What is the name of your state (only U.S. law)? Pennsylvania
My mother passed away almost two years ago. I am the sole named beneficiary on her accounts. I have been attempting to rollover one account (an ira with a large national bank) into a decedant ira for about a year and a half without success. The events are summarized below:
1. Bank is informed that my mother has passed
2. I am informed I am the sole named beneficiary
3. I provide death certificate, letters of administration (on the off chance they were needed) and request for rollover instructions all in person at the branch the account was opened at.
4. Time passes... Bank is contacted, required forms are requested, and submitted
5. More time passes.. Bank is contacted, I am told to resubmit forms to push it through, forms are resubmitted.
6. More time passes... Bank is contacted again, I am told there is no beneficiary on the account. After some angry words describing proof that they have already notified me that I am, they "find" that there is a beneficiary listed, and that it is me. I am told that the account rep no longer works with them and that I need an account rep in my state to set up a decedant IRA with their bank.
7. Regional manager of the bank is contacted, I am promised a call from an account rep in my area
8. more time passes.. Bank is contacted again, I am told that there is no account rep assigned to the account and that i need to make an appointment to have one contact me. I set up the appointment.
9. Still no contact
What can I do? Can I sue them to get the money? Damages? Any help would be appreciated, I have had no control over these assets and been at their mercy for approximately a year and a half.. I'm a little irked to say the least.