Get Change Of Ownership For Nonretirement Account Inherited Assets

Transferring ownership of inherited nonretirement assets can be a crucial and sensitive task. This guide provides clear, step-by-step instructions for completing the Change of Ownership form online, ensuring that you can manage this process smoothly and efficiently.

Follow the steps to complete the form accurately and efficiently.

1. Click the ‘Get Form’ button to access the form and open it in your editing tool.
2. In section 1, fill out the information regarding the deceased account owner. Provide the name, Social Security number, and date of death, and indicate your relationship to the decedent’s account.
3. Move to section 2 to indicate the transfer details. Specify if it's a full or partial balance transfer by listing the decedent’s current fund and account numbers under the appropriate section.
4. In section 3, update the address information, if necessary, for the decedent’s original accounts. Include both the U.S. residential street address and mailing address as applicable.
5. Proceed to section 4, where you will detail the cost basis for the inherited assets. Consult with a tax advisor to ensure correct reporting. Provide necessary percentages and note any specific instructions for adjusted basis.
6. In section 5, each relevant party must sign to complete the form. Ensure each signature has a Medallion Guarantee. Follow up with obtaining the guarantee from a qualified institution.
7. Before submitting, make sure all required sections are completed, signatures are guaranteed, and that any additional forms like the New Account Application are included for submission.
8. Finally, send the completed form via the specified mailing address, ensuring all documents are in order.

Begin the process now by completing the Change of Ownership form online for a smooth transition of inherited assets.