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11/98 DESIGNATION OF BENEFICIARY FORM Plan Name: Hilo Trading Co. Inc., Retirement Plan Social Security Number — Plan Number: 12008 Participant Information Note: The accompanying instructions are
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What is designation of beneficiary form?
The designation of beneficiary form is a legal document that allows an individual to specify who will receive certain benefits or assets upon their death.
Who is required to file designation of beneficiary form?
The requirement to file a designation of beneficiary form varies depending on the type of benefit or asset being designated. However, typically individuals such as insurance policyholders, retirement account holders, and pension plan participants are required to file this form.
How to fill out designation of beneficiary form?
To fill out a designation of beneficiary form, you need to provide personal information such as your name, contact details, and social security number. You also need to specify the beneficiary's name, relationship to you, and their contact information. Additionally, you may need to provide account or policy details as required by the form.
What is the purpose of designation of beneficiary form?
The purpose of the designation of beneficiary form is to ensure that an individual's assets or benefits are distributed according to their wishes upon their death. It allows them to name specific individuals or entities as beneficiaries, thereby avoiding potential conflicts or uncertainties regarding asset distribution.
What information must be reported on designation of beneficiary form?
The specific information required on a designation of beneficiary form may vary depending on the type of benefit or asset being designated. However, common information that is often requested includes the beneficiary's name, relationship to the individual filing the form, contact information, and their Social Security number.
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