Fidelity POA on IRAs

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Topic Author
maineminder
Posts: 55
Joined: Sat Sep 24, 2011 9:48 am

Fidelity POA on IRAs

Post by maineminder » Sat Jan 12, 2019 3:32 pm

Searched the forum, found one thread that referenced this but it points to a link that's no longer available which probably has my answer based on the discussion in the thread.

I submitted POA forms that establishes me as attorney-in-fact for a parents Fidelity accounts. I saw the poa get processed for the cash management account, but not for the two (inherited and her) IRA's as of yet. May need to wait a bit more. Based on these statements on the form, it should be granted.

"Eligible personal investing accounts include individual and joint nonretirement accounts;
trust accounts; 529 plan accounts (excluding UTMA/UGMA 529); ABLE accounts that do not
have a PSA established; traditional, Roth, rollover, SEP, SIMPLE, and inherited IRAs; Fidelity
Retirement Plan (Keogh) accounts; and Health Savings Accounts (HSAs)."

Has anyone done this and have you been able to modify things like RMDs, transfer money out, etc. from your online account? I already have Full Authority so I can already sell/buy securities but I can't move money or modify the RMD online. Based on advice from a Fidelity rep, I got the forms all filled out and sent them in.

I'm going to call next week, but I was just surprised nothing changed after the POA was added for the cash management account. Figured I'd ask if anyone else has any experience with this.

Thanks for any insight.

RetiredAL
Posts: 400
Joined: Tue Jun 06, 2017 12:09 am
Location: SF Bay Area

Re: Fidelity POA on IRAs

Post by RetiredAL » Sat Jan 12, 2019 5:31 pm

My wife and I have cross-filed POA's for our IRA's at both Fidelity and Schwab. Off the top of my head, I think the POA Agent can do anything except change the Beneficiaries.

Topic Author
maineminder
Posts: 55
Joined: Sat Sep 24, 2011 9:48 am

Re: Fidelity POA on IRAs

Post by maineminder » Sat Jan 12, 2019 7:11 pm

RetiredAL wrote:
Sat Jan 12, 2019 5:31 pm
My wife and I have cross-filed POA's for our IRA's at both Fidelity and Schwab. Off the top of my head, I think the POA Agent can do anything except change the Beneficiaries.
Thanks RetiredAL. I guess not being able to change beneficiaries would make sense as that really should be the owners decision.

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