What to do when an Invesco account holder dies
Report the death to Invesco Client Services at 1-800-959-4246
When an account holder at Invesco 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 Invesco Client Services (1-800-959-4246) to access and distribute the funds.
Death claim process
Here is the step-by-step death claim process at Invesco:
Filing a claim
- IRA: IRA-FRM-29
- 403(b)(7): 403B-FRM-29
- Solo 401(k): SOLO-FRM-12
- Non-retirement account: AIM-FRM-52
- On AIM-FRM-52, the requestor capacities include Executor(trix) and Successor Trustee
- To open an Invesco estate account: AIM-FRM-6
- Another account request: AIM-FRM-54
- On AIM-FRM-54, a signer who is not the registered owner states the capacity in which they are authorized to sign
- A guarantee comes from a bank, broker-dealer, savings and loan association, credit union, national securities exchange or other eligible guarantor institution
- A signature guarantee may not be obtained through a notary public, and an endorsement guarantee is not acceptable
- A notarized signature may be accepted instead of a Medallion or signature guarantee, if eligible. Call Client Services for the eligibility requirements
Required Documents
- Medallion signature guaranteeGenerally required for a distribution or transfer from a deceased account owner's IRA. A signature guarantee may not be obtained through a notary public.
- Death certificate or certified letters testamentary, if you send a signature guarantee instead of a Medallion signature guaranteeA photocopy of the account owner's death certificate, or a certified copy of letters testamentary showing the account owner's date of death.
- Certified copy of the affidavit of small estate, if you are an heir or devisee claiming under a small estate administration, without a Medallion signature guaranteeIn states where applicable.
- Death certificate showing the owner was unmarried, or a marital-status letter, if no beneficiary is named and the owner was unmarried at death, without a Medallion signature guaranteeThe assets go to the estate. Invesco can accept instead a Medallion-guaranteed letter stating the owner's marital status at death and that no one else has a claim.
- Employer or Third Party Administrator authorization, for a 403(b)(7) accountIn section 15 of the form, or a letter of authorization from the employer or TPA. The request may be denied without it.
- Medallion-guaranteed signature of the plan administrator or trustee, for a Solo 401(k)The Employer/Plan Administrator/Trustee or Successor Plan Administrator/Trustee signs section 11. The form says "A signature of the executor or surviving spouse of owner has authority" under the plan's trust agreement.
- Plan Adoption Agreement or Plan Amendment naming the plan administrator, for a Solo 401(k), if a Medallion signature guarantee cannot be obtainedA copy identifying the plan administrator or successor plan administrator, with a photocopy of the participant's death certificate.
- State inheritance tax waiver, if applicable
- Copy of the divorce decree, if you are a former spouse of the deceased account ownerNot needed if a Medallion signature guarantee is provided. A former spouse must have been named as a beneficiary by the owner after the date of divorce.
- Death certificate of a named beneficiary who died before the ownerA copy, unless a Medallion signature guarantee is provided.
- Letter of acceptance from the receiving custodian, if the assets are moving to a beneficiary IRA at another custodianIt should say the assets go into a beneficiary IRA in the name of the same decedent for the benefit of the beneficiary.
- Completed account application, if the assets are moving into a new Invesco account
- Beneficial Ownership Information Form, if an entity beneficiary named in section 2B has a beneficial owner holding 25% or more
- Letters Testamentary, to open an Invesco estate accountA copy, with the Trust or Estate Account Application.
Forms Invesco issues6
- IRA Beneficiary Transfer/Distribution Form (IRA-FRM-29)
Completed by each beneficiary of an IRA. Available to download.1
- 403(b)(7) Beneficiary Transfer/Distribution Form (403B-FRM-29)
Completed by each beneficiary of a 403(b)(7) account. Available to download.2
- Solo 401(k) Beneficiary Transfer/Distribution Form (SOLO-FRM-12)
Completed by each beneficiary of a Solo 401(k). Available to download.3
- Change of Ownership Form with Signature Guarantee (AIM-FRM-52)
Completed by the requestor, such as the executor or successor trustee. Available to download.4
- Trust or Estate Account Application (AIM-FRM-6)
Completed by the executor. Available to download.5
- Letter of Instruction with Signature Guarantee (AIM-FRM-54)
Completed by the person authorized to sign, stating the capacity in which they sign. Available to download.6
What happens to each kind of account2
- IRA
If no beneficiary designation is in effect at death, it cannot be ascertained, or every named beneficiary died before the owner, the beneficiary is the surviving spouse. If the owner was unmarried at death, the beneficiary is the estate.7
Where a trust or a class of people is named as beneficiary, the custodian does not administer the trust or determine the class members. It takes instructions and certifications from the executor or administrator of the owner's estate.7
- 529 plan
A CollegeBound 529 account owner may name a Successor Account Owner, including a trust, to take control of the account at the owner's death. A person named must be at least 18.8
Accounts handled elsewhere1
- CollegeBound 529
CollegeBound 529 accounts, including a change of Account Owner8
Phone: 1-877-615-4116
Hours: Monday-Friday 8:00 AM-8:00 PM ET
Mailing address: CollegeBound 529, P.O. Box 55987, Boston, MA 02205-9722
What Invesco's agreement and guidance say2
- How proceeds are paid
A distribution is mailed by check to the beneficiary's address unless another delivery is chosen, or sent by wire or ACH to a bank account; allow 2-3 business days for ACH. Non-bank accounts such as Cash App, Venmo and prepaid debit cards are not accepted.1
- What it says about taxes
For inherited non-retirement shares, the Change of Ownership form asks for the date of death, or an alternate valuation date or value, so Invesco can provide cost basis for the shares.4
Not in Invesco's published guidance2
- How long a claim takes
- An online way to report a death
Sources8
- 1.IRA Beneficiary Transfer/Distribution Form, IRA-FRM-29 05/26
- 2.403(b)(7) Beneficiary Transfer/Distribution Form, 403B-FRM-29 04/26
- 3.Solo 401(k)® Beneficiary Transfer/Distribution Form, SOLO-FRM-12 04/26
- 4.Change of Ownership Form with Signature Guarantee, AIM-FRM-52 04/26
- 5.Trust or Estate Account Application, AIM-FRM-6 04/26
- 6.Letter of Instruction with Signature Guarantee, AIM-FRM-54 11/24
- 7.Invesco Traditional IRA Custodial Agreement and Disclosure Statement, IRA-LGL-6 05/22
- 8.CollegeBound 529 Account Information Change Form, ES_RIA_AIC_100424
Invesco Client Services can be reached by phone at 1-800-959-4246 for questions throughout the claims process.
Sources
Data sourced from Invesco primary sources (16 pages reviewed). How we research.
Invesco death claims support
Invesco Client Services
Phone
Outside the United States
CollegeBound 529 (separate platform)
Hours
Mailing address
Website
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