Our deepest sympathies go out to you and your family. 

Navigating account matters after the loss of a loved one can be difficult, and requirements may vary depending on the circumstances. Please contact us by phone or chat so we can help you understand what information or documentation may be needed and guide you through the next steps. We can also assist with questions regarding beneficiaries, account balances, and date-of-death valuations. Our phone number and chat link are located to the left.

Please review the request types carefully. There are two sets of instructions for each type of request - one set that requires a signature guarantee and one set that requires a medallion signature guarantee. A summary of what a signature guarantee and a medallion signature guarantee are can be found following the instructions below.  

• A signature guaranteed Letter of Instruction form from the Personal Representative or Executor of the estate that confirms if the account(s) should be reregistered or liquidated to the estate or to the beneficiary of the estate.

• If reregistering, a completed and signed New Account Application for the new registration.

• If liquidating, a W-9 Form completed and signed by the recipient of the assets.

• The signature guarantee requirement is to protect against unauthorized requests by assuring the required signatures are genuine. A signature guarantee can be obtained at many commercial banks, credit unions, savings associations, or broker-dealers. A notary public is unable to provide an acceptable guarantee.

• If the deceased account owner was a resident of Alabama, Indiana, Montana, New York, Ohio, Oklahoma, Pennsylvania, Puerto Rico, or Tennessee, please contact the state's department of revenue to determine if an Inheritance Tax Waiver is required for this specific situation.

• If the account(s) will be reregistered to the beneficiary of the estate, the beneficiary may complete and sign a Beneficiary Designation Form if they wish to establish a beneficiary designation.

• A medallion signature guaranteed Reregistration and Redemption Options Form from the Personal Representative or Executor of the estate.

• If reregistering, a completed and signed New Account Application for the new registration.

• If liquidating to the beneficiary, a W-9 Form completed and signed by the beneficiary.

• A medallion signature guarantee is an assurance from the financial institution of the individual providing their signature, indicating that their signature is authentic and that they are authorized to act. By providing the guarantee, the financial institution is accepting financial liability for any forgery of the guaranteed signature. This acceptance of liability protects the individual providing their signature and our institution from financial losses by preventing unauthorized transactions.

• A medallion signature guarantee can be obtained at many commercial banks, credit unions, savings associations, or broker-dealers. The individual providing their signature should verify with their financial institution regarding the documentation required to obtain a medallion signature guarantee for this specific situation. The individual should also verify that their financial institution is able to insure a dollar amount that is equal to or greater than the value of the request. A notary public is unable to provide an acceptable guarantee.

• If the deceased account owner was a resident of Alabama, Indiana, Montana, New York, Ohio, Oklahoma, Pennsylvania, Puerto Rico, or Tennessee, please contact the state's department of revenue to determine if an Inheritance Tax Waiver is required for this specific situation.

• If the account(s) will be reregistered to the beneficiary of the estate, the beneficiary may complete and sign a Beneficiary Designation Form if they wish to establish a beneficiary designation.

1. If the original owner passed away on or before December 31, 2019, distributions over a five-year period; the account must be at a zero balance by December 31 of the year containing the fifth anniversary of the original owner's date of death.


2. If the original owner passed away on or before December 31, 2019, distributions can be taken over the non-spouse beneficiary's life expectancy, non-recalculated; distributions must begin by December 31 of the year following the original owner's date of death and annual distributions must be taken until the account is at a zero balance.


3. If the original owner passed away on or after January 1, 2020, distributions over a ten-year period; the account must be at a zero balance by December 31 of the year containing the tenth anniversary of the original owner's date of death.


4. Lump sum distribution.

• A signature guaranteed Letter of Instruction form, which contains the following information:
  
  
  • The distribution option
  
  
  • Instruction as to where to distribute the proceeds
  
  
  • Instruction as to when (month and date) to distribute the proceeds
  
  
  • A statement of withholding, indicating whether or not to withhold federal tax (state withholding may apply)

• If the account owner passed away after their required beginning date, instruction as to whether or not the final Required Minimum Distribution (RMD) should be paid before the account is registered into an Inherited IRA in the name of the beneficiary *Not applicable for Roth IRAs.

• A certified copy of the death certificate, if not previously provided.

• If option 1, 2, or 3 is selected, a completed and signed IRA Packet for the new registration.

• If option 4 is selected, a completed and signed W-9 Form.

• The signature guarantee requirement is to protect against unauthorized requests by assuring the required signatures are genuine. A signature guarantee can be obtained at many commercial banks, credit unions, savings associations, or broker-dealers. A notary public is unable to provide an acceptable guarantee.

• If the deceased account owner was a resident of Alabama, Indiana, Montana, New York, Ohio, Oklahoma, Pennsylvania, Puerto Rico, or Tennessee, please contact the state's department of revenue to determine if an Inheritance Tax Waiver is required for this specific situation.

• If the account(s) will be reregistered to the beneficiary of the estate, the beneficiary may complete and sign a Beneficiary Designation Form if they wish to establish a beneficiary designation.

1. If the original owner passed away on or before December 31, 2019, distributions over a five-year period; the account must be at a zero balance by December 31 of the year containing the fifth anniversary of the original owner's date of death.


2. If the original owner passed away on or before December 31, 2019, distributions can be taken over the non-spouse beneficiary's life expectancy, non-recalculated; distributions must begin by December 31 of the year following the original owner's date of death and annual distributions must be taken until the account is at a zero balance.


3. If the original owner passed away on or after January 1, 2020, distributions over a ten-year period; the account must be at a zero balance by December 31 of the year containing the tenth anniversary of the original owner's date of death.


4. Lump sum distribution.

• A medallion signature guaranteed Beneficiary Payout Form for IRA Assets.

• If option 1, 2, or 3 is selected, a completed and signed IRA Packet for the new registration.

• A medallion signature guarantee is an assurance from the financial institution of the individual providing their signature, indicating that their signature is authentic and that they are authorized to act. By providing the guarantee, the financial institution is accepting financial liability for any forgery of the guaranteed signature. This acceptance of liability protects the individual providing their signature and our institution from financial losses by preventing unauthorized transactions.

• A medallion signature guarantee can be obtained at many commercial banks, credit unions, savings associations, or broker-dealers. The individual providing their signature should verify with their financial institution regarding the documentation required to obtain a medallion signature guarantee for this specific situation. The individual should also verify that their financial institution is able to insure a dollar amount that is equal to or greater than the value of the request. A notary public is unable to provide an acceptable guarantee.

• If the deceased account owner was a resident of Alabama, Indiana, Montana, New York, Ohio, Oklahoma, Pennsylvania, Puerto Rico, or Tennessee, please contact the state's department of revenue to determine if an Inheritance Tax Waiver is required for this specific situation.

• If the account(s) will be reregistered to the beneficiary of the estate, the beneficiary may complete and sign a Beneficiary Designation Form if they wish to establish a beneficiary designation.

1. Treat the IRA as own by reregistering the IRA into an IRA in the name of the surviving spouse.


2. If the original owner passed away on or before December 31, 2019, distributions over a five-year period; the account must be at a zero balance by December 31 of the year containing the fifth anniversary of the original owner's date of death.


3. Distributions over the surviving spouse beneficiary's life expectancy, recalculated; distributions must begin by December 31 of the year following the original owner's date of death and annual distributions must be taken until the account is at a zero balance.


4. If the original owner passed away on or after January 1, 2020, distributions over a ten-year period; the account must be at a zero balance by December 31 of the year containing the tenth anniversary of the original owner's date of death.


5. Lump sum distribution.

• A signature guaranteed Letter of Instruction form, which contains the following information:
  
  
  • The distribution option
  
  
  • Instruction as to where to distribute the proceeds
  
  
  • Instruction as to when (month and date) to distribute the proceeds
  
  
  • A statement of withholding, indicating whether or not to withhold federal tax (state withholding may apply)

• If the account owner was over RMD age, instruction as to whether or not their final Requirement Minimum distribution (RMD) should be paid. *Not applicable for Roth IRAs.

• A certified copy of the death certificate, if not previously provided.

• If option 1, 2, or 3 is selected, a completed and signed IRA Packet for the new registration.

• If option 4 is selected, a completed and signed W-9 Form.

• The signature guarantee requirement is to protect against unauthorized requests by assuring the required signatures are genuine. A signature guarantee can be obtained at many commercial banks, credit unions, savings associations, or broker-dealers. A notary public is unable to provide an acceptable guarantee.

• If the deceased account owner was a resident of Alabama, Indiana, Montana, New York, Ohio, Oklahoma, Pennsylvania, Puerto Rico, or Tennessee, please contact the state's department of revenue to determine if an Inheritance Tax Waiver is required for this specific situation.

• If the account(s) will be reregistered to the beneficiary of the estate, the beneficiary may complete and sign a Beneficiary Designation Form if they wish to establish a beneficiary designation.

1. Treat the IRA as own by reregistering the IRA into an IRA in the name of the surviving spouse.


2. If the original owner passed away on or before December 31, 2019, distributions over a five-year period; the account must be at a zero balance by December 31 of the year containing the fifth anniversary of the original owner's date of death.


3. Distributions over the surviving spouse beneficiary's life expectancy, non-recalculated; distributions must begin by December 31 of the year following the original owner's date of death and annual distributions must be taken until the account is at a zero balance.


4. If the original owner passed away on or after January 1, 2020, distributions over a ten-year period; the account must be at a zero balance by December 31 of the year containing the tenth anniversary of the original owner's date of death.


5. Lump sum distribution.

• A medallion signature guaranteed Beneficiary Payout Form for IRA Assets.

• If option 1, 2, or 3 is selected, a completed and signed IRA Packet for the new registration; please review section 3 carefully as not all distribution options may be available.

• A medallion signature guarantee is an assurance from the financial institution of the individual providing their signature, indicating that their signature is authentic and that they are authorized to act. By providing the guarantee, the financial institution is accepting financial liability for any forgery of the guaranteed signature. This acceptance of liability protects the individual providing their signature and our institution from financial losses by preventing unauthorized transactions.

• A medallion signature guarantee can be obtained at many commercial banks, credit unions, savings associations, or broker-dealers. The individual providing their signature should verify with their financial institution regarding the documentation required to obtain a medallion signature guarantee for this specific situation. The individual should also verify that their financial institution is able to insure a dollar amount that is equal to or greater than the value of the request. A notary public is unable to provide an acceptable guarantee.

• If the deceased account owner was a resident of Alabama, Indiana, Montana, New York, Ohio, Oklahoma, Pennsylvania, Puerto Rico, or Tennessee, please contact the state's department of revenue to determine if an Inheritance Tax Waiver is required for this specific situation.

• If the account(s) will be reregistered to the beneficiary of the estate, the beneficiary may complete and sign a Beneficiary Designation Form if they wish to establish a beneficiary designation.

Medallion Signature Guarantee

A Medallion Signature Guarantee (MSG) is a special type of signature guarantee used for transactions involving securities. It is provided by an eligible financial institution that participates in an approved Medallion program, such as the Securities Transfer Agents Medallion Program (STAMP), which is recognized within the securities industry in the United States and Canada.

When a financial institution provides an MSG, it is confirming that:

• Your signature is genuine.
• You are authorized to sign and complete the transaction.
• You have the legal capacity to authorize the transfer.
• The value of the transaction is within the financial coverage, or surety limit, of the Medallion stamp.

The Medallion Signature Guarantee is electronically validated to confirm that the stamp is authentic, active, and in good standing.

Important: If your transaction requires a Medallion Signature Guarantee, a regular signature guarantee or notarized signature cannot be accepted as a substitute. The Medallion must also provide sufficient surety coverage for the value of the transaction when applicable.

Non-Medallion Signature Guarantee

A Non-Medallion Signature Guarantee may be provided by a financial institution that does not participate in an approved Medallion Program. Unlike a Medallion Signature Guarantee, it does not provide financial backing or a surety limit for the transaction. When permitted, the guarantee may be accepted with traditional documentation requirements. We may contact the financial institution that issued the guarantee to verify that the stamp is valid and that the individual providing the guarantee is authorized to do so.

If you are unsure whether a Medallion Signature Guarantee or Non-Medallion Signature Guarantee is required or have questions about the requirements for your transaction, please contact us before obtaining the guarantee. We can help explain what is needed based on your specific situation.

Before investing, consider the fund's investment objectives, risks, charges and expenses. Please call 800-304-7404 or visit the Mairs & Power website for a prospectus or, if available, summary prospectus, containing this information. Read it carefully.

Mairs & Power Funds and its representatives do not provide tax or legal advice. Each individual's tax and financial situation is unique. Individuals should consult their tax and/or legal advisor for advice and information concerning their particular situation.