The Wells Fargo Trustee Certification of Investment Powers is a form that lets a trustee open and operate a brokerage or investment account held in a trust without turning over the full trust instrument. You use it to confirm the trust exists, identify the trustees, and specify which investment activities the trust authorizes. Wells Fargo’s legal team reviews the certification in place of the underlying document, so beneficiary names and distribution terms stay private.
Where to Get the Form
The form is a free PDF on Wells Fargo’s WellsTrade applications and forms page under the investing section of wellsfargo.com.1Wells Fargo. WellsTrade Applications and Forms You can also request a copy from your Wells Fargo financial advisor or by phone: WellsTrade at 1-800-662-8211, Wells Fargo Advisors at 1-800-603-1584, or Wells Fargo Private Bank at 1-877-646-8560.2Wells Fargo. Estate Care Center The current version is revision 26, dated June 2018.3Wells Fargo Advisors. Trustee Certification of Investment Powers
Filling In the Trust Identification Sections
The first block of the form (Sections 1 through 8) identifies the trust and the people running it. Enter everything exactly as it appears in the trust instrument. Small mismatches between the form and the document delay account setup or cause outright rejection.
- Section 1 asks for the full legal name of the trust followed by the names of all currently acting trustees. The form’s example format is “The John Brown Revocable Living Trust, Mary Jones and Sam Smith, Trustees.” If you list more than one trustee, the bank presumes co-trusteeship.
- Section 2 wants the exact execution date of the trust instrument, or of the will if it is a testamentary trust.
- Section 3 is for amendment and restatement dates. If amendments exist and you leave this blank, the bank’s review team will catch the gap.
- Section 4 names the first successor trustee or successor co-trustees designated in the document.
- Section 6 asks whether the trust is revocable or irrevocable. If revocable, name the person who holds the power to revoke.
- Section 7 is the trust’s U.S. taxpayer identification number.
- Section 8 identifies the state whose law governs the trust. This controls both the notarization requirement and which trust code applies.
Section 7 causes more errors than any other field. While the grantor of a revocable trust is alive, the grantor’s Social Security Number is the correct entry. When the grantor dies, the trust becomes irrevocable and needs its own Employer Identification Number, which you obtain by filing IRS Form SS-4.4Internal Revenue Service. Instructions for Form SS-4 If a successor trustee steps in because the grantor is incapacitated rather than deceased, the trust remains revocable and the grantor’s SSN still applies.
Certifying the Investment Powers
Sections 5 and 9 are where you tell Wells Fargo what the account is allowed to do. Only certify powers the trust instrument actually grants. Authorizing activity the trust does not permit exposes you to personal liability as a fiduciary.
Section 9 covers two things. The first is options trading, offered in six escalating levels:3Wells Fargo Advisors. Trustee Certification of Investment Powers
- Level 1: covered call writing and buying puts against long stock positions (married puts).
- Level 2: Level 1 plus put writing against full deposit of the strike price (covered puts).
- Level 3: Level 2 plus options buying and purchasing put/call warrants.
- Level 4: Level 3 plus option spreading.
- Level 5: Level 4 plus uncovered put writing against buying power.
- Level 6: Level 5 plus uncovered straddles and uncovered call writing.
The second is a checklist of investment types labeled A through K: corporate stocks, corporate bonds, municipal securities, U.S. agency securities, U.S. government securities, unit investment trusts, mutual funds, limited partnerships, annuities, margin transactions (including short sales), and an open “Other” line. Check only the boxes the trust document permits. If the trust is silent on options or margin, leave those unchecked. The bank will not enable features you have not certified.
Margin trading (box J) warrants extra care. Authorizing margin lets the brokerage lend against trust assets to buy additional securities, which means trust property is pledged as collateral and a market drop can force liquidation through a margin call. Many trust instruments drafted by estate-planning attorneys either forbid margin outright or restrict it. Read the trust language before you check the box.
Signature Requirements Buried in the Back Half
Sections 10 through 19 are largely representations, indemnification, and authorization language you sign but do not fill in. One field in this stretch matters: the form asks how many trustees must sign to authorize transactions. If you leave it blank, Wells Fargo presumes one trustee signature is enough, even when there are multiple co-trustees.3Wells Fargo Advisors. Trustee Certification of Investment Powers If your trust requires all co-trustees to act jointly, write in the correct number. Otherwise a single trustee could place trades the others never agreed to.
By signing, you also agree that the bank will rely on the certification rather than on the trust instrument itself, and you accept responsibility for the accuracy of what you have certified.
Signing and Notarization
Every currently acting trustee signs the form. That is true even if only one trustee is required to authorize day-to-day transactions. The certification itself is a joint statement about the trust’s terms.
Notarization is required only when the trust is governed by one of these states: California, Colorado, Delaware, Idaho, Iowa, Kansas, Michigan, Minnesota, Mississippi, Nebraska, Nevada, South Dakota, Tennessee, and Vermont.3Wells Fargo Advisors. Trustee Certification of Investment Powers The governing state you entered in Section 8 controls. If it is on the list, each trustee completes a separate notary block, signs in the notary’s presence, and shows valid government-issued photo identification. The notary’s seal must be legible.
If your trust is governed by a state not on that list, you can skip the notary blocks. Notarizing anyway is not required but can head off questions from the bank’s review team about signature authenticity.
Trustees Signing From Outside the United States
U.S. embassies and consulates provide notarial services that function like a domestic notary public. Schedule an appointment with the nearest post and bring the unsigned form and your passport. Consular notarial fees vary by location.
Remote Online Notarization
About 40 states have authorized remote online notarization, which uses a secure video call rather than an in-person appearance. Whether Wells Fargo will accept a remotely notarized certification depends on the specific state’s RON law and the bank’s policy at the time you submit. Confirm with your Wells Fargo advisor before scheduling a remote session for this form.
Submitting the Completed Form
You have a few options for delivery. Hand-delivery to a Wells Fargo branch is the most straightforward, because a representative can flag obvious problems before the form moves to the trust department. If you mail the form, use certified mail or another trackable method. A lost original with notarized signatures means starting over. Some Wells Fargo financial advisors also accept scanned copies uploaded through secure digital portals, which shortens processing time.
After the bank receives the certification, its legal team reviews the document against internal standards and the applicable state law. Wells Fargo does not publish a specific timeline. Expect several business days, and longer if the form is incomplete, notarization is missing where required, or the certified powers are unusually broad. Once approved, the account is updated to reflect the certified powers, which may include enabling options trading at the certified level or activating margin. Confirmation comes through the online banking portal or by letter.
When to File a New Certification
The certification is a snapshot. If anything about the trust changes after you sign, that snapshot goes stale and you need to file an updated form. The bank has no way to learn about changes unless you report them, and transacting under an inaccurate certification puts the liability on you.
Trust Amendments and Restatements
If the trust has been amended to change investment powers, add or remove trustees, or alter the signature requirement, submit a new certification listing the amendment dates in Section 3 and updating any sections the amendment touched.
Successor Trustee Transitions
When an original trustee dies, Wells Fargo requires a certified copy of the death certificate along with a Certification of Trustee form naming the successor. The bank sometimes also asks for the specific section of the trust that designates the successor. The incoming trustee then completes a new Trustee Certification of Investment Powers to establish their own authority over the investment account. For investment accounts, the bank may also require a Letter of Authorization to Transfer Funds or Securities.2Wells Fargo. Estate Care Center
If you are taking over because the grantor is incapacitated rather than deceased, the trust document typically requires one or two physicians to certify in writing that the grantor can no longer manage financial affairs. Have those letters ready. The bank will want evidence that the triggering event in the trust actually occurred. The trust remains revocable throughout the incapacity, so the grantor’s SSN stays on the account until death.
A Note on Trustee Liability
The form includes a statement that the trust has not been revoked, modified, or amended in a way that would make the representations on the certification incorrect. Signing that statement is a legal representation the bank and the beneficiaries can hold you to. A trustee who provides false information on the certification faces personal liability to the trust’s beneficiaries. The statutory protections that shield third parties like Wells Fargo do not shield the trustee who signed.