What to do when a Fundrise account holder dies
Report the death to Fundrise's Investor Relations at 1-202-584-0550
When an account holder at Fundrise passes away, the next step depends on how the investment accounts were set up. Accounts with beneficiary designations or trust ownership transfer outside of probate. Accounts titled solely in the deceased's name require the estate's legal representative to work with Fundrise's Investor Relations (1-202-584-0550) to access and distribute the funds.
Death claim process
To file a claim after an account holder's death, here is what Fundrise requires:
Filing a claim
Required Documents
- Certified copy of the death certificateThe eREIT offering circulars require one with any written redemption request made on account of a death.
- Government-issued photo ID for the claimant, including a named beneficiary, with the beneficiary's claim documentation
- Letters Testamentary or Letters of Administration, when no beneficiary was named
- Trust certification or trust agreement identifying the trustee, when a revocable grantor trust holds the shares
- Confirmation of the surviving owner, for a joint account with rights of survivorship
- Written redemption request identifying the requesting party, for an eREIT redemption on account of the deathSubmitted within 12 months of the death.
- Completed claim or transfer paperworkAs provided by Fundrise or Computershare.
- Medallion signature guarantee, to change the registration on shares: into a trust account, a surviving owner's account, or out to a beneficiaryThe change is a transfer-agent transaction at Computershare and typically takes weeks.
Claims Contact
Website: Online portal →
What happens to each kind of account4
- Investment account
Fundrise platform holdings are non-traded private securities, so there is no market to sell into. Settlement follows each fund's own redemption or repurchase calendar.1
Innovation Fund (VCX) shares are listed on the NYSE and held at Computershare rather than on the Fundrise platform, so the claim is handled as a transfer-agent account and is not on the funds' redemption schedule.1
- Joint account with survivorship
The surviving owner's ownership continues without probate.1
- Trust account
For shares held through a revocable grantor trust, the trustee has the sole ability to request redemption. Where the shareholder is an irrevocable trust, a partnership, a corporation or a similar entity, the right of redemption on death does not apply.2, 3
- IRA
Fundrise liquidates the IRA shareholdings to Inspira Financial, the custodian, which then settles directly with the designated beneficiary.1
Accounts handled elsewhere2
- Inspira Financial
Fundrise IRAs, as custodian1
Phone: 1-800-618-6177
Hours: Monday-Friday 8:00 AM-5:00 PM CT
- Computershare
Innovation Fund (VCX) shares, and changes to the registration on Fundrise shares1
What Fundrise's agreement and guidance say1
- How proceeds are paid
The eREITs treat a redemption on the death of a natural-person shareholder as an "exceptional redemption": priced at 100% of NAV with no early-redemption penalty, where shares held under five years would otherwise take a roughly 1% penalty. Fundrise reserves the right to redeem these outside the quarterly process.2, 3
The request may come from the estate, an heir by bequest or inheritance, or the trustee of a revocable grantor trust, with a certified death certificate, and must reach Fundrise within 12 months of the death. Where spouses are joint registered holders, it may be made on the death of either.2, 3
eREIT shares are redeemed quarterly: requests are due by the last business day of the quarter, and funds are remitted within 21 days after the quarter ends.1
The Flagship Real Estate Fund and Income Real Estate Fund make quarterly repurchase offers of 5% to 25% of shares, with payment within seven calendar days after the repurchase pricing date.1
If a quarterly repurchase offer is oversubscribed, the fund may make a supplemental "Legacy Repurchase" offer for shares tendered by the descendants or estate of a deceased shareholder, prorated if that offer is itself oversubscribed. The adviser may request supporting information.4, 5
eREITs pay within 21 days after the quarter in which the request is accepted; the interval funds pay within seven calendar days after a repurchase pricing date.
Fundrise's Investor Relations can be reached by phone at 1-202-584-0550 and email at investments@fundrise.com for questions throughout the claims process.
Sources
Data sourced from Fundrise primary sources (16 pages reviewed). How we research.
Fundrise death claims support
Investor Relations
Phone
Inspira Financial (Fundrise IRA custodian)
Mailing address
Website
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