Where can I add more info about my beneficiaries?
Summary:
- The user is concerned about how Fidelity would identify a foreign beneficiary designated on their brokerage account in the event of their death.
- Fidelity confirms that non-US residents can be beneficiaries and explains the process for claiming assets after the account holder’s death.
- Beneficiaries or executors must notify Fidelity of the account holder’s passing, which can be done online or by phone, along with submitting a death certificate.
- Fidelity’s Transition Services team will assist with opening the necessary accounts and transferring assets, regardless of the beneficiary’s location.
- A helpful guide and checklist for legal and financial steps after a death is available on Fidelity’s website.
Here’s the full thread
Hi. I have designated as beneficiary of my account a person who lives in a foreign country. However, the only information I can add about my beneficiary is their name and DOB, as well as the relationship with me. I was wondering how Fidelity would proceed in case I die to identify the person I have designated as beneficiary. Thanks!
Thanks for reaching out to us this morning, @MLG. We’ll gladly offer some insight here.
In order to do so, we’ll need some clarification. Can you let us know the particular Fidelity account this is associated with? For instance, this could be an account associated with an employer, or a personal account like an IRA or a Brokerage.
It’s a brokerage account. Thanks, @FidelityAidan
Fidelity allows non-US residents and citizens to be listed as beneficiaries. If a Fidelity account holder passes away, their executor or beneficiary will need to notify us of their passing. This notification can be done either online or over the phone. In addition, a death certificate will need to be submitted. Our Transition Services team will assist with opening the appropriate accounts and transferring assets to your beneficiaries. The process for beneficiaries to claim assets remains the same whether a beneficiary resides overseas or in the US. A copy of a will is not required.
We have a helpful guide on our website that provides some legal and financial steps to take after a death:
Checklist: Legal and financial steps after a death: https://www.fidelity.com/learning-center/life-events/checklist-after-death
Notifications may also be submitted online here: https://www.fidelity.com/learning-center/life-events/loss-of-loved-one
If there is anything we can clarify or if additional questions pop up, please don’t hesitate to ask! We’re always happy to help. 🟢
Thank you!
You’re welcome! 🟢