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The Educational Employees Supplementary Retirement System of Fairfax County 8001 Forbes Place, Suite 300 Springfield, VA 221512205 7034263900 8447583793 www.fcps.edu/erfc Beneficiary Designation Continuation

How to fill out beneficiary designation continuation

How to fill out beneficiary designation continuation:

1. Start by obtaining the beneficiary designation continuation form. This form is typically provided by your financial institution or insurance company.
2. Begin by filling out your personal information, including your full name, address, and contact information.
3. Next, provide the details of the original beneficiary designation that you want to continue. This may include the name of the primary beneficiary, contingent beneficiaries, and their respective percentages or shares.
4. If you want to make any changes or updates to the original beneficiary designation, clearly indicate them on the form. For example, if you want to add or remove beneficiaries, specify the new beneficiaries and their respective percentages.
5. It is crucial to ensure the accuracy of the information provided. Double-check all the names, contact details, and the designated percentages before submitting the form.
6. Once you have completed filling out the form, review it again for any errors or omissions.
7. Sign and date the beneficiary designation continuation form. Some forms may require witnesses or a notary public, so be sure to complete those sections if necessary.
8. Keep a copy of the filled-out form for your records before submitting it to the appropriate party.

Who needs beneficiary designation continuation:

1. Individuals who have financial accounts or insurance policies with designated beneficiaries need beneficiary designation continuation. This includes retirement accounts, life insurance policies, annuities, and other investment accounts.
2. In cases where the designated beneficiaries are no longer alive or if you wish to make changes to the original beneficiary designation, a beneficiary designation continuation form is needed.
3. It is essential to update or confirm your beneficiaries periodically to ensure that your assets are distributed according to your wishes. Therefore, anyone who wants to modify or verify their beneficiary designations should use a beneficiary designation continuation form.

For pdfFiller’s FAQs

What is beneficiary designation continuation?

Beneficiary designation continuation is the process of updating or confirming the individuals who will receive benefits in the event of the policyholder's death.

Who is required to file beneficiary designation continuation?

Policyholders or account holders are usually required to file beneficiary designation continuation forms.

How to fill out beneficiary designation continuation?

To fill out beneficiary designation continuation, the policyholder must provide the names, addresses, and relationships of the chosen beneficiaries.

What is the purpose of beneficiary designation continuation?

The purpose of beneficiary designation continuation is to ensure that the right individuals receive benefits according to the policyholder's wishes.

What information must be reported on beneficiary designation continuation?

Information such as the beneficiary's full name, date of birth, social security number, and relationship to the policyholder must be reported on beneficiary designation continuation forms.

When is the deadline to file beneficiary designation continuation in 2024?

The deadline to file beneficiary designation continuation in 2024 is typically the end of the calendar year.

What is the penalty for the late filing of beneficiary designation continuation?

The penalty for the late filing of beneficiary designation continuation may include delays in processing benefits or possible loss of benefits for the chosen beneficiaries.

How do I make changes in beneficiary designation continuation?

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How do I fill out the beneficiary designation continuation form on my smartphone?

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