What to do when an Ameriprise account holder dies
Report the death to Ameriprise's Estate Settlement team at 1-800-862-7919
After an account holder at Ameriprise 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 Ameriprise's Estate Settlement team at 1-800-862-7919 with the proper legal authority documents.
Death claim process
The death claim process at Ameriprise works as follows:
Filing a claim
- Name and account number(s) for the deceased person
- Date of death (day, month and year), which Ameriprise needs to calculate account values on the date of death
- Name and contact information for the executor, or the person settling the estate
- Names and contact information of claimants or heirs who may inherit
- A claimant has already died
- A claimant is under 18
- A claimant has a fiduciary, such as a court-appointed guardian or conservator or an attorney-in-fact, acting for them
- The estate will not go through probate and the executor would like to discuss alternate options
- Brokerage, advisory and certificate accounts and Ameriprise Bank deposit accounts: Estate Settlement Claim - Beneficiary Directed (Form 116189)
- RiverSource Life insurance and annuities: Insurance and Annuity Death Claim Statement (Form 140838), one per beneficiary
- RiverSource Life of New York: Death Claim Statement for RiverSource Life of NY (Form 38111)
- RiverSource annuities held through Privileged Assets: Death Claim Statement (Form 12179), or Form 200334 in New York
Required Documents
- Certified copy of the death certificate
- New account paperwork for heirs
- Copy of the court order appointing the executor, personal representative or administrator, for an executor, personal representative or administrator to give instructionsIt must bear an official court seal or the signature of the probate court judge.
- Estate or inheritance tax waiver from the state tax authorities, in states that require one before assets in the deceased person's account are released
- An EIN for the claimant, when the claimant on Form 116189 is an irrevocable trust or an estateIf an EIN is not provided, mandatory withholding applies.
- Certified letters of appointment or letters testamentary, when an estate claims on Form 140838If the taxpayer identification number given is not specific to the estate, mandatory withholding applies.
- Completed power of attorney (eForms - Authorized Person), when an attorney-in-fact signs Form 140838 for the claimantRequired if it is not already on file.
- Court order for the guardian or conservator, dated within the last 12 months, when a guardian or conservator acts for the claimant on Form 140838
- Original, raised-seal certified death certificate indicating the cause of death, on a Form 12179 annuity claim
- The original contract, on a Form 12179 annuity claim, if available
- Original letters of administration or letters testamentary, when an estate claims on Form 12179Submit an original with a raised or color-coded seal, or another court document appointing the personal representative.
- Copy of the small estate affidavit or other form the state requires, when the estate qualifies as a small estate in the decedent's state of residence, on a Form 12179 claim
- Certified letters of appointment, when the estate is the beneficiary of a RiverSource Life of New York claimThey must remain on file in New York.
Forms Ameriprise issues5
- Estate Settlement Claim - Beneficiary Directed (Form 116189)
Completed by the claimant, for Ameriprise brokerage, advisory and certificate accounts and Ameriprise Bank deposit accounts. Available to download.1
- Insurance and Annuity Death Claim Statement (Form 140838)
Completed by each beneficiary or claimant on a RiverSource Life Insurance Company claim. Available to download.2
- Death Claim Statement for RiverSource Life of NY (Form 38111)
Completed by each beneficiary on a RiverSource Life Insurance Co. of New York claim. Available to download.3
- Death Claim Statement (Form 12179)
Completed by each beneficiary of a RiverSource annuity held through Privileged Assets, outside New York. Available to download.4
- Death Claim Statement, New York (Form 200334)
Completed by each beneficiary of a RiverSource Life of New York annuity held through Privileged Assets. Available to download.4
What happens to each kind of account3
- Joint account with survivorship
A surviving joint account holder removing a deceased owner does not use Form 116189. The survivor uses the secure site on ameriprise.com to transfer to an existing account or apply for and transfer to an account in the desired ownership.1
If the account was jointly held with rights of survivorship, the surviving owners may elect to continue or stop scheduled activity and banking features such as check writing and online bill pay.5
- Investment account
A claimant who takes ownership of a managed account through Form 116189 ends the Ameriprise Managed Account agreement: no account management fee is charged, no Managed Accounts services are provided, and the claimant must fully liquidate or transfer the account in kind within 90 days.1
If the account is not liquidated within 90 days, Ameriprise transfers the assets into an Ameriprise Brokerage Account in the same ownership, where the brokerage fees in the Ameriprise Brokerage Client agreement apply.1
The claimant inherits the investments in the account, such as fund shares, stocks or bonds, but not the account itself. The securities must be re-registered or transferred into the recipient's ownership before they can be sold.5
- Annuity
RiverSource waives any surrender charges on the contract when it is surrendered due to death.6
Accounts handled elsewhere9
- RiverSource Life Insurance Company
RiverSource insurance policies5
Phone: 1-800-862-7919
- RiverSource Life Insurance Co. of New York
RiverSource Life Insurance Co. of New York products5
Phone: 1-800-541-2251
- Ameriprise Bank, FSB
Ameriprise Bank products and the Ameriprise Visa Debit Card5
Phone: 1-888-356-1006
- Ameriprise Visa Signature
The Ameriprise Visa Signature credit card5
Phone: 1-833-396-7253
- Ameriprise Rewards Program
Ameriprise Rewards Program accounts5
Phone: 1-800-867-0843
- Cenlar
Ameriprise home lending accounts it sub-services5
Phone: 1-888-477-6365
- Rushmore Loan Management
Ameriprise home lending accounts it sub-services5
Phone: 1-877-888-4606
- RiverSource Life Insurance Company
Questions on completing the Death Claim Statement (Form 12179)6
Phone: 1-800-633-4003
Fax: 1-612-547-1678
- RiverSource Life Insurance Co. of New York
Questions on completing the New York Death Claim Statement (Form 200334)7
Phone: 1-800-633-3565
Fax: 1-612-547-1678
What Ameriprise's agreement and guidance say4
- What it does when notified
Except where an account has co-owners, Ameriprise restricts the accounts to prevent unauthorized activity until the claim form and documents are in good order. The accounts stay associated with the deceased person and may be subject to market fluctuation.5
Unless the account was joint with rights of survivorship, scheduled arrangements and a brokerage account's banking features are stopped once Ameriprise is notified. If a check was issued after the death, Ameriprise may need to cancel or reissue it.5
- How proceeds are paid
Proceeds are often placed in a new account in the claimant's name, to support tax reporting and establish correct ownership.5
One claimant's portion can often settle on its own. A few products cannot be sold or transferred until every claimant's materials are in good order, because Ameriprise cannot split up or sell them in pieces.5
Ameriprise Bank deposit products settle by check to the claimant's address on Form 116189. Brokerage and advisory accounts it creates are restricted to full liquidation and in-kind transfers.1
For non-qualified accounts and IRAs, the new account's money settlement option is the Ameriprise Insured Money Market Account (AIMMA).1
On a RiverSource insurance or annuity claim, the death settlement option selected is permanent and cannot be changed or reversed after the claim is processed.2
- Payment to a minor or incapacitated beneficiary
If a claimant is under 18, Ameriprise reviews the situation and says whether anything more is needed, such as additional forms or signatures.5
- What it says about taxes
Ameriprise says "tax withholding may be required on a settlement based on state and/or federal regulations or on federal withholding elections."5
Sources7
- 1.Estate Settlement Claim - Beneficiary Directed (Form 116189), I (12/24)
- 2.Insurance and Annuity Death Claim Statement (Form 140838), AU (02/24)
- 3.Death Claim Statement for RiverSource Life of NY (Form 38111), CR (02/24)
- 4.Servicing Forms for Annuities
- 5.Your guide to Estate Settlements
- 6.Death Claim Statement (Form 12179), Z (4/26)
- 7.Death Claim Statement, RiverSource Life Insurance Co. of New York (Form 200334), X (4/26)
Several business days once the claim form and required documents are received in good order.
Ameriprise's Estate Settlement team can be reached by phone at 1-800-862-7919 for questions throughout the claims process.
Sources
Data sourced from Ameriprise primary sources (28 pages reviewed). How we research.
Ameriprise death claims support
Estate Settlement team
Phone
RiverSource Life of New York
Ameriprise Bank, FSB products
Ameriprise home loans serviced by Cenlar
Ameriprise home loans serviced by Rushmore Loan Management
Hours
Mailing address
Website
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