What to do when a Wells Fargo account holder dies

Sent by the institution on request.¹

Completed by the beneficiary. Sent by the institution on request.¹

Available to download. Must be notarized.²

Available to download.²

An account with one owner must be closed and cannot be retitled. If no beneficiary is named, Wells Fargo also needs probate documentation, a small estate affidavit, or a court order.¹

Wells Fargo treats co-owners as joint tenants with right of survivorship unless state law requires otherwise or it agrees in writing. When one owner dies, the account is owned by and payable to the surviving co-owners.³

The joint account holder can visit a Wells Fargo branch with identification and a death certificate to have the deceased customer removed.⁴

A surviving joint owner closing the account does not need a certified copy of the death certificate. Retitling the account, or closing one with no surviving owner, needs a certified copy.¹

A payable-on-death account is paid to the surviving beneficiaries when Wells Fargo receives proof of the owner's death, or of the last surviving co-owner's. An account titled "in trust for," "transfer on death" or similar is treated as a POD account.³

When the last owner dies, Wells Fargo lists a certified copy of the death certificate, and the account must be closed.¹

When a trustee or all trustees on the account have died, Wells Fargo lists a certified copy of the death certificate and a Certification of Trustee form (Wells Fargo or third-party) naming a successor trustee, if applicable. The account can be closed or retitled.¹

Wells Fargo lists a certified copy of the death certificate and mails an IRA beneficiary claim form to the beneficiary to return to the bank. A spouse can close the account or retitle it in the spouse's name; another beneficiary can close it or retitle it in theirs.¹

Wells Fargo lists the death of a fixed rate CD's owner, of the grantor of a revocable family or living trust, and of the owner of a fixed rate IRA CD or education savings account CD among its "Exceptions to the early withdrawal penalty and the Regulation D penalty".³

If the adult custodian on a minor's account (or the last surviving custodian) dies before the minor reaches the age of majority, Wells Fargo may transfer the funds to a successor custodian under the applicable Uniform Transfers/Gifts to Minors Act.³

A surviving lessee can visit the branch with identification and the key; without the key there may be a drilling fee. If there is no surviving lessee, an estate representative can visit a branch, where a banker determines what is needed to grant access.¹

The joint account holder or personal representative can work directly with Credit Card Services to determine the next steps for any outstanding balance.⁴

The Estate Care Center handles closing and maintaining business accounts of a deceased business owner; a caller is transferred to an Estate Care Center business employee.¹

A business must give Wells Fargo documentation of any change in ownership or control of the business on the death of a business owner.³

To open an estate account, Wells Fargo lists a New Jersey affidavit of surviving spouse among the appointment papers it accepts.⁴

For WellsTrade accounts, a notarized Affidavit of Domicile or Transfer on Death distribution request must include a jurat if notarized in California.⁵

Estate processing for WellsTrade accounts⁵

Brokerage accounts with Wells Fargo Advisors⁴

Wells Fargo Private Bank accounts⁴

Wells Fargo asks to be notified promptly if you learn or suspect that an account owner or signer has died.³

On proper notice, Wells Fargo may freeze the account until it receives documents verifying the death and instructions for the remaining funds, pay any item the owner authorized before death, and return or reverse deposits.³

The Estate Care Center begins to process a request as soon as it receives the necessary documents and has validated that the representative is entitled to act on behalf of the deceased customer.¹

Wells Fargo may apply funds in the account to any debt the owner owes it before recognizing the rights of a surviving joint owner or other person to the remaining funds.³

Federal benefit payments received after the customer's death may need to be returned to the federal government before funds are released and deposit accounts closed. Wells Fargo calls this reclamation.¹

If Wells Fargo releases funds after the owner's death and then has to pay tax or reclamation claims to a government agency, the owner's estate must reimburse it.³

For consumer and sole proprietor accounts, Wells Fargo may follow court orders and take direction from affiants, court-appointed representatives, guardians or conservators from the owner's state of residence, even if the account was opened elsewhere. It may require more documentation first.³

For an account owned by an individual or sole proprietor, Wells Fargo must be given the estate's or successor's IRS Form W-9 or Form W-8. Without it, Wells Fargo may refuse to pay interest from the date of death or apply backup withholding.³

If the deceased customer used online banking or Bill Pay, the service is discontinued. The living customer may open a new online banking or Bill Pay profile.¹