What to do when a BNY Mellon account holder dies
Contact BNY Mellon's BNY Wealth Trust & Estate Services — 5-step process, 9 required documents, and processing time varies based on account type and documentation completeness. bny wealth estate settlement specialists actively manage the transition. contact the appropriate division for a specific timeline estimate.
Brand change
The Bank of New York Mellon Corporation unified its public brand to "BNY" in June 2024. The consumer wealth division, formerly BNY Mellon Wealth Management, now operates as BNY Wealth; the RIA/broker-dealer custody arm, formerly BNY Mellon Pershing, is now BNY Pershing. Same legal entity — the file id and slug retain "bny-mellon" so legacy links resolve. Effective June 2024.
The procedures below reflect BNY Mellon's accounts. Account servicing may transfer as the change takes effect.
BNY Wealth / BNY Investments Client Services
240 Greenwich Street, New York, NY 10286
BNY Wealth Estate Settlement / BNY Investments Client Services
BNY Shareholder Services, P.O. Box 534434, Pittsburgh, PA 15253-4434; BNY Brokerage Services, 144 Glenn Curtiss Blvd, 9th Floor, Uniondale, NY 11556
What happens to BNY Mellon accounts after the account holder dies depends on how each account was titled. Beneficiary-designated and trust-owned accounts transfer directly. Accounts in the deceased's name alone go through the estate, and the executor or administrator works with BNY Mellon's BNY Wealth Estate Settlement / BNY Investments Client Services (1-800-610-8229) to claim the funds.
BNY Mellon 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
The death claim process at BNY Mellon works as follows:
Filing a claim
- BNY Wealth Management accounts: call 1-800-610-8229 to notify the estate settlement team and request the required documentation checklist
- BNY Investments mutual fund accounts: call 1-800-645-6561 (24/7) or 1-800-373-9387 (9am-5pm ET, Monday-Friday)
- BNY Brokerage accounts: call 1-800-843-5466 (8am-6pm ET, Monday-Friday) to initiate the estate claim
- Accounts held through a financial advisor via BNY Pershing: contact the advisor directly; they coordinate the claim with Pershing
- TOD/beneficiary accounts: provide death certificate and beneficiary identification; complete the Beneficiary Distribution Request form; funds transfer directly to named beneficiaries
- Trust accounts: provide trust documentation, successor trustee ID, and instructions; BNY Wealth estate settlement specialists assist with asset distribution, tax preparation, and liquidity management
- IRA accounts: complete the IRA Beneficiary Distribution Request form; if transferring to an inherited IRA, complete the inherited IRA application
- Accounts without a beneficiary designation: obtain probate documents (Letters Testamentary or Letters of Administration) or a valid small estate affidavit per state law
Required Documents
- Certified copy of the death certificate
- Valid government-issued photo ID for the beneficiary, executor, or successor trustee
- Decedent's account number(s) and Social Security number
- For TOD/beneficiary accounts: completed Beneficiary Distribution Request form (mbs-beneficiary-distribution-request.pdf)
- For trust accounts: Certification of Trust, successor trustee ID, and relevant trust pages
- For probate estates without beneficiary: Letters Testamentary or Letters of Administration from the court
- For probate estates without beneficiary: Estate Account Application (as directed by representative)
- For IRA accounts: IRA Beneficiary Distribution Request form (im-ira-beneficiary-distribution-request-form.pdf); Inherited IRA Successor Beneficiary Distribution Request form (im-inherited-ira-successor-beneficiary-distribution-req-form.pdf) if transferring to inherited IRA
- Affidavit of Domicile (im-aff-of-domicile-form.pdf, may be required for certain estate distributions)
What to know at this institution
BNY Wealth maintains a dedicated estate settlement team (fiduciary specialists and wealth strategists) to guide beneficiaries and executors through the settlement process. Per the BNY Wealth trusts-and-estates page, services include distribution, tax preparation, investment and liquidity management, custody, and valuation. BNY Wealth positions itself as "our nation's first professional trustee" with over 200 years of estate planning and trust administration experience. To notify BNY Wealth of a death, call 1-800-610-8229; the estate settlement specialists request the required documentation checklist based on how the account is titled (individual, TOD, trust, or estate). For accounts custodied through BNY Pershing (held via a registered financial advisor), the advisor initiates and manages the estate claim process on behalf of the beneficiaries. BNY will adjust the cost basis of inherited account assets by a 100% step up to the fair market value at the date of death unless a different percentage is provided.
Prepare your letter of instruction to BNY Mellon
BNY Mellon asks for a letter of instruction alongside its claim form. We prepare a transmittal cover letter and the enclosure checklist BNY Mellon requires.
Build your letter of instructionExpected timelines at BNY Mellon: Processing time varies based on account type and documentation completeness. BNY Wealth estate settlement specialists actively manage the transition. Contact the appropriate division for a specific timeline estimate. Delays are almost always caused by incomplete paperwork—gathering all required documents before filing the initial claim helps avoid back-and-forth.
BNY Mellon requires several documents to process a claim, including Certified copy of the death certificate, Valid government-issued photo ID for the beneficiary, executor, or successor trustee, and Decedent's account number(s) and Social Security number, and additional documentation depending on the account type. Certified copies are typically needed—photocopies are generally not accepted for death certificates or court documents.
Frequently asked questions
BNY Pershing is a leading provider of clearing, custody, and advisory solutions used by thousands of registered investment advisors, broker-dealers, and financial professionals. If your accounts are held through a financial advisor, Pershing likely serves as the custodian. In that case, estate claims and beneficiary updates are managed through your financial advisor, who coordinates directly with Pershing on your behalf. Contact your advisor to initiate the process; they will guide you through the required documentation.
A TOD designation allows you to name beneficiaries on non-retirement brokerage and mutual fund accounts. At death, assets transfer directly to named beneficiaries without going through probate. TOD registration is not available for Louisiana residents. For joint accounts, assets transfer to beneficiaries only after the last surviving owner dies. You can set up TOD through the Individual Transfer on Death Account Agreement (brokerage) or the Beneficiary Designation Form (mutual funds).
If no beneficiary or TOD designation is on file at the time of death, the account balance is paid to the deceased account holder's estate. This means the assets will likely go through probate, which can add time and expense to the distribution process. It is important to keep beneficiary designations current and on file for all BNY accounts.
BNY Mellon's BNY Wealth Estate Settlement / BNY Investments Client Services can be reached by phone at 1-800-610-8229 for questions throughout the claims process.
When the deceased had multiple BNY Mellon accounts, some may need separate claims while others can be handled together. The BNY Wealth Estate Settlement / BNY Investments Client Services can clarify what's needed for each account type.
Sources
Data sourced from BNY Mellon primary sources (20 pages reviewed). How we research.
BNY Wealth / BNY Investments Client Services
240 Greenwich Street, New York, NY 10286
BNY Wealth Estate Settlement / BNY Investments Client Services
BNY Shareholder Services, P.O. Box 534434, Pittsburgh, PA 15253-4434; BNY Brokerage Services, 144 Glenn Curtiss Blvd, 9th Floor, Uniondale, NY 11556
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