What to do when a T. Rowe Price account holder dies

Completed by each beneficiary, with a separate form for each IRA type. Available to download.¹

Completed by each inheriting beneficiary, or all executors when the assets move into an estate account. Available to download.^{2, 3}

Completed by each inheriting beneficiary, or the executors for an estate account. Available to download.⁴

Completed by each inheriting beneficiary, or the executors for an estate account. Available to download.⁵

Available to download.⁶

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

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

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

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

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

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

Inherited SEP-IRA, SIMPLE IRA, 403(b), Individual 401(k), Money Purchase, or Profit Sharing Plan accounts⁷

T. Rowe Price 529 accounts, with the Transfer Due to Death of Account Owner Form⁶

Options for managing the new account after the transfer of ownership is complete⁷

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

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

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}

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