
What to do when a T. Rowe Price account holder dies
Report the death to T. Rowe Price's Life Events at 1-800-225-5132
When an account holder at T. Rowe Price 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 T. Rowe Price's Life Events (1-800-225-5132) to access and distribute the funds.
Death claim process
Follow these steps to file a death claim with T. Rowe Price:
Filing a claim
- Online through the death notification page.
- Or call 1-800-225-5132, or write to P.O. Box 17302, Baltimore, MD 21297-1302.
- Online, give the deceased person's name plus at least one other piece of information: address, date of birth, Social Security number, or account number.
- Add a digital copy of the death certificate, which may be provided later, and your own name and contact details.
- T. Rowe Price also asks to be notified of a joint owner's death so it can update the owner's profile.
- IRAs, including brokerage IRAs: the IRA Claim and Distribution for Beneficiaries form. Each beneficiary completes a separate form, and a separate form is needed for each IRA type.
- Taxable accounts with beneficiaries on file: a separate Ownership Change form, with a signature guarantee, and a separate New Account form from each inheriting beneficiary.
- One owner with no beneficiaries on file: the Ownership Change form, signed by all executors, moves the assets into an estate account. The New Account form for the estate gives the estate TIN.
- For that estate account, submit letters testamentary (or other appointment of the executor) or the applicable small estate affidavit.
- Assets moving into a trust that is a named beneficiary: submit the trust document pages that include the trust name, date, current trustees' names, and signatures.
- Small Business Retirement Plans (SEP-IRA, SIMPLE IRA, 403(b), Individual 401(k), Money Purchase, or Profit Sharing Plan): call 1-800-492-7670.
- T. Rowe Price 529: the Transfer Due to Death of Account Owner Form, with a death certificate. The line is 1-866-521-1894.
- Enter the deceased's name plus at least one additional piece of information, such as address, date of birth, Social Security number, or account number.
- Upload a digital copy of the death certificate, or provide it later.
- Provide your name and contact details so a Life Events Specialist can reach you.
- Maryland College Investment Plan, Alaska 529, and T. Rowe Price College Savings Plan accounts
- Small business retirement accounts (403(b)(7), Individual 401(k), SIMPLE, SEP, and SAR-SEP)
- Workplace Retirement Plans
- IRA: IRA Claim and Distribution for Beneficiaries.
- Taxable account: Ownership Change plus a New Account form, following the matching scenario in the Ownership Change Due to Life Events Information Guide.
- Death certificate for each deceased owner. The Inheritance and Account Management page asks for an original or certified copy; the guide and the IRA claim form ask for a copy.
- Letters testamentary (or other appointment of the executor) or the applicable small estate affidavit, where the scenario requires it.
- Inheritance tax waiver for each deceased owner, if required by state law.
- Medallion signature guarantee where the form or guide requires one.
Required Documents
- Death certificate, for each deceased ownerThe Inheritance and Account Management page asks for an original or certified copy and says photocopies are not acceptable. The Ownership Change guide and the IRA claim form ask for a copy.
- Letters testamentary or administration, or the applicable small estate affidavit, when an estate account is openedOr other appointment of the executor. Also needed when a cost basis other than fair market value is requested, for community property or tenants in common accounts, or when a surviving owner disclaims.
- Inheritance tax waiver, for each deceased owner, if required by state law
- IRA Claim and Distribution for Beneficiaries form, for IRAsOne per beneficiary and per IRA type.
- Ownership Change form plus a New Account form, for taxable accountsOne set per inheriting beneficiary.
- Medallion signature guarantee, from each inheriting beneficiary on the Ownership Change form, and on the IRA claim form when claiming as a non-spouse beneficiaryNotaries public are not accepted.
- Appointment of the executor, trustee, or person authorized to act, for an estate, trust, or entity beneficiary
- Trust document pages showing the trust name, date, current trustees' names, and signatures, when assets move into a trust that is a named beneficiary
- Death certificate with the Transfer Due to Death of Account Owner Form, for a T. Rowe Price 529 account
Claims Contact
Website: Online portal →
Forms T. Rowe Price issues5
- IRA Claim and Distribution for Beneficiaries
Completed by each beneficiary, with a separate form for each IRA type. Available to download.1
- Ownership Change
Completed by each inheriting beneficiary, or all executors when the assets move into an estate account. Available to download.2, 3
- Mutual Fund New Account form
Completed by each inheriting beneficiary, or the executors for an estate account. Available to download.4
- Brokerage New Account form
Completed by each inheriting beneficiary, or the executors for an estate account. Available to download.5
- Transfer Due to Death of Account Owner Form (T. Rowe Price 529)
Available to download.6
What happens to each kind of account6
- IRA
IRAs, including brokerage IRAs, are claimed on the IRA Claim and Distribution for Beneficiaries form. Each beneficiary completes a separate form, and a separate form is needed for each IRA type.1
- Investment account
On a taxable account with beneficiaries on file, each inheriting beneficiary completes a separate Ownership Change form, with a signature guarantee, and a separate New Account form.3
- Account in one name
With one owner and no beneficiaries on file, the Ownership Change form moves the assets into an estate account. All executors sign it, and the New Account form for the estate gives the estate TIN.3
- Trust account
When assets move into a trust that is a named beneficiary, T. Rowe Price asks for the trust document pages that include the trust name, date, current trustees' names, and signatures.7
- Employer retirement plan
Small business retirement accounts (403(b)(7), Individual 401(k), SIMPLE, SEP, and SAR-SEP) and Workplace Retirement Plans are excluded from the online death notification. They are reported by phone.8
- 529 plan
Maryland College Investment Plan, Alaska 529, and T. Rowe Price College Savings Plan accounts are excluded from the online death notification. They are reported by phone.8
A T. Rowe Price 529 account is transferred with the Transfer Due to Death of Account Owner Form and a death certificate.6
Accounts handled elsewhere3
- T. Rowe Price Small Business Retirement Plans
Inherited SEP-IRA, SIMPLE IRA, 403(b), Individual 401(k), Money Purchase, or Profit Sharing Plan accounts7
Phone: 1-800-492-7670
- T. Rowe Price 529
T. Rowe Price 529 accounts, with the Transfer Due to Death of Account Owner Form6
Phone: 1-866-521-1894
- T. Rowe Price Financial Consultants
Options for managing the new account after the transfer of ownership is complete7
Phone: 1-800-638-5660
Hours: Monday-Friday 8:00 AM-8:00 PM ET
What T. Rowe Price's agreement and guidance say4
- Telling the institution
Filing the notification does not make you an authorized party and does not entitle you to any ownership interest in the accounts. T. Rowe Price accepts instructions affecting an account only from an authorized party, such as an executor or beneficiary.8
- What it does when notified
If T. Rowe Price locates an account from the information given, the account is frozen and account services are suspended. If it cannot, nothing is suspended until it receives more identifying information.8
T. Rowe Price places a hold on the account until the proper documentation is submitted.3
- Wills, probate and small estates
T. Rowe Price's documents give different windows for how recently letters testamentary must be certified. The Inheritance and Account Management page says "certified by the court within 60 days." The Ownership Change Due to Life Events guide says within 6 months.7, 3
The Mutual Fund New Account and Brokerage New Account forms ask for an appointment of the executor certified within 120 days. The IRA claim form asks for appointment documents certified within six months of receipt by T. Rowe Price, and a corporate resolution within 60 days.4, 5, 1
- What it says about taxes
Beneficiaries receive fair market value basis for their portion of inherited assets unless the personal representative provides a different percent. T. Rowe Price equally divides tax lots unless the personal representative instructs otherwise.2
For an alternate valuation date, provide the date of death on the form and, on a separate page, the alternate valuation date and the value. If the ownership change is due to death, the personal representative signs the Ownership Change form to confirm the cost basis information.2
Sources8
- 1.IRA Claim and Distribution for Beneficiaries
- 2.Ownership Change form
- 3.Ownership Change Due to Life Events Information Guide
- 4.Mutual Fund New Account form
- 5.Brokerage New Account form
- 6.T. Rowe Price 529 Transfer Due to Death of Account Owner Form
- 7.Inheritance and Account Management
- 8.Death Notification
Frequently asked questions
The Beneficiaries — Transfer on Death form states that T. Rowe Price TOD accounts are governed by the Maryland Uniform Transfer on Death Security Registration Act. The form also states: TOD is only for accounts owned by one individual or by joint owners with rights of survivorship; you may not name yourself or your estate or include estate distribution provisions, and an owner or joint owner may not be listed as a beneficiary; beneficiaries may include individuals, corporations, trusts, or other legal entities and are paid on a per capita basis unless you indicate otherwise; the designation must be identical for all identically registered accounts; on the death of a joint owner it carries over to the surviving owner's account; and if no beneficiary survives, the account belongs to the estate of the most recently deceased owner.
T. Rowe Price documents give different windows. The Inheritance and Account Management page states letters testamentary must be certified by the court within 60 days and presented if an estate account is being established. The Ownership Change Due to Life Events guide states certified within 6 months. The Mutual Fund New Account and Brokerage New Account forms state the executor's appointment must be certified within 120 days. The IRA Claim and Distribution for Beneficiaries form states documents showing appointment should be certified within six months of receipt by T. Rowe Price. The applicable small estate affidavit is accepted in place of letters in the guide and the New Account forms. The Life Events line is 1-800-225-5132.
Anyone may file the online notification, with the decedent's name plus one more identifier such as an address or date of birth, and the death certificate can follow later. When T. Rowe Price locates an account, it freezes the account and suspends account services. The notification terms exclude Maryland College Investment Plan, Alaska 529, and T. Rowe Price College Savings Plan accounts, small business retirement accounts (403(b)(7), Individual 401(k), SIMPLE, SEP, and SAR-SEP), and Workplace Retirement Plans. For inherited small business retirement plan accounts the number is 1-800-492-7670, and T. Rowe Price 529 is 1-866-521-1894; its Transfer Due to Death of Account Owner Form moves the account to the successor owner. Filing the notification does not make you an authorized party: T. Rowe Price accepts instructions only from an authorized party, such as an executor or beneficiary.
T. Rowe Price's Life Events can be reached by phone at 1-800-225-5132 for questions throughout the claims process.
Sources
Data sourced from T. Rowe Price primary sources (32 pages reviewed). How we research.
T. Rowe Price death claims support
Life Events (Death Notification)
Phone
Toll-free
Inherited Small Business Retirement Plan accounts
Financial Consultants (after an inherited account transfer)
T. Rowe Price 529
Mailing address
Website
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