Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0
This doesn't make any sense. I could see requiring the death certificate to establish the inherited IRA, but what earthly need would the custodian have for it when the beneficiary wants to make a withdrawal? Sounds like just another financial "service provider" who forgot whose money it is.

Rule Your Retirement Home Fool

There are some crazy requirements occurring on the brokerage side.

I opened an educational IRA in October 2012 at a brokerage (I have had a taxable account with
the same brokerage for 12 years, plus I opened another educational IRA account for another family
member there going on three years now). I had to enter my SS# when I established this new educational IRA.
About a month later the brokerage contacted me and indicated I need to provide my SS# and other data.
I responded via email that I have an existing account with the brokerage and they should use
data from that account as validation. Quiet for about three weeks. Then, this week I received a
more strongly worded email- "provide SS# and other data or lift security freeze on a credit
bureau for us to validate, otherwise ..." I called them up, talked to a live person and they indicated
it was a new requirement. I have never had to validate data about myself when I have
previously opened accounts, IRA or otherwise.
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.