timill

tl;dr still waiting for things

The latest on that inherited IRA is that I got two email messages from Fidelity today, one saying that I needed to do something [unspecified] to transfer the money from BNY, and one saying specifically that BNY had told Fidelity that they, BNY, needed to talk to me.

So, I called BNY, and after various annoyances with their phone tree, talked to someone. He told me that they had no record yet of receiving the form I sent by next-day mail, but that if the form had arrived late Wednesday they might not be scanned until late today or even Monday. Also that once the form is scanned into the BNY system, it may take a few days before they actually transfer the money into my name, which would be necessary in order to move it to Fidelity.

So, I can (and probably will) call Monday to check that the form was in fact been received, but he thinks I should call later in the week, maybe Wednesday, maybe as late as Friday, and ask for my brand-new account number. Once I have that number, I have to fill out appropriate paperwork with Fidelity. *sigh*

I am both annoyed that even paying for next-day delivery, this is taking several days, and thinking that if I hadn’t paid for faster delivery I would be a few days further behind.

The man also said that once the funds are transferred, they will send me an acknowledgement by mail, including the new account number. However, waiting for that to arrive (rather than getting the information by phone) does not seem prudent, given the IRS deadline for the 2025 required minimum distribution.