Get the free Beneficiary Designation Form - Retirement

City of Newport News Employees Retirement and Benefits Office 2400 Washington Avenue Newport News, VA 23607 Employee Retirement Fund Beneficiary Designation Form Reset Form Retiree Name: Address:

How to fill out beneficiary designation form

How to fill out a beneficiary designation form:

1. Start by obtaining a copy of the beneficiary designation form from the relevant financial institution or insurance company. This form is typically used to designate the individuals or entities who will receive the assets or benefits upon your death.
2. Read the form thoroughly and understand the instructions provided. Familiarize yourself with the terms and definitions used in the form to ensure accurate completion.
3. Begin by providing your personal information, including your full name, address, date of birth, and contact details. Some forms may also require you to include your social security number or other identifying information.
4. Identify the financial account or insurance policy for which you are designating beneficiaries. Provide the necessary account or policy numbers and the name of the financial institution or insurance company.
5. Specify the primary beneficiary or beneficiaries. These are the individuals or entities who will receive the assets or benefits upon your death. Include their full names, addresses, and the percentage or specific amount of assets or benefits they should receive. You may designate multiple primary beneficiaries and allocate percentages or amounts for each.
6. If you wish to designate contingent beneficiaries, who will only receive the assets or benefits if the primary beneficiaries predecease you, provide their full names, addresses, and the percentage or specific amount allocated to each. Contingent beneficiaries are essential to ensure a backup plan in case the primary beneficiaries cannot inherit.
7. Sign and date the form, following any additional instructions related to witness requirements or notarization. Some forms may require the signature of a witness or a notary public to validate the document.

Who needs a beneficiary designation form?

1. Individuals who own financial accounts such as retirement plans, investment accounts, or bank accounts may need a beneficiary designation form. These forms ensure that upon the account owner's death, the designated beneficiaries can inherit the assets without going through probate.
2. Life insurance policyholders also require beneficiary designation forms. By completing this form, policyholders can specify who should receive the death benefit proceeds when they pass away.
3. Trusts or estate plans often involve beneficiary designation forms to ensure an organized and seamless transfer of assets to the intended beneficiaries.

Remember, it is crucial to review and update your beneficiary designation forms periodically, especially after significant life events such as marriage, divorce, birth, or death.

For pdfFiller’s FAQs

How can I get beneficiary designation form?

The premium subscription for pdfFiller provides you with access to an extensive library of fillable forms (over 25M fillable templates) that you can download, fill out, print, and sign. You won’t have any trouble finding state-specific beneficiary designation form and other forms in the library. Find the template you need and customize it using advanced editing functionalities.

Can I create an electronic signature for signing my beneficiary designation form in Gmail?

With pdfFiller's add-on, you may upload, type, or draw a signature in Gmail. You can eSign your beneficiary designation form and other papers directly in your mailbox with pdfFiller. To preserve signed papers and your personal signatures, create an account.

Can I edit beneficiary designation form on an Android device?

You can edit, sign, and distribute beneficiary designation form on your mobile device from anywhere using the pdfFiller mobile app for Android; all you need is an internet connection. Download the app and begin streamlining your document workflow from anywhere.

What is beneficiary designation form?

A beneficiary designation form is a legal document used to specify who will receive assets such as retirement accounts, life insurance policies, or other financial assets upon the death of the account holder or policy owner.

Who is required to file beneficiary designation form?

Anyone who has a retirement account, life insurance policy, or other financial assets that have a designated beneficiary should fill out a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, you will need to provide basic information such as the full name, date of birth, social security number, and relationship to the account holder or policy owner of the beneficiary.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that upon the death of the account holder or policy owner, the assets are transferred to the designated beneficiaries according to their wishes.

What information must be reported on beneficiary designation form?

The beneficiary designation form typically requires information such as the full name, date of birth, social security number, and relationship to the account holder or policy owner of the beneficiary.