Get the free Binding Death Benefit Nomination Form - Intuit Benefits

Binding death benefit nomination You can use this form to make a binding death benefit nomination in the Fund. You cannot revoke or renew a binding death nomination using this form. If you have more

How to fill out binding death benefit nomination

How to fill out binding death benefit nomination

1. To fill out a binding death benefit nomination, follow these steps:
2. Obtain the necessary nomination form from your superannuation fund or provider.
3. Read the instructions and guidelines provided with the form to understand the requirements.
4. Fill in your personal details, including your name, address, and date of birth.
5. Provide the details of your chosen beneficiaries, including their full names, dates of birth, and relationship to you.
6. Clearly specify the percentage or portion of your superannuation benefit you want each beneficiary to receive.
7. Sign and date the nomination form in the presence of two witnesses who are over 18 years old and not mentioned as beneficiaries.
8. Ensure that the witnesses also sign and provide their details on the form.
9. Submit the completed form to your superannuation fund or provider for processing.
10. Keep a copy of the filled-out form for your records.

Who needs binding death benefit nomination?

1. Anyone who has a superannuation fund or provider should consider making a binding death benefit nomination.
2. It is especially important for individuals who want to have control over who will receive their superannuation benefit upon their death.
3. By making a binding death benefit nomination, you can ensure that your benefit is distributed according to your wishes and override any discretionary decisions made by the fund trustee.
4. This is particularly relevant for individuals who may have complex family arrangements, multiple dependents, or specific philanthropic desires.
5. It is advisable to consult with a financial advisor or estate planning professional to determine if a binding death benefit nomination is suitable for your specific circumstances.

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What is binding death benefit nomination?

Binding death benefit nomination is a formal request made by a superannuation fund member to specify who will receive the death benefits in the event of their death.

Who is required to file binding death benefit nomination?

Superannuation fund members who want to ensure that their death benefits are distributed according to their wishes are required to file binding death benefit nomination.

How to fill out binding death benefit nomination?

To fill out a binding death benefit nomination, the superannuation fund member must complete the relevant form provided by their fund, specify the nominated beneficiaries, sign and date the form.

What is the purpose of binding death benefit nomination?

The purpose of binding death benefit nomination is to provide clear instructions on who should receive the superannuation fund member's death benefits, allowing the member to have control over the distribution of their assets.

What information must be reported on binding death benefit nomination?

The binding death benefit nomination must include details of the nominated beneficiaries, their relationship to the fund member, and the percentage of benefits each beneficiary is entitled to receive.