My 79 year old father has attempted to close out my deceased mother's IRA since March 09, it is now Dec. 09. He has been in the branch 7 times to take care of this. He has been given paper work by someone at the branch to fill out and send in, TWICE, only to have it sent back to him informing him that he had the wrong paperwork. Not living in CA, it's difficult to help except to make phone calls on his behalf, which is what my husband and I did. I called a week ago and was told Mr. Romero would call me back, 4 hours later I still had not heard from him, and living on the east coast, I thought we should call again before it was too late. My husband called again and finally did speak to him and explained what was going on and that Dad was extremely frustrated and what could we do? An appointment was set up for the following week for Dad to come in, we were told what paperwork he needed to bring and that it wouldn't take much to get this handled. Dad showed up at the appointed time and found out that Mr. Romero had just gone to lunch... You can imagine how frustrated dad was then. So he left and came back an hour later to find Mr. Romero at his desk alone on his computer. He didn't even acknowledge Dad was there for quite some time. When Dad did finally sit down with Mr. Romero, he was told that the IRA had to go through probate, which it doesn't because Mom and Dad have a trust and Dad is the trustee. This was all explained to Mr. Romero when we spoke to him and he said it would be no problem to close out and roll the money into Dad's IRA at the same branch. So here he is, can't close out Mom's IRA after she has been gone over a year and now running into a new tax year that income will have to be reported under her tax id. Anyone know how this should work? It doesn't seem like it should be this complicated! I would have given it zero stars, but you have to put something.
Cons: nobody in this branch can help with IRA's