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Collapsing Binding Nomination Form
ALL SECTIONS MUST BE COMPLETEDPLEASENOTPLEASE USE BLOCK LETTERS ARE YOU A MEMBER OF IEC SUPER? This form should be completed when you wish to make a nonlapsing binding
nomination.
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How to fill out non-lapsing binding nomination form
How to fill out non-lapsing binding nomination form
01
To fill out a non-lapsing binding nomination form, follow these steps:
02
Obtain a copy of the non-lapsing binding nomination form from the relevant institution or organization.
03
Read and understand the instructions provided with the form.
04
Provide your personal details such as full name, date of birth, and contact information.
05
Nominate the beneficiaries by providing their full names, addresses, and relationship to you (e.g., spouse, child, etc.).
06
Specify the percentage or amount of benefit each nominated beneficiary should receive.
07
Review the form carefully to ensure all information is accurate and complete.
08
Sign and date the form in the designated spaces.
09
Submit the filled-out form to the relevant institution or organization as per their instructions.
10
Keep a copy of the completed form for your records.
11
Please note that these steps serve as general guidance, and it is advisable to consult with legal professionals or financial advisors for specific guidance related to your circumstances.
Who needs non-lapsing binding nomination form?
01
Non-lapsing binding nomination forms are useful for individuals who want to ensure that their superannuation or life insurance benefits are distributed according to their wishes after their death.
02
These forms are typically used by individuals who have a self-managed super fund (SMSF), a binding nomination option within their superannuation fund, or a life insurance policy where nomination forms are required for beneficiary designation.
03
It is important to check with the relevant institution or organization to determine if a non-lapsing binding nomination form is applicable and suitable for your specific situation.
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