Get the free IRA Change of Beneficiary Form - Green Century Funds

INDIVIDUAL RETIREMENT ACCOUNT (IRA) CHANGE OF BENEFICIARY ACCOUNT NUMBER SOCIAL SECURITY NUMBER GREEN CENTURY BALANCED FUND AND/OR GREEN CENTURY EQUITY FUND DESIGNATION OF BENEFICIARY (Revocable)

How to fill out ira change of beneficiary

How to fill out an IRA change of beneficiary:

1. Obtain the necessary forms: Contact your IRA custodian or financial institution to request the appropriate forms for an IRA change of beneficiary. They may provide a specific form for this purpose, or you may need to submit a written request.
2. Provide accurate beneficiary information: Fill out the form with the correct and complete information of the new beneficiary. This typically includes their full name, date of birth, social security number, relationship to the account owner, and their contact details.
3. Specify the percentage or allocation: Indicate how you want the assets to be distributed among the beneficiaries if you're naming multiple individuals. You can allocate specific percentages or provide detailed instructions for their shares.
4. Review and sign the form: Carefully review all the information you have provided and make any necessary corrections. Ensure that the form is signed and dated accurately, following the instructions provided by your IRA custodian.
5. Submit the form: Send the completed and signed form to your IRA custodian or financial institution according to their instructions. It is recommended to keep a copy for your records.

Who needs an IRA change of beneficiary?

1. Individuals with an existing IRA account: Anyone who currently has an IRA account may need to complete an IRA change of beneficiary form to update or modify their beneficiary designation.
2. Those who have experienced life changes: Life circumstances such as marriage, divorce, birth of a child, or the passing of a beneficiary may require updating the beneficiary designation on the IRA account.
3. Individuals without a designated beneficiary: If an IRA account does not have a designated beneficiary, it will likely be subject to the default provisions outlined by the IRA custodian or the terms of the IRA agreement. Therefore, individuals in this situation may benefit from completing an IRA change of beneficiary form to ensure their assets are distributed according to their wishes.

It is important to note that IRA rules and requirements may vary depending on your specific situation and the policies of your IRA custodian or financial institution. It is always advisable to consult with a financial advisor or tax professional for personalized guidance when making changes to your IRA beneficiary designation.

For pdfFiller’s FAQs

What is ira change of beneficiary?

IRA change of beneficiary is the process of updating the designated individual or entity who will receive the funds in the IRA account upon the account holder's death.

Who is required to file ira change of beneficiary?

The IRA account holder is required to file an IRA change of beneficiary, as they have full control over designating who will receive the funds in the account.

How to fill out ira change of beneficiary?

To fill out an IRA change of beneficiary, the account holder will need to contact their financial institution or IRA custodian to obtain the necessary forms and instructions. They will need to provide the updated beneficiary information.

What is the purpose of ira change of beneficiary?

The purpose of IRA change of beneficiary is to ensure that the funds in the account are passed on to the designated beneficiary in the event of the account holder's death.

What information must be reported on ira change of beneficiary?

The IRA change of beneficiary form typically requires information such as the name, relationship, and contact information of the new beneficiary.

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