Get the free 457 or Nonqualified Beneficiary Designation Form

Form to designate beneficiaries for accounts under the Fidelity Investments plan, allowing users to specify primary and contingent beneficiaries along with their respective details.

How to fill out 457 or nonqualified beneficiary

How to fill out 457 or Nonqualified Beneficiary Designation Form

1. Obtain the 457 or Nonqualified Beneficiary Designation Form from your plan administrator or website.
2. Read the instructions carefully to understand the requirements and details needed.
3. Fill out your personal information including your name, address, and social security number at the top of the form.
4. Identify and list your primary beneficiaries by providing their names, relationships to you, and their social security numbers.
5. If desired, list secondary beneficiaries in the same manner.
6. Specify the percentage of benefits each beneficiary will receive.
7. Review and double-check all the information for accuracy.
8. Sign and date the form in the designated areas.
9. Submit the completed form to your plan administrator, following any specific submission guidelines they provide.

Who needs 457 or Nonqualified Beneficiary Designation Form?

1. Individuals participating in a 457 deferred compensation plan or similar nonqualified retirement plans that allow for beneficiary designations.
2. Anyone who wants to ensure their designated beneficiaries receive benefits in the event of their passing.

People Also Ask about

How to fill out a designation of beneficiary form?

Provide the following information on the beneficiary designation: The full name of the trust as it shows on the trust document. The date the trust was created. The name of the trustee, followed by the word “trustee”, or if you cannot provide a trustee, ETF may accept another contact person. The trustee's address.

What is an example of a beneficiary designation?

For example, the account owner could create a beneficiary designation stating that the funds will be distributed to the owner's Trust upon the death of the owner. The Trustee of the owner's Trust would then receive the funds and distribute the funds ing to the terms of the Trust.

What is an example of a designated beneficiary?

A lot of people name a close relative—like a spouse, brother or sister, or child—as a beneficiary. You can also choose a more distant relative or a friend. If you want to designate a friend as your beneficiary, be sure to check with your insurance company or directly with your state.

Who is the beneficiary of the deferred compensation plan?

The Role of Beneficiary Designations Deferred compensation plans generally require you to designate a beneficiary who will receive the funds upon your death. Importantly, these designations often take precedence over instructions in your will or trust.

What are beneficiary designations examples?

Beneficiary designations are commonly used with life insurance policies, IRAs, 401(k)s, and other types of accounts with death benefits. For example, you may set up a life insurance policy to name your spouse as your primary beneficiary, with your kids as equal contingent beneficiaries if your spouse predeceases you.

What beneficiary type should I choose?

A lot of people name a close relative—like a spouse, brother or sister, or child—as a beneficiary. You can also choose a more distant relative or a friend. If you want to designate a friend as your beneficiary, be sure to check with your insurance company or directly with your state.

For pdfFiller’s FAQs

What is 457 or Nonqualified Beneficiary Designation Form?

The 457 or Nonqualified Beneficiary Designation Form is a document that allows individuals to designate beneficiaries for their nonqualified deferred compensation plans or 457 plans, ensuring that benefits are passed on to named beneficiaries upon the plan holder's death.

Who is required to file 457 or Nonqualified Beneficiary Designation Form?

Individuals who participate in a 457 plan or have nonqualified deferred compensation plans are required to file this form to ensure that their beneficiaries are clearly identified.

How to fill out 457 or Nonqualified Beneficiary Designation Form?

To fill out the form, individuals must provide their name, address, social security number, and the details of the beneficiaries they wish to designate, including their names, relationship to the individual, and percentage of benefits they will receive.

What is the purpose of 457 or Nonqualified Beneficiary Designation Form?

The purpose of the form is to specify and formalize the beneficiaries entitled to receive benefits from a 457 plan or nonqualified deferred compensation plan after the account holder's death.

What information must be reported on 457 or Nonqualified Beneficiary Designation Form?

The form must report information such as the account holder's personal details, the names and contact information of the designated beneficiaries, their relationship to the account holder, and the distribution percentages for each beneficiary.