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Vanguard Brokerage Account
Checkwriting Form
To establish the checkwriting service on your brokerage account
Note: If you’ve already established checkwriting on
your Vanguard Brokerage Account, the information
you provide on this form will replace the checkwriting
information you have on file for this account.
Establishing checkwriting
• Submit a separate form for each account. For
example, if you have an individual account and
a joint account, you must submit two Vanguard
Brokerage Account Checkwriting Forms if you
want checkwriting privileges for both accounts.
• Checkwriting privileges are free.
• If you have a VanguardAdvantage® account, you
can’t establish this checkwriting service.
Using your checks
• Checks will require the signature of only one
registered account owner, trustee, organization
representative, or full agent.
• The minimum check amount is $250.
• If you plan to cash these checks at your bank, you
should confirm your bank’s policies.
• Checks can’t be used to establish electronic
banking or bill-paying services.
• You can’t use a check to close an account.
• Assets in a Uniform Gifts/Transfers to Minors Act
(UGMA/UTMA) account legally belong to the named
minor and generally may only be used for the
benefit of that minor.
Selecting an alternative redemption fund
• Generally, checks will be paid from your money
market settlement fund. However, you may
designate any Vanguard money market or
bond fund already held in your account as your
“alternative redemption fund”—that is, a backup
to your settlement fund. If a check is presented for
payment and the balance of your settlement fund
is insufficient to cover the full amount of the check,
we’ll draw the remainder from your alternative
redemption fund, subject to certain conditions.
How we process checks
• Recently purchased shares of Vanguard funds,
including your money market settlement fund
and your alternative redemption fund, may not
be immediately available to pay checkwriting
redemptions. Generally, you must wait seven
calendar days before you can redeem those shares.
• Shares in your settlement fund will continue to
earn income until the day the check is presented
for payment.
• If a check is presented for payment against your
margin-approved account and the balance of your
settlement fund is insufficient to cover the full
amount of the check, we may honor the check and
create a margin debit in your account.
• Checks won’t be honored in certain situations (such
as if you have insufficient funds, you’ve requested
a stop payment, or your account is restricted).
Vanguard Brokerage doesn’t charge a fee for
dishonored checks and assumes no liability for any
related bank fees.
Guidelines for IRAs
• Checkwriting is available on traditional, rollover,
Roth, SEP-, and SIMPLE IRAs, but not on inherited
IRAs.
• Only U.S. citizens age 59½ or older with a valid U.S.
mailing address can write checks on an IRA.
• Vanguard won’t withhold federal, state, or local
income taxes on checks, which are considered
distributions for tax purposes. Distributions will be
reported on IRS Form 1099-R.
• Checks written to satisfy your required minimum
distribution (RMD) must clear your account by the
required distribution date of December 31 (or April 1
if this is your first RMD).
• Checks can’t be used to correct an excess IRA
contribution.
• The alternative redemption fund option isn’t
available for accounts with a margin agreement.
Vanguard Brokerage Services is a division of Vanguard Marketing Corporation, member FINRA and SIPC.
Signature requirements
Important: If the names of the account owners (or authorized signers) change in any way after checkwriting
is established, you’ll need to submit a new Vanguard Brokerage Account Checkwriting Form to update the
signatures on the account.
Account type
Who must sign
Individual and joint
Each registered owner.
IRA
Account owner.
Account with a full agent
Full agent AND registered account owner(s).
Guardian and UGMA/UTMA
All guardians and custodians.
Note: Limited agents can’t establish checkwriting or sign checks.
Note: Neither incompetents nor minors should sign the form; if they
do, the form won’t be processed.
Trust
All trustees.
Organization
All persons who are authorized to sign checks for the organization.
When will I receive my checks?
Mailing information
You should receive your checkbook two to three
weeks after the service is established, provided
your account has a balance greater than zero. If your
account has a zero balance, your checkbook request
won’t be processed until you add money to your
account. Note: Checks are automatically reordered
for you in quantities of 25 once the 20th check in your
checkbook has been presented for payment.
Make a copy of your completed form for
your records.
If you’ve recently added new bank information
online, your checkbook won’t be mailed until you’ve
completed the process to authenticate your bank.
Mail your completed form in the enclosed
postage-paid envelope. If you don’t have
a postage-paid envelope, mail to:
Vanguard
P.O. Box 1110
Valley Forge, PA 19482-1110
For overnight delivery, mail to:
Vanguard
455 Devon Park Drive
Wayne, PA 19087-1815
Form BCWBT
Vanguard Brokerage Account
Checkwriting Form
Use this form to establish the checkwriting service on your
brokerage account or to change or update signatures for
account owners, trustees, or authorized individuals.
Generally, checks will be paid from your settlement fund. However,
you may designate an “alternative redemption fund” as a backup to
your money market settlement fund (see Section 2).
Questions?
Call 800-662-2739.
To complete this form online, go
to vanguard.com/serviceforms.
Important: If the names of the account owners (or authorized
signers) change in any way after this service is established, you’ll
need to submit a new form to update the signatures on the account.
Print in capital letters and use black ink.
1. Account you’d like to write checks against
Brokerage account number Enter all eight digits
2. Alternative redemption fund
optional
You may designate any Vanguard money market or bond fund already held in your account as your
alternative redemption fund—that is, a backup to your settlement fund. If a check is presented for
payment and the balance of your settlement fund is insufficient to cover the full amount of the check,
we’ll draw the remainder from your alternative redemption fund, subject to certain conditions.
• The alternative redemption fund option isn’t available for accounts with a margin agreement.
• Recently purchased shares of Vanguard funds, including your money market settlement fund
and your alternative redemption fund, may not be immediately available to pay checkwriting
redemptions. Generally, you must wait seven calendar days before you can redeem those shares.
• The sale of a fund could result in tax consequences.
• Because of market fluctuations, the full market value of a bond fund may not be available for
checkwriting redemptions.
• If the balance in the fund designated as your alternative redemption fund goes to zero, you’ll
need to reestablish it as your alternative redemption fund. To do so, log on to your account at
vanguard.com or call us.
Designate only
one Vanguard money
market or bond fund
in your account.
Fund symbol Optional
Fund name Optional
>
For bond funds only: In most cases, either Vanguard’s default cost basis method (average cost) or your preferred
cost basis method for this account will be used for checkwriting-initiated transactions. However, if your preferred
method is the specific identification method, by signing this form you agree to use first in, first out for these
transactions. Vanguard Asset Management Services™ accounts may have a different default cost basis method;
please consult your financial advisor for details.
Signatures are required on the next page. All owners, trustees, organization representatives, and full agents on
the account listed in Section 1 must sign in Section 3. (If the owner is a minor, the custodian must sign.) For detailed
signature requirements, refer to Signature requirements in the instructions at the front of this form.
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Form BCWBT
3. Signature(s) of account owner(s) and/or authorized representative(s)
I/We authorize Vanguard Brokerage Services’ custodian bank to honor checks drawn by me/us on the
Vanguard Brokerage Account listed in Section 1. Generally, funds will be paid from my/our settlement
fund. If the balance of my/our settlement fund and, if chosen, my/our alternative redemption fund are
insufficient to cover the full amount of a check, and if no free credits apply to me/us, I/we understand
that the check may not be honored.
I/We agree to all of the terms and conditions relating to the checkwriting service as explained on this
form and that are or may be found in the Vanguard Brokerage Account Agreement.
I/We understand that:
• This service may be amended or terminated at any time by Vanguard Brokerage Services® or the
bank, and neither shall incur any liability to me/us for such amendment or termination, for honoring
such checks, for effecting redemptions or creating debits to pay such checks, or for returning checks
that haven’t been accepted.
• Checks drawn on any type of account will require the signature of only one registered owner,
trustee, organization representative, or full agent.
• If I’m establishing checkwriting on an IRA, I certify that I’m age 59½ or older and I elect not to have
federal and state income taxes withheld from my IRA checkwriting distributions. I understand that
I’m responsible for paying any taxes due on my IRA checkwriting distributions. I understand that
I may be responsible for paying estimated taxes on my IRA checkwriting distributions, and if my
estimated tax payments are insufficient, I may incur penalties.
Print first, middle
initial, and last,
legal name.
>
First name
MI
Last name
Last four digits of Social Security number* Zip code
Sign in the
center of
the box.
Signature
Date mm dd yyyy
> X
First name
/
MI
/
Last name
Last four digits of Social Security number* Zip code
Sign in the
center of
the box.
If you need more
space for additional
signatures,
photocopy this
page and mail both
documents in the
same envelope.
Sign in the
center of
the box.
Signature
Date mm dd yyyy
> X
>
First name
/
MI
/
Last name
Last four digits of Social Security number* Zip code
Signature
> X
Date mm dd yyyy
/
/
*For organizations, provide the full employer ID number.
Vanguard Brokerage Services is a division of Vanguard Marketing Corporation, member FINRA and SIPC.
Vanguard Asset Management Services are provided by Vanguard National Trust Company, which is a federally
chartered, limited-purpose trust company operated under the supervision of the Office of the Comptroller of the Currency.
© 2017
The Vanguard Group, Inc.
All rights reserved.
BCWBT 042017
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