I have been trying to get a 1099R from Wells Fargo for my deceased Fathers IRA. The problem started when we went to our local branch in White Oak Mall to request a name change and transfer of ownership for a CD and IRA from my Dads name to my Mom. The initial vist they needed a copy of the Death Certificate and had my Mother complete a transfer of ownership forms. The forms were faxed to the IRA department 10/24.
I called the IRA department a 3 weeks later and was told I needed to fax another Death Certificate. I did not get a confirmation and decided to go back to the local branch on 12/05. The banker searched the information and placed a call to the IRA department. They told hem they needed yet another copy of my Dad's death certificate. He assured me this would take care of the transfer and he would get back to me in a couple of days.
I waited unilt the following week and called the banker to request my update and I told him if the issue was not resolved by Jan 1, I would file a complaint with the BBB. He called me to tell me the paper work was complete and my mother would be getting her copy soon. She did get it the second week in Jan. They still had not changed the CD to my mothers name so I called him yet again and reminded him they were supposed to have done this October 24. The name was changed the following day.
The problem now is trying to get them to issue a 1099R for my fathers IRA. They are required by the IRS as custodians of the account to determine and distribute funds based on the account holders age and the account balance. It has been a night mare that will not end. They tell me now Wachovia may send documents as late as May and the ifo Wells Fargo has may not be correct. How does the IRS let this happen? I will eventually file with the BBB but I knew RIP OFF REPORT was instantaneous. Thanks for all you do!
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