: under the SECURE Act, most non-spouse designated beneficiaries of an owner who died after 2019 must empty the inherited IRA within 10 years, with exceptions for eligible designated beneficiaries (surviving spouse, minor child of the owner, disabled or chronically ill beneficiary, and a beneficiary not more than 10 years younger than the owner). Confirm your distribution schedule with a tax advisor -- American Century states it does not provide tax advice.
Prepare your letter of instruction to American Century
American Century provides its own letter-of-instruction form. Answer a few questions and we complete that official form for you to print and sign.
Build your letter of instructionHow long the process takes at American Century: Set by how quickly the correct form, the certified death certificate, and any required Medallion Signature Guarantee arrive. A guarantee cannot be arranged by notary and the TOD form cannot be faxed when a guarantee is required, so that step drives the timeline more than American Century processing does. The most common reason for delays is missing or incomplete documentation, so submitting everything upfront is the best way to keep things moving.
Documentation required by American Century includes Certified copy of the death certificate, Decedent Account Instruction Form (individual, joint, or personal trust non-retirement accounts), and Beneficiary Instruction Form, CL-FRM-97894 (Traditional and Roth IRAs), along with additional paperwork that varies by account type. All death certificates and court documents must be certified copies.
Frequently asked questions
Often, yes, and the trigger is a dollar threshold. The Decedent Account Instruction Form requires a signature guarantee when an heir signs on a non-probated estate and the transfer is $100,000 or more to an account not registered in that heir name alone; when a surviving joint owner adds a new joint owner or moves assets to an account they do not own and the transfer is $100,000 or more; and when trustees transfer to a new trust or a non-trust account and the transfer is $100,000 or more. American Century states plainly that a notary acknowledgement is not acceptable where a signature guarantee is required -- the stamp must read "Signature Guaranteed/Medallion Guaranteed" from a firm participating in a Securities Transfer Association guarantee program. Plan for a bank or broker visit before mailing.
It depends on the registration, and there are three. Traditional and Roth IRAs use the Beneficiary Instruction Form (CL-FRM-97894). Individual, joint, and personal trust non-retirement accounts use the Decedent Account Instruction Form. TOD-registered accounts use the Transfer on Death Account Instruction Form (CL-FRM-95431). Every path also requires a certified copy of the death certificate. A decedent individual account with no beneficiary additionally needs the court appointment of the personal representative -- or a properly executed small estate affidavit, which American Century accepts in its place.
On non-retirement accounts, yes -- with the Transfer on Death (TOD) Agreement (CL-FRM-95684.1). The TOD Rules limit the registration to individual accounts, joint tenants with rights of survivorship, and tenants by the entireties, and the designation must be signed and delivered while the investor (or the last surviving joint owner) is alive. Two constraints catch people: your estate cannot be named as sole primary TOD beneficiary, and the TOD only takes effect after the LAST surviving joint owner dies. TOD directions are accepted in Kansas City, Missouri and governed by Chapter 461 of the Revised Statutes of Missouri. TOD cannot be used on an IRA or any other retirement plan.
By default, American Century steps up basis using the DATE OF DEATH valuation for the decedent shares that transfer. If the estate elects an IRS alternate valuation date, you must contact American Century or notify them in writing -- the default will otherwise stand. Shares acquired after the date of death keep their original cost basis when transferred, unless they were acquired before the alternate valuation date. American Century does not provide tax advice; confirm the election with the estate tax preparer.
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.
Multiple American Century investment accounts may mean multiple claims. Some account types can be processed together, but others require their own documentation. Check with the Estate Transfer Team to confirm what applies.
Sources
Data sourced from American Century primary sources (21 pages reviewed). How we research.
American Century Investments, PO Box 419200, Kansas City, MO 64141
Estate Transfer Team / Legacy Planning
Estate Transfer Team
American Century Investments, PO Box 419200, Kansas City, MO 64141-6200 (overnight: 801 Pennsylvania Ave., Suite 419200, Kansas City, MO 64105-1307)
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