What to do when a RBC Wealth Management account holder dies
Report the death to RBC Wealth Management at 1-800-759-4029
When an account holder at RBC Wealth Management 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 RBC Wealth Management (1-800-759-4029) to access and distribute the funds.
To start, call RBC Wealth Management at 1-800-759-4029. Have the account holder's full name, account numbers, and the death certificate ready before you call.
Death claim process
Here is the step-by-step death claim process at RBC Wealth Management:
Filing a claim
- Find the advisor or branch with RBC's advisor search.
- If the advisor is unknown, call General Inquiries at 1-800-759-4029 (Monday-Friday, 8:30 a.m. - 6:00 p.m. ET).
Required Documents
- Written notice of the death, for joint accounts
- Inheritance or estate tax waivers and other papers, for joint accounts, when RBC requires them
- Appropriate proof of the owner's death, for IRAs
- A distribution request acceptable to the custodian, for IRA beneficiariesPlus any other documentation the custodian requires.
What happens to each kind of account3
- Account in one name
For an account in the deceased person's name alone, RBC's account types include estate accounts. Its Client Support FAQ lists the executor or administrator as the person who makes an estate account's paperless-delivery elections.1
- IRA
RBC Capital Markets, LLC is the IRA custodian. The balance goes to the beneficiaries on the designation filed with the custodian, or, with none, to the surviving spouse, then the estate.2, 3
After appropriate proof of death and once every beneficiary is identified, RBC establishes a separate custodial account for each beneficiary's share. No payment is made until the beneficiary submits a distribution request acceptable to the custodian.2, 3
- Trust account
Neither RBC Wealth Management nor its advisors can act as trustee, so a trust named on an account is administered by the trustee the trust document names.4
What RBC Wealth Management provides to the estate1
- Statement copies
For copies of statements for a closed account, contact the financial advisor if it was closed recently. If it has been purged from RBC's system, call the Branch Relations department at 833-547-2296.1
Help RBC Wealth Management offers survivors1
- Professional trust and estate settlement services
For professional trust and estate settlement services, RBC's advisory disclosure names City National Bank, RBC Trust Company (Delaware) Limited and TrustCorp America.4
What RBC Wealth Management's agreement and guidance say3
- Telling the institution
On a joint account, the surviving owners must give RBC written notice of the death.5
- What it does when notified
On a joint account, RBC may require papers and inheritance or estate tax waivers, and may retain part of the account or restrict transactions until they are provided.5
- Debts owed to the institution
On accounts with an RBC Express Credit line or margin, RBC may liquidate securities or close out credit accounts on the owner's death to satisfy the debt.5
Not in RBC Wealth Management's published guidance2
- A claim form
- A mailing address for claim documents
RBC Wealth Management can be reached by phone at 1-800-759-4029 for questions throughout the claims process.
Sources
Data sourced from RBC Wealth Management primary sources (26 pages reviewed). How we research.
RBC Wealth Management death claims support
Phone
Branch Relations (statements for closed accounts)
Hours
Website
Estate planning articles
Learn how to protect your RBC Wealth Management accounts and other assets with trusts, beneficiary designations, and estate planning documents.
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