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This document is designed for individuals to designate beneficiaries for their accounts with Fidelity Investments, either for a new account or to change an existing designation. It includes sections

How to fill out non-qualified beneficiary designation form

How to fill out Non-Qualified Beneficiary Designation Form

1. Obtain the Non-Qualified Beneficiary Designation Form from your financial institution or estate planning attorney.
2. Read all instructions provided with the form carefully to ensure proper completion.
3. Fill out your personal information, including your name, address, and Social Security number.
4. Identify the beneficiaries by providing their names, contact information, and relationship to you.
5. Indicate the percentage of benefits each beneficiary will receive.
6. Include any contingent beneficiaries in case the primary beneficiaries predecease you.
7. Sign and date the form to validate your designations.
8. Submit the completed form to your financial institution and keep a copy for your records.

Who needs Non-Qualified Beneficiary Designation Form?

1. Individuals who have non-qualified investments or accounts that require a beneficiary designation.
2. People looking to ensure their assets are transferred according to their wishes upon passing.
3. Those wanting to simplify the estate settlement process for their beneficiaries.

People Also Ask about

What is a restricted beneficiary designation?

If elected by the Owner, this Endorsement allows the Owner to select the death benefit payout option that will be paid to specific Beneficiaries upon the Owner's death ('Restricted Beneficiary Payout Options').

What does it mean to be an ineligible beneficiary?

An ineligible beneficiary is someone who is not eligible to be a beneficiary in ance with the trust deed. This may include the trustee.

What are the different types of beneficiary designations?

4 Types of beneficiaries Primary beneficiaries. A primary beneficiary is your first choice: the first person who will receive the death benefit from your life insurance person or the main recipient of the assets in your will. Contingent beneficiaries. Revocable beneficiaries. Irrevocable beneficiaries.

Can I designate a foreign beneficiary?

Most simply put, the beneficiary must suffer some form of financial loss of your death. Some of the most common examples of people named as beneficiaries are spouse, child, fiancée, etc. The same rule applies when selecting a foreign national as a beneficiary to your U.S. life insurance.

What happens if I don't designate a beneficiary?

If you do not name a beneficiary, The Standard will pay the life benefit ing to the “policy order.” This means your surviving spouse will be paid the benefit as the first person listed in the order.

What is an example of a beneficiary designation?

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 does restricted beneficiary mean?

The restricted beneficiary receives income payments systematically as directed and the payout is as predetermined by you. In addition, major life changes, including: marriage, divorce and death of one of your loved ones, are all events that call for a review of your beneficiary designations.

How do I fill out a beneficiary designation 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.

For pdfFiller’s FAQs

What is Non-Qualified Beneficiary Designation Form?

The Non-Qualified Beneficiary Designation Form is a document used to specify beneficiaries for non-qualified financial accounts or assets, which are not subject to certain tax-qualified retirement plan regulations.

Who is required to file Non-Qualified Beneficiary Designation Form?

Individuals who hold non-qualified accounts, such as certain investment accounts, life insurance policies, or annuities, and wish to designate beneficiaries are typically required to file this form.

How to fill out Non-Qualified Beneficiary Designation Form?

To fill out the Non-Qualified Beneficiary Designation Form, provide personal information such as your name and account details, then list the beneficiaries along with their details, such as names, relationships, and percentages or specific assets to be distributed.

What is the purpose of Non-Qualified Beneficiary Designation Form?

The purpose of the Non-Qualified Beneficiary Designation Form is to ensure that the assets are passed on to the chosen beneficiaries upon the account holder's death, avoiding probate and ensuring proper distribution according to the holder's wishes.

What information must be reported on Non-Qualified Beneficiary Designation Form?

The form must typically include the account holder's information, details of the account or asset, and the names, addresses, birthdates, and relationship of the beneficiaries, along with their respective shares of the assets.