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BENEFICIARY DESIGNATION FORM Plan Name: Plan Number: This form is used to designate the payment of your account balance upon your death. Please keep a copy of this beneficiary form and return the

How to fill out beneficiary designation form

How to fill out a beneficiary designation form:

1. Start by obtaining the beneficiary designation form from the appropriate institution or organization. This can typically be done online or by contacting the institution directly.
2. Begin by providing your personal information, including your full name, address, date of birth, and any other requested details.
3. Indicate the type of account or policy for which you are designating a beneficiary. This could include life insurance policies, retirement accounts, investment accounts, or other types of assets.
4. Clearly list the full name of the primary beneficiary or beneficiaries. Include their relationship to you, such as spouse, child, sibling, or friend.
5. Specify the percentage or portion of the assets that each beneficiary will receive. This will ensure that your assets are distributed according to your wishes.
6. If you want to name contingent beneficiaries, provide their full names and the percentage or portion they should receive. Contingent beneficiaries will receive the assets if the primary beneficiary is unable to or chooses not to accept them.
7. Review the form thoroughly for accuracy and completeness before signing and dating it. Ensure that all required fields have been filled out properly.
8. Follow the instructions provided by the institution to submit the beneficiary designation form. This may include mailing it to a specific department or submitting it electronically.
9. Keep a copy of the completed beneficiary designation form for your records. It is also recommended to inform your designated beneficiaries of your decision and provide them with a copy as well.

Who needs a beneficiary designation form:

1. Individuals who have life insurance policies should have a beneficiary designation form. This helps determine who will receive the death benefit upon the policyholder's passing.
2. Those with retirement accounts, such as 401(k)s or IRAs, should complete a beneficiary designation form to specify who will inherit the funds in these accounts.
3. Anyone with investment accounts or assets held within trusts may need to fill out beneficiary designation forms to ensure a smooth transfer of these assets to their intended recipients.
4. People who have pension plans or employee benefits should also consider completing beneficiary designation forms to determine who will receive these benefits in the event of their death.

Remember, it is essential to regularly review and update beneficiary designation forms as life circumstances change, such as marriages, births, divorces, or deaths in the family.

For pdfFiller’s FAQs

What is beneficiary designation form?

A beneficiary designation form is a legal document that allows an individual to specify who will receive certain assets, such as retirement accounts or life insurance proceeds, upon their death.

Who is required to file beneficiary designation form?

Individuals who have assets that require a designated beneficiary, such as retirement accounts or life insurance policies, are required to file a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, an individual must provide their personal information as well as the information of the designated beneficiary. They must also specify the percentage or amount of the assets each beneficiary will receive.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that an individual's assets are distributed according to their wishes upon their death.

What information must be reported on beneficiary designation form?

The beneficiary designation form must include the personal information of the individual filing the form, as well as the personal information of the designated beneficiary.

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