How to name beneficiaries and fund a trust at Ameriprise
Covers 7 investment, 3 deposit, 5 retirement, and 5 insurance accounts — beneficiaries can be managed online
Client Service Center
Ameriprise Financial Services, LLC, 70100 Ameriprise Financial Center, Minneapolis, MN 55474
Estate Settlements
Ameriprise Financial Services, Inc., 70010 Ameriprise Financial Center, Minneapolis, MN 55474
Estate Settlements
Ameriprise Financial Services, Inc., 70010 Ameriprise Financial Center, Minneapolis, MN 55474
The key to protecting your Ameriprise investment accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
Ameriprise has 20 product types, and the estate transfer rules differ across them. Some support Transfer on Death (TOD) designations, some can be retitled into a trust, and others will require probate if nothing is set up. Each is covered below.
- Enter primary and contingent beneficiary designations
- Provide beneficiary name, date of birth, relationship, and percentage allocation
- For trusts as beneficiary: provide trust name and date established
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Beneficiary changes CANNOT be made by phone (a beneficiary designation acts as a substitute for a will)
- Paper form processing: designation reviewed within 5 business days
- Confirmation letter mailed within 2-4 weeks
- Beneficiary Team phone: 1-800-862-7919
- Different forms for brokerage (Form 3214), IRA (Form 3993), annuity/life insurance (Form 33032 or 38120 for NY), Privileged Asset annuities (Form 51498 or 274597 for NY)
- RiverSource Life of New York uses separate forms (Form 38120 for beneficiary, Form 38111 for death claim) and a separate phone line (1-800-541-2251)
- Trusts can be named as IRA beneficiary; IRA moves to Trust Beneficial ownership at claim time
- Named beneficiaries override your will
- Ameriprise Bank products can only update beneficiaries online via the secure site
- Spousal signature required in Community Property States (AZ, CA, ID, LA, NV, NM, TX, WA, WI) unless spouse is named as 100% sole primary beneficiary by name
- The published beneficiary-change process does not require a Medallion Signature Guarantee; changes are made online, submitted by the financial advisor, or completed on the paper form (per https://www.ameriprise.com/customer-service/beneficiary-designation-faqs)
Sources
Data sourced from Ameriprise primary sources (21 pages reviewed). How we research.
Download these Ameriprise instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Ameriprise primary sources. Bring it to the branch or keep it beside the phone.
Client Service Center
Ameriprise Financial Services, LLC, 70100 Ameriprise Financial Center, Minneapolis, MN 55474
Estate Settlements
Ameriprise Financial Services, Inc., 70010 Ameriprise Financial Center, Minneapolis, MN 55474
Estate Settlements
Ameriprise Financial Services, Inc., 70010 Ameriprise Financial Center, Minneapolis, MN 55474
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