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Change of Ownership for Nonretirement Account Inherited Assets

Change of Ownership for Nonretirement Account Inherited Assets 2026

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This document is a form for transferring ownership of a Wells Fargo Advantage Funds account due to the death of the account owner. It outlines the necessary information required for the transfer, including details about the deceased, instructions for full or partial transfers, and cost basis considerations for inherited assets. Additionally, it provides guidance on obtaining Medallion Guarantees for signatures and includes contact information for assistance.

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Click ‘Get Form’ to open it in the editor.
Begin by filling out Section 1 with the deceased account owner's information, including their name, Social Security number, and date of death. Indicate your relationship to the decedent's account.
In Section 2, specify whether you are requesting a full or partial transfer of assets. List the fund numbers and account numbers accordingly.
Update the address for delivery of statements in Section 3 if necessary. Provide both residential and mailing addresses.
In Section 4, consult a tax advisor to determine the cost basis for inherited assets. Fill in the required details based on your situation.
Finally, complete Section 5 by obtaining Medallion Guarantees for all required signatures before submitting your form.

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Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What happens if you inherit a retirement account?

While most inheritances are tax-free, inherited traditional IRAs come with tax obligations for the beneficiary as distributions are made. Different rules apply based on the type of IRA (traditional vs. Roth) and beneficiary status (spouse vs. non-spouse), with spouses having more flexible distribution options.

What assets do not form part of an estate?

Jointly owned property If the deceased person owned property with another person or people as beneficial joint tenants, the deceased persons share automatically passes to the surviving joint owner(s). Property owned as joint tenants does not form part of a deceased persons estate on death.

Can you transfer ownership of a Fidelity account?

To change to an Individual, Joint, or Custodial account, complete the Change of Account Ownership Changing to an Individual, Joint, or Custodial Account form. For more about account types, go to Fidelity.com/chgacct.

Are transfer on death accounts part of an estate?

POD and TOD accounts do not pass through the probate estate. They are non-probate assets and are paid directly to the beneficiary or beneficiaries of the account.

What is the problem with tod accounts?

For one thing, unlike a trust, POD or TOD accounts wont provide the beneficiary with access to the assets in the event you become incapacitated. Also, because the assets bypass probate, they may create liquidity issues for your estate, which can lead to unequal treatment of your beneficiaries.

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What is the new rule on inherited IRAs?

Key takeaways. The SECURE Act changed rules for distributing assets from an inherited IRA for non-spouses. Many non-spouse beneficiaries who inherit IRA assets from account owners who passed away in 2020 or later will need to withdraw the full balance within 10 years.

Change of Ownership for Nonretirement Account Inherited Assets 2026

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