We’re here for you at this time

If you’re a representative of the estate of a friend or family member who has passed away and they held a Macquarie account, please notify us by following the steps below.

Our team is here to guide you through the process of managing the account(s). We acknowledge this is a difficult time and your welfare is important. If you're in need of extra support, we have compiled a list of external support organisations you can contact.

How to notify us

Please email clientservicesupport@macquarie.com with the below details and we’ll be in touch with the next steps:

  • full name of the deceased
  • date of birth of the deceased
  • any known account number(s)
  • date of death
  • most recent address
  • your name, contact details and relationship to the deceased.
  • certified copy of Death certificate (if you don’t have this yet, please still notify us, and submit this when you can).

If you have all the above documents please see below additional information required to manage the estate, for account specific information we may need to finalise the account.
 

Do you have a solicitor or another representative?

If a solicitor or another representative is involved in assisting with finalising the estate, please have them email us with a letter of representation, stating that they’re acting on behalf of the estate. Please provide details of the deceased as listed above along with a certified copy of death certificate.

What information is required to access accounts?

To access specific account information, based on your relationship with them, please send us certified copies of the following documents.  For more information please review our certification requirements.

If you’re the executor, administrator or next of kin

Please provide the following

  • a certified copy of death certificate
  • a certified copy of will or Letters of Administration (Please note if the total investments held with Macquarie for individual accounts exceeds $100,000 we’ll require a certified copy of Grant of Probate in order to finalise the estate. There also may be other circumstances in which we may still ask you to obtain Probate)
  • a certified copy of identification for each executor or next of kin who will be acting on behalf of the estate
  • a completed Individual identification form for each executor or next of kin.

If you’re an adviser

Please provide the following

  • a certified copy of death certificate
  • a certified copy of will or Letters of Administration (Please note if the total investments held with Macquarie for individual accounts exceeds $100,000 we’ll require a certified copy of Grant of Probate in order to finalise the estate. There also may be other circumstances in which we may still ask you to obtain Probate)
  • a certified copy of identification for each executor AND
  • a completed Individual identification form for each executor OR
  • or a FSC Individual form completed for each executor.

If you’re a solicitor or public trustee

Please provide the following

  • a letter of authority/administration stating you act on behalf of the estate and,
  • a certified copy of death certificate.

Who can access the accounts of someone who has passed away?

Information can only be shared with:

  • joint/surviving account holder(s)
  • executors
  • next of kin
  • appointed administrators of the estate
  • a listed adviser
  • a solicitor acting on behalf of the estate, or
  • a public trustee acting on behalf of the estate.

How to provide information to us

The quickest way for you to provide these documents to us is via email. Please email copies of the requested certified documents to clientservicesupport@macquarie.com. If you have one, please quote the DEC reference number from any email correspondence. Alternatively, you can send them via post.

Deceased Estates
GPO Box 2520
Sydney, NSW, 2001

What happens after you notify us

  • Online access – internet and mobile banking will be cancelled.
  • For accounts solely in the name of the deceased – account withdrawals will cease. This includes card access and existing direct debits and recurring payments out of the account. Payments into the account will not be affected.
  • For term deposits solely in the name of the deceased – We’ll pay interest to the date of closure with fees and charges for any early withdrawal being waived.
  • For home loans solely in the name of the deceased – we’ll stop activity on the account. This means debits and automatic credits into the account will not be accepted and redraw will be frozen. Interest charges will continue. If you’re looking to make payments to a home loan not in your name, please seek financial advice prior to doing so.
  • Online trading we’ll lock the Holding Identification Number (HIN) of the account holder within 24 hours of being notified. This will stop any trades and movements of stock. For accounts held jointly, the trading account will be suspended, and no trades can be actioned.
  • Credit cards – where the deceased was the primary cardholder, the credit card will be cancelled along with any cards for the additional cardholder. Fees & interest on credit cards will cease. Any Macquarie Rewards Points will be converted to the equivalent of its monetary value and credited into the credit card account.
  • Car loans – where the deceased is the sole contract holder, fees on the lease will cease. Interest charges will continue.
  • Joint accounts – the account will remain open and can continue to be accessed by other account holders. A request to change details of the account can be made at any time. If account/s are both/all to sign access will be revoked until certified copy of death certificate is received. Please note, statements will continue to be sent with all current account holders’ names.
  • Adviser fees – individual account advice fees will cease. For joint, corporate, and trust accounts; ongoing advice fees will continue unless advised otherwise.

When we receive notification of someone passing, we’re required to act on the instructions provided from the person named in the Grant of Probate or Letters of Administration. 

Once we have the certified death certificate, we’ll refund any applicable fees and charges to the deceased’s account from date of death.

Additional information required to manage the estate

Once we’ve received the requested documents allowing us to share account-specific information with you, we’ll email you with the next steps.

Depending on the type of account, further requirements and options you may have are listed below.

Macquarie Cash Management Account (CMA)

For all documentary requirements of the different account structures on CMA please refer to Deceased Estates checklist Macquarie Cash Management Account.

Macquarie Wrap account

For all documentary requirements related to Wrap accounts (Investment, superannuation, and pension) please refer to Macquarie Wrap Deceased Estates checklist.

For superannuation and pension accounts, please notify the relevant insurance provider of the policy holder’s passing.

Super and pension

Reversionary pension nomination (pension only)

The person nominated as a reversionary beneficiary will receive the death benefit as a pension though can elect to receive the benefit as a lump sum after the pension has reverted to them.
 

Non-lapsing death benefit nomination held on the account

The person(s) nominated as beneficiary can elect to receive the benefit as a lump sum payment, by commencing a death benefit pension or a combination of both. We can only pay the death benefit as a pension if, at the time of death, the recipient is either:

  • a dependant of the deceased (for example, their spouse, a financial dependant, or a person with whom they have an interdependency relationship) who is not a child, or
  • a child of the deceased who is:
    • less than age 18, or
    • aged 18 to 24 inclusive and was financially dependent on the deceased, or
    • aged 18 or more and has a qualifying disability (broadly, this is a disability that is permanent or likely to be permanent and results in the need for ongoing support and a substantially reduced capacity for communication, learning or mobility).

A nominated child over the age of 18, that isn't financially dependent or has a qualifying disability, can only take their benefit as a lump sum.

For beneficiaries that were in an interdependency relationship with the deceased or financially dependent on the deceased, please complete the Information Request for Interdependency Relationships form and provide the additional supporting documentation to be reviewed by Trustee before the benefit payment can assessed.

To action the options for these accounts, we require the following documentation:
 

Benefits to be taken as death benefit income stream

  • a certified copy of the client’s death certificate
  • a certified copy of the beneficiary’s ID (if not provided as part of the application form)
  • an original Tax File Number Declaration is required if the beneficiary is under the age of 60.

We’ll also need: 

  • For a non-lapsing nomination: a new Pension application form completed in full by the beneficiary - To be submitted online by the adviser
  • For a reversionary beneficiary: a completed Macquarie Wrap Reversionary pension application form.
     

Benefits to be taken as a lump sum

  • a certified copy of the client’s death certificate
  • a certified copy of the beneficiary’s ID
  • a completed withdrawal form/letter signed by the beneficiary
  • the beneficiary’s Tax File Number (if payment is being made to an adult child of the deceased).
     

No Nomination or Nomination to the estate

  • a certified copy of the client’s death certificate
  • a certified copy of grant of probate/letters of administration
  • a certified copy of the executor/s or administrator/s ID
  • an individual identity verification form for all executor/s or administrator/s
  • a completed withdrawal form/letter signed by all the executor/s.

Other banking and loan accounts – Individual accounts

Place account under executor administration

To place the account under executor administration we’ll need each executor to complete the following, along with the minimum documentary requirements found in the section Who and what information is required to access the accounts?:

Close the account/s

To close an account(s) of someone who has passed away, please complete the following along with the minimum documentary requirements found in the section Who and what information is required to access the accounts?:

  • For bank accounts: a completed Deceased Estate Withdrawal form signed (pen to paper) by all the executor/s.
  • For home loans: Grant of Probate and a completed Discharge authority form signed (pen to paper) by all the executor/s. If you’d like for us to update the Certificate of Title prior to discharge, please also send us a signed copy of the Transmission application form can be requested from the lands title office or solicitor. It must be signed by the executor/s or administrator/s.

Other banking and loan accounts – Joint accounts

A joint account holder can continue to use the account. Please know, statements will continue to be sent with all current account holders’ names. Alternatively, the names on the account can be updated, please send a certified copy of the death certificate and written request to update the names on the account. There are times where we may require further documentation, especially if a new account is required. If this is the case, we’ll contact you.

For home loans

To update the certificate of title*, depending on the names on the title, we may need one of the following documents, which can be provided by the solicitor assisting with the changes or the relevant state’s lands title office:

  • a copy of the survivorship application OR
  • a copy of the Transmission Application by the executor/s or administrator/s, AND
  • a copy of the Transfer by executor/s or administrator/s transferring the interest to you as the beneficiary.

* A current fee of $395 is charged to update the certificate of title.

Trustee has passed away

Please provide the following

  • a certified copy of death certificate.
  • a certified copy of the deed of variation showing change of trustee
  • Beneficial Owner Details form.

If appointing a replacement individual as trustee, we’ll also need:

If a new corporate trustee is being appointed, we’ll also need:

Corporate account – director has passed away

When a company director has passed away, and a company account needs updating, please email the below documents:

  • a certified copy of the death certificate (not required if the ASIC extract has been updated to show the deceased as removed and no newly appointed director/s)
  • an updated ASIC Company extract showing update to office holder/s
  • a completed Beneficial Owner Details details form.

If a new office holder is to be appointed, we’ll also need:

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