Get the free Beneficiary Designation Form - City of Phoenix

Return completed form to: Nationwide Retirement Solutions 4747 N. 7th Street, Suite 418 Phoenix, AZ 85014 Local Office: (602) 266-2733 Toll Free: 1-800-891-4PHX City of Phoenix 457(b) / 401(a) Plans

How to fill out beneficiary designation form

How to fill out beneficiary designation form:

1. Start by obtaining the beneficiary designation form from the relevant institution or organization. This form may be required for various financial accounts or insurance policies.
2. Carefully read the instructions provided on the form. Understand the purpose and requirements of the beneficiary designation.
3. Begin by filling out your personal information accurately, including your full name, address, contact details, and any other requested information.
4. Identify the specific account or policy for which you are designating a beneficiary. Provide the necessary details like the account number or policy number.
5. Enter the name, relationship, and contact information of the primary beneficiary. The primary beneficiary is the individual who will receive the benefits in case of your death.
6. If you wish to designate contingent beneficiaries, who will receive the benefits if the primary beneficiary predeceases you, provide their name, relationship, and contact information.
7. Double-check all the information you have entered to ensure its accuracy. Incorrect or incomplete information may lead to complications in the future.
8. Proceed to date and sign the form, adhering to any additional witnessing or notarization requirements mentioned on the form.
9. Make copies of the completed form for your records and submit the original form to the appropriate institution or organization as instructed.

Who needs beneficiary designation form:

1. Individuals with various financial accounts like retirement plans (401(k), IRA), life insurance policies, annuities, or bank accounts may need beneficiary designation forms.
2. Those who wish to designate specific individuals or organizations to receive the assets or benefits from these accounts or policies upon their death require beneficiary designation forms.
3. It is important for anyone who wants to proactively plan for the distribution of their assets and ensure their loved ones or chosen entities are provided for after their passing.

Remember, it is always recommended to consult with a legal or financial professional when filling out beneficiary designation forms to ensure they align with your overall estate planning goals and legal requirements.

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What is beneficiary designation form?

A beneficiary designation form is a document that allows a person to specify who will receive their assets or benefits upon their death.

Who is required to file beneficiary designation form?

Individuals with assets or benefits that have a designated beneficiary must file a beneficiary designation form.

How to fill out beneficiary designation form?

To fill out a beneficiary designation form, one must provide their personal information as well as the information of the designated beneficiary.

What is the purpose of beneficiary designation form?

The purpose of a beneficiary designation form is to ensure that the assets or benefits are distributed according to the wishes of the deceased individual.

What information must be reported on beneficiary designation form?

The beneficiary designation form must include the name, contact information, and relationship of the designated beneficiary.