Get the free 401k Beneficiary Designation Form

THE BENCHMARK CORPORATION SAVINGS AND INVESTMENT PLAN (401(k) / Thrift Plan) BENEFICIARY DESIGNATION EMPLOYEE INFORMATION: (PLEASE PRINT) NAME EMPLOYEE # ADDRESS SOCIAL SECURITY # MARITAL STATUS ?

How to fill out 401k beneficiary designation form

How to Fill Out a 401k Beneficiary Designation Form:

1. Gather relevant information: Start by collecting the necessary details about yourself and your intended beneficiaries. This may include full names, dates of birth, social security numbers, addresses, and relationship to you. Make sure you have this information readily available before proceeding with the form.
2. Obtain the form: Contact your 401k plan administrator or provider to request a beneficiary designation form if you don't already have one. Most companies offer these forms online, so you can also check their website or employee portal.
3. Read the instructions: Before filling out the form, carefully review the provided instructions. This will help you understand the purpose of each section and any specific requirements or restrictions that may apply.
4. Provide personal information: Begin by providing your own personal information, including your full name, contact information, and social security number. This is essential for identifying your account and ensuring accurate record-keeping.
5. Specify primary beneficiaries: Indicate the name and relationship of your primary beneficiary/beneficiaries. These are typically your immediate family members or anyone you wish to receive the bulk of your 401k assets upon your passing. You may need to provide their social security numbers and dates of birth as well.
6. Designate contingent beneficiaries: In case your primary beneficiary predeceases you or is unable to receive the assets, it's important to name contingent beneficiaries. These individuals would step in and inherit the assets instead. Similar to the primary beneficiaries, you'll need to include their names, relationships, and necessary personal information.
7. Consider percentages or shares: Depending on your preference, you may choose to divide your 401k assets among your beneficiaries in equal percentages or specific shares. If this option is available, clearly indicate how you want the assets distributed. Otherwise, you can specify "per stirpes" to ensure that if a primary beneficiary passes away, their share will be divided among their own children.
8. Review and sign the form: Once you have completed all relevant sections, carefully review the form to ensure accuracy. Double-check all names, dates of birth, and other information provided. Finally, sign and date the form according to the provided instructions.

Who Needs a 401k Beneficiary Designation Form:

1. Employees with a 401k plan: If you are an employee who participates in a 401k plan offered by your employer, you will need to complete a beneficiary designation form. This ensures that in the event of your passing, your designated beneficiaries receive the assets in your 401k account.
2. Self-employed individuals with a solo 401k: Self-employed individuals who have set up a solo 401k plan must also complete a beneficiary designation form. Even if you are the only participant in the plan, it's crucial to determine who will inherit the assets upon your death.
3. Existing 401k account holders: If you already have a 401k account but have not designated beneficiaries or need to update your existing designations, you should complete a beneficiary designation form. Regularly reviewing and updating your beneficiaries is essential to ensure your assets go to the intended recipients and align with your current wishes.

For pdfFiller’s FAQs

What is 401k beneficiary designation form?

401k beneficiary designation form is a document that allows a 401k account holder to specify who will receive the funds in their account upon their death.

Who is required to file 401k beneficiary designation form?

All individuals who have a 401k account are required to file a beneficiary designation form to ensure that their assets are distributed according to their wishes.

How to fill out 401k beneficiary designation form?

To fill out a 401k beneficiary designation form, you must provide the names and relationships of your chosen beneficiaries, their contact information, and the percentage of the account assets each beneficiary should receive.

What is the purpose of 401k beneficiary designation form?

The purpose of a 401k beneficiary designation form is to designate who will receive the funds in your 401k account upon your death and ensure that your assets are distributed according to your wishes.

What information must be reported on 401k beneficiary designation form?

The 401k beneficiary designation form must include the names and relationships of the beneficiaries, their contact information, and the percentage of the account assets each beneficiary should receive.

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