Q: My dad opened a Vangaurd Roth IRA account for me and as a minor, and even though I am 22 I cannot access it.
I worked for the money in the account. (about 3k) Usually, when you become of age you can own this type of account automatically. However, the account seems to have an error/they want to confirm the old address. The only person who can confirm the address is my Father, but he and I are not on speaking terms. Thus, despite this being my money and being of age, without my father's confirmation, this error prevents me from owning the account. This just feels wrong that my money is being withheld from me because of Vangaurd's internal confirmation needs, especially if that information is not coming from me? (Note, they were able to completely verify my identity and that it does belong to me) I don't plan to communicate with my father, even just to ask him to confirm that, so in theory, the money could just sit there forever.
A:
It’s frustrating to feel like your money is being held up by an error, especially when you've met all the requirements to take control of the account. Vanguard's need for your father’s confirmation, despite verifying your identity, feels unfair given that you are now an adult.
In this situation, you may want to contact Vanguard directly to explain your circumstances, emphasizing that you have no contact with your father and that this issue is preventing you from accessing your funds. Request to escalate the matter and ask them to provide a resolution that doesn't require your father's involvement, as this is your account and your money.
If they continue to insist on your father's confirmation, you might need to explore legal options. Consulting with a financial advisor or attorney could help you understand your rights and the steps you can take to resolve this issue.
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