In the unfortunate event of a loved one's death, notifying the appropriate parties is a necessary responsibility. If the deceased had pension investments with Fidelity Investments, this organization should be among those notified. This step is crucial to stop payments, transfer investments, or adjust the account according to the will or estate plan.
Who Should Be Notified
Fidelity Investments is a multinational financial services corporation that provides a broad range of investment management services, including pension plans. If your loved one was a client of Fidelity, it is essential to notify the company to handle any ongoing investments, payments, or benefits associated with their account.
When to Notify
Notification should be done as soon as possible after the death of a loved one. This will help prevent any potential issues with payments or investments.
How to Notify
To report a death to Fidelity Investments, you can call their toll-free number at 1-800-343-3548. You can also notify them by mail or visit a local Investor Center. When notifying Fidelity, you will need to provide a certified copy of the death certificate.
What to Expect After Notification
Once Fidelity has been notified, they will guide you through the process of handling the deceased's account. This may include transferring accounts to named beneficiaries, liquidating assets, or making changes according to the deceased's will or estate plan. They will also provide information on any potential tax implications.
Tips for Notification
Keep a record of all correspondence with Fidelity, including dates and times of phone calls and the names of any representatives you speak with. This information can be helpful if there are any discrepancies or issues later on. Also, remember to ask about any potential financial implications such as taxes or fees associated with the account.
While it may seem daunting, notifying Fidelity Investments of a loved one's passing is a critical task. Managing pension investments and other financial matters efficiently can ensure a smooth transition during a challenging time. With a clear understanding of the process, you can navigate this responsibility effectively.
Q: Can I notify Fidelity of a death online?
A: Currently, Fidelity does not offer an online notification process for death. You must call, write, or visit them in person.
Q: What if I can't find my loved one's account number?
A: Fidelity can usually locate the account using the deceased's full name and date of birth. However, having the account number can speed up the process.
Q: What happens if there are no named beneficiaries on the account?
A: If there are no named beneficiaries, the account will typically be handled according to the deceased's will or estate plan. If no instructions are provided, state law will usually determine how the assets are distributed.