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Fidelity Investments Qualified Plan Beneficiary Designation 1. GENERAL INSTRUCTIONS Please complete this form and sign it on the back. In the future, you may revoke the beneficiary designation and

How to fill out qualified plan beneficiary designation

How to fill out qualified plan beneficiary designation:

1. Start by obtaining the necessary form from your qualified plan provider. This form is typically called the "Beneficiary Designation Form" or something similar.
2. Carefully read the instructions on the form. They will provide important information on how to properly complete the form and ensure that your beneficiary designation is legally valid.
3. Begin by entering your personal information, such as your name, address, and social security number, as requested on the form.
4. Next, identify the qualified plan for which you are designating a beneficiary. This may include providing the plan name, account number, and any other relevant details.
5. Clearly indicate the primary beneficiary or beneficiaries. These are the individuals or entities who will receive the assets from your qualified plan upon your passing. Include their full names, relationship to you, and their respective percentages or shares of the plan assets.
6. If desired, designate contingent beneficiaries. These individuals or entities will only inherit the assets if the primary beneficiary predeceases you or is unable to receive the assets for any reason. Again, include their full names, relationship to you, and their respective percentages or shares of the plan assets.
7. Review the completed form thoroughly to ensure accuracy. Check for any mistakes, missing information, or inconsistencies.
8. Sign and date the beneficiary designation form, following the provided instructions on where to sign and date.
9. Submit the form to your qualified plan provider according to their specified submission process. This usually involves mailing the form to a designated address or submitting it electronically through the provider's online portal.
10. Keep a copy of the completed form for your records. It is also recommended to inform your designated beneficiaries about their designation, so they are aware of their potential inheritance.

Who needs qualified plan beneficiary designation:

1. Individuals who have a qualified retirement plan, such as a 401(k), 403(b), or IRA, should consider designating beneficiaries. This ensures that upon your passing, the assets in your qualified plan are distributed according to your wishes, rather than potentially being subject to probate or state laws.
2. Married individuals may want to designate their spouse as the primary beneficiary, providing them with access to the qualified plan assets without going through a probate process.
3. Those who have specific intentions for their qualified plan assets, such as leaving them to children, grandchildren, charities, or other individuals or organizations, should designate these individuals or entities as beneficiaries to ensure their wishes are honored.

Note: It is essential to regularly review and update your beneficiary designations to reflect any changes in your personal circumstances, such as getting married, divorced, or the birth of children. Consult a legal or financial professional if you have any specific questions or concerns about completing a qualified plan beneficiary designation form.

For pdfFiller’s FAQs

What is qualified plan beneficiary designation?

Qualified plan beneficiary designation is a legal document that specifies who will receive the assets of a qualified retirement plan, such as a 401(k) or IRA, upon the death of the plan participant.

Who is required to file qualified plan beneficiary designation?

The plan participant or account holder is required to file a qualified plan beneficiary designation.

How to fill out qualified plan beneficiary designation?

To fill out a qualified plan beneficiary designation, the plan participant must provide the name, address, Social Security number, and relationship of each designated beneficiary.

What is the purpose of qualified plan beneficiary designation?

The purpose of qualified plan beneficiary designation is to ensure that the assets of a qualified retirement plan are distributed according to the plan participant's wishes upon their death.

What information must be reported on qualified plan beneficiary designation?

A qualified plan beneficiary designation must report the name, address, Social Security number, and relationship of each designated beneficiary.

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