Get the free IRA BENEFICIARY DESIGNATION FORM X - Loomis Sayles

Please return to: Looms Sales Funds P.O. Box 219594 Kansas City, MO 64121-9594 800-633-3330 IRA BENEFICIARY DESIGNATION FORM www.loomissayles.com Use this form to indicate the person or persons to

How to fill out ira beneficiary designation form

How to fill out an IRA beneficiary designation form:

1. Obtain the form: Contact your IRA custodian or financial institution to request the IRA beneficiary designation form. They will provide you with the necessary document.
2. Identify the account: Fill in the necessary details to identify the specific IRA account for which you are designating beneficiaries. This may include the account holder's name, account number, and any other required information.
3. Provide personal information: Enter the personal information of the primary beneficiary, such as their full name, date of birth, address, and relationship to the account holder. Some forms may also require social security numbers or other identifying details.
4. Designate contingent beneficiaries: Include the information of contingent beneficiaries, who will inherit the IRA if the primary beneficiary predeceases the account holder. Provide their full names, dates of birth, addresses, and relationships to the account holder.
5. Specify percentages or allocations: Indicate how you would like to divide the assets among each beneficiary. You can either assign a specific percentage or allocate specific dollar amounts. Ensure that the total percentages or allocations add up to 100%.
6. Name a secondary or successor beneficiary: In case all primary and contingent beneficiaries pass away before the account holder, designate a secondary or successor beneficiary to receive the remaining assets. Provide their relevant personal information as well.
7. Review and sign: Carefully review all the information you have provided on the form to ensure accuracy. Once satisfied, sign and date the document. Some forms may require witness signatures or notarization, so be sure to follow any additional instructions provided.

Who needs an IRA beneficiary designation form?

1. Individuals with an Individual Retirement Account (IRA): If you have an IRA, it is highly recommended to complete a beneficiary designation form to specify who will receive the assets upon your passing. This ensures that your wishes are followed and avoids potential complications.
2. Estate planning purposes: Designating beneficiaries on an IRA beneficiary designation form allows for more seamless estate planning. It helps in avoiding probate and potentially provides tax advantages for your beneficiaries.
3. Changes in personal circumstances: If you experience significant life events such as a marriage, divorce, birth, or death, it is crucial to review and update your IRA beneficiary designation form accordingly to reflect any new beneficiaries or changes in the previously designated ones.
4. Regular review and updating: Even if there haven't been any major changes in your life, it is still good practice to review your IRA beneficiary designation form periodically. This ensures that your beneficiaries are up-to-date and aligned with your wishes.

By following the step-by-step process provided above, individuals can easily fill out an IRA beneficiary designation form and ensure their assets are distributed according to their wishes. It is vital to consult with a financial advisor or estate planning professional for specific guidance tailored to your circumstances.

For pdfFiller’s FAQs

What is ira beneficiary designation form?

IRA beneficiary designation form is a document that allows an individual to specify who will inherit their IRA assets upon their death.

Who is required to file ira beneficiary designation form?

Anyone who has an IRA account is required to file an IRA beneficiary designation form to ensure their assets are distributed according to their wishes.

How to fill out ira beneficiary designation form?

To fill out an IRA beneficiary designation form, you will need to provide the name, relationship, and percentage share of each beneficiary.

What is the purpose of ira beneficiary designation form?

The purpose of an IRA beneficiary designation form is to ensure that your IRA assets are passed on to the beneficiaries you have chosen in the event of your death.

What information must be reported on ira beneficiary designation form?

The information that must be reported on an IRA beneficiary designation form includes the names, relationships, and percentage shares of each beneficiary.

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