Individual Investor
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Inactivity on Your Account

About account inactivity

If you have not accessed your account in several years, state laws may deem your account to be inactive. Once an account is inactive, it is considered by your state to be abandoned property and must be turned over (escheated) to the state. In most states, an account is considered to be abandoned when there is no shareholder-initiated contact for three to five years.

What is escheatment?
Escheatment is the process of turning over unclaimed or abandoned property to a state authority. Escheatment laws require mutual fund companies to turn over client account fund shares if the owner cannot be located within a length of time determined by each state.

What do I need to do to initiate contact, and how can I prevent account inactivity from happening in the future?
To ensure your account remains active, please contact us in one of the following ways now and once per year moving forward:

  • Log in to your account on our website.
  • Cash checks that you receive from us.
  • Send us a letter through the U.S. Mail.
  • Call 1-800-233-6360 and speak with a representative after a security verification process. (Note: For New York, Oklahoma, Tennessee, and Vermont residents, telephone calls do not qualify as activity; however, the other options above do qualify.)

I have automatic transactions set up on my account. Aren’t those considered activity?
They are not. Shareholder-initiated contact includes:

  • The initial setup of an automatic investment plan
  • One-time purchases and redemptions made into/from your account
  • A letter sent to us through the U.S. Postal Service
  • A check from Wells Fargo Funds that is made payable to an account owner and cashed
  • A telephone conversation with a customer service representative that includes an initial automated security verification process (Note: For New York, Oklahoma, Tennessee, and Vermont residents, telephone calls do not qualify as activity; however, the other options above do qualify.)

I have multiple accounts. Do I need to make separate contact for each of my accounts?
No, it is not necessary to initiate contact for each account as long as they are all registered under the same Social Security number or tax ID number.

What do I need to do if my assets were sent to the state?
To begin the process of recovering assets that are no longer with Wells Fargo Funds, visit your state treasurer or controller office website.

Phone

Call 1-800-233-6360 and speak with a representative after a security verification process.

Did you know?

  • You can keep your account from becoming inactive by logging in to your account one time per year. 
  • Automatic transactions on an account do not qualify as activity, per state laws.

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