At a glance
- Existing account
- Not retitled. A new trust account is opened and holdings move in kind.
- Main forms
- Trust account application (Form AACPT) and Change of Ownership Between Vanguard Nonretirement Accounts (Form NRCOO), both in the trust kit.
- Trust documents
- Relevant trust pages, or a notarized certification of trust signed by all trustees.
- Timing
- About 5 business days to open the account. Internal transfers typically 1 to 3 business days.
- Retirement accounts
- Not moved. A trust is named on the IRA beneficiary form.
Before filling in any form, settle the facts every institution asks for: see what to gather first.
Why Vanguard opens a new account
Vanguard says that, to protect account security, it does not allow owners on an account to be changed directly. Instead, a new account is opened with the trust as owner and the assets are transferred in kind. So the trust account always has a new account number.
In kind means the same shares move, rather than being sold and repurchased. That keeps the holdings and their cost basis intact. Vanguard's form does not treat the move as a gift when the two accounts share an owner.
Which forms to use
Both forms are in Vanguard's brokerage application kit for trusts.
- Vanguard Brokerage Account Application for Trusts (Form AACPT) opens the trust account. Existing Vanguard clients can also open a trust account online after logging in.
- Change of Ownership Between Vanguard Nonretirement Accounts (Form NRCOO) moves the holdings from the existing individual or joint account into the trust account. Vanguard asks that it be submitted with the application.
On the change of ownership form, the owner chooses to move all holdings or listed holdings. Fractional shares under one share may be sold on the processing day, and open orders on the holdings that move are cancelled.
What Vanguard accepts as proof of the trust
For a trust under agreement, Vanguard accepts copies of the pages that show the name of the trust and the date it was created, the current trustees and the line of trustee succession, and the signatures of the people required to sign it. Vanguard asks for the relevant pages only, usually the first and last, not the entire trust.
Without those pages, all trustees sign the certification of trust in the application, and every trustee signature must be notarized.
Notarization
The change of ownership form requires a notarized signature if the owners on the receiving account differ from the owners on the originating account. Vanguard does not say whether a move from the owner's own name into the owner's own revocable trust counts as different owners. Confirm with Vanguard before the client signs, or have the signature notarized.
The internal change of ownership does not call for a medallion signature guarantee. Elsewhere in the kit, Vanguard notes that a notary public cannot provide a signature guarantee.
How long it takes
Vanguard says a trust account takes 5 business days to review, process and open once the completed application arrives. Internal transfers typically take 1 to 3 business days. Fidelity and Schwab publish no comparable times for their conversions.
Later trustee changes
Adding or removing a living trustee on an existing Vanguard trust account uses Vanguard's Trustee Certification Form, completed and signed online.
IRAs and other retirement accounts
The change of ownership form is not used to move retirement assets. Vanguard's IRA Beneficiary Designation Form (R350FLG) lets the owner name a trust already created, by its name and date.
IRAs, 401(k)s and other retirement accounts are not retitled to a trust. They are owned by one individual, and changing the owner can be treated as a distribution. Where a trust is meant to receive a retirement account, it is named on the institution's beneficiary form instead. Naming a trust has significant tax consequences, so the estate attorney and tax advisor should confirm the designation before it is submitted. See naming a trust as IRA beneficiary.
Accounts held through an advisor
Vanguard does not run a custody platform for independent advisors the way the largest advisor custodians do. Advisors can be given agent authority on a client's Vanguard account, and the client's forms above still apply. Vanguard funds held in an account at another custodian follow that custodian's rules, not these.
Common questions
Can I change my Vanguard account to a trust?
Not directly. Vanguard does not change the owners on an existing account. A new trust account is opened and the holdings are moved into it in kind on Vanguard's change of ownership form.
Does the account number change?
Yes. The trust account is a new account with its own number.
How long does Vanguard take to open a trust account?
Vanguard says 5 business days to review, process and open the account once it has the completed application. Internal transfers typically take 1 to 3 business days.
Does Vanguard need the full trust document?
No. Vanguard asks for the relevant pages only, usually the first and last. Without them, all trustees sign a notarized certification of trust.
Forms and sources
Every fact on this page comes from Vanguard’s own published forms and pages, linked below. Form numbers are shown without revision codes, which change about once a year. Use the current version from Vanguard.
Bancroft is not affiliated with or endorsed by Vanguard. The name is used only to identify the institution. Requirements change; confirm with Vanguard before submitting forms. This page is general information about each institution’s published process, not legal or tax advice about any household’s accounts.