What to do when an EQ Shareowner Services account holder dies
Report the death to EQ Shareowner Services at 1-800-468-9716
What happens to EQ Shareowner Services registered shareholdings 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 EQ Shareowner Services (1-800-468-9716) to claim the funds.
The claim process begins with a phone call to 1-800-468-9716. Have the account holder's full name, account numbers, and the death certificate available when making initial contact.
Death claim process
Follow these steps to file a death claim with EQ Shareowner Services:
Filing a claim
- Sections A and B: the account being transferred from, and how many Direct Registration, Plan, or certificate shares to transfer.
- Section C: select Inheritance and enter the date of death and the fair market value per share. For jointly held shares, enter the number of shares in which the decedent had an interest.
- Section F: the new registration (for example individual, joint tenancy, estate, trust, or TOD beneficiary), its address and its tax ID.
- A notary seal is not a substitute for a Medallion Signature Guarantee, and the stamp must not be dated or annotated.
- US shareholders can get a Medallion Signature Guarantee online at a discount through eSignatureGuarantee.com with promo code EQ, up to a $500,000 transaction value.
Required Documents
- Completed Stock Power FormSigned by the executor, administrator or personal representative of the estate in their capacity, with the signature guaranteed in the Medallion format.
- Inheritance Tax Waiver stamp or a notarized Affidavit of DomicileThe stamp goes in the signature section of the Stock Power Form, certifying no Inheritance Tax Waiver, and may be obtained from the institution giving the Medallion signature guarantee.
- Inheritance Tax Waiver, if required by the state in which the decedent was a resident
- Court certified copy of the Letters of Appointment, if the estate is being probated; EQ recommends presenting it to the medallion guarantorDated within 60 days (six months in New York and one year in Connecticut).
- Small Estate Affidavit, if the estate was not probatedPrepared under the small estate requirements of the state where the decedent was a resident.
- Certified copy of the death certificate, EQ recommends presenting it to the medallion guarantor
- Form W-9 or Form W-8BEN, for the new registration
- Original stock certificates, for certificate sharesLost certificates must be replaced before the shares are transferred, for a $75 processing fee.
- Check payable to EQ, with the Medallion Signature Guarantee Waiver, available to US residents for transfers of $10,000 or less$100.00 for a total transfer value under $5,000; $200.00 for $5,000 to $10,000.
- Copy of a valid government-issued photo ID with a signature, with the Medallion Signature Guarantee WaiverSuch as a driver's license or a passport.
- Copy of the death certificate, with the Medallion Signature Guarantee Waiver
- Certificate of Appointment or Small Estate Affidavit, with the Medallion Signature Guarantee WaiverA Certificate of Appointment dated within 90 days (6 months NY, 1 year CT), or the Small Estate Affidavit of the state in which the shareholder was domiciled.
Forms EQ Shareowner Services issues5
- Stock Power Form (Stock Power and Transfer Instructions)
Completed by the surviving tenant, beneficiary, or legal representative. Available to download.1
- Affidavit of Domicile
Available to download. Must be notarized.2
- Certificate of Fiduciary Authority
Completed by the acting trustees of a trust. Available to download.2
- Letter of Instruction
Available to download.2
- Sale Request After Transfer Form
Completed by the new owner. Available to download.1
What happens to each kind of account5
- Account in one name
EQ's transfer instructions say that on an individual registration the shares are subject to probate proceedings when the owner dies.3
- Joint account with survivorship
On a joint tenant or tenants by the entirety registration, the survivors are entitled to the shares, and the surviving tenant completes the Stock Power Form.3
- Joint account without survivorship
On a tenants in common registration, the decedent's ownership passes to the heirs of the decedent's estate and not to the surviving owners on the account.3
- Payable-on-death account
A TOD registration has one beneficiary, and on the owners' deaths the shares pass to that beneficiary. For cost basis, EQ says TOD accounts "are not handled by the probate process, but are considered part of the deceased shareowner's estate."3
- Trust account
To remove a deceased trustee, the successor trustees complete and sign the Stock Power Form in their capacity, with a Medallion Signature Guarantee. EQ recommends presenting a certified copy of the death certificate and a copy of the trust agreement to the guarantor.4
What EQ Shareowner Services's agreement and guidance say2
- What it says about taxes
The authorized estate representative chooses the fair market value on the date of death or an alternate valuation date. If no value is given at transfer, the shares are treated as non-covered, and the representative may mail the information later.3
EQ withholds taxes on dividends and cash distributions until the new owner's Substitute Form W-9 is received.3
- How proceeds are paid
Checking box 9 on the Stock Power Form has outstanding payments reissued in the current name on the account, and the outstanding payments are cancelled.3
Sources4
Typically within five business days once the transfer paperwork is received in good order, provided there are no restrictions on the account.
EQ Shareowner Services can be reached by phone at 1-800-468-9716 for questions throughout the claims process.
Sources
Data sourced from EQ Shareowner Services primary sources (9 pages reviewed). How we research.
EQ Shareowner Services death claims support
EQ Shareowner Services
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