Get the free 401(k) Beneficiary Designation Form - Filice Insurance

Beneficiary Use black or blue ink when completing this form For questions 384583-01 Sports Medical Management, A Participant regarding this form, contact Service Provider at 1-800-338-4015 Inc. Information

How to fill out 401k beneficiary designation form

How to fill out a 401k beneficiary designation form:

1. Obtain the form: Contact your 401k plan provider or employer to request a copy of the beneficiary designation form. They may provide it electronically or in paper format.
2. Fill in personal information: Provide your full legal name, date of birth, and Social Security number. Some forms may require additional contact details such as address and phone number.
3. Designate primary beneficiary: Indicate the person who will receive the 401k account balance upon your death. Write their full name, relationship to you, and their contact information. You can designate more than one primary beneficiary and specify the percentage or share they should receive.
4. Designate contingent beneficiary: In case your primary beneficiary predeceases you or is unable to receive the funds, designate a contingent beneficiary. Follow the same steps as for the primary beneficiary.
5. Specify allocation: If you have multiple primary beneficiaries, indicate how the funds should be distributed among them. You can assign a specific percentage or specify that they receive an equal share.
6. Consider special circumstances: Certain individuals or entities may have requirements for beneficiary designations. For example, if designating a trust or a minor as a beneficiary, additional documentation may be necessary.
7. Review and sign: Carefully review the information you have provided to ensure accuracy. Sign and date the form in the designated areas.
8. Submit the form: Submit the completed form to your 401k plan provider or employer as instructed. It may be submitted electronically, mailed, or hand-delivered.

Who needs a 401k beneficiary designation form:

1. Employees with a 401k plan: If you have a 401k retirement savings plan provided by your employer, you should consider completing a beneficiary designation form. This form ensures that your desired beneficiaries will receive the account balance in the event of your death.
2. Individuals with significant life changes: Significant life events such as marriage, divorce, birth, or death in the family may warrant updating your beneficiary designation form. This ensures that your assets are distributed according to your current wishes.
3. Account holders who want to revise their beneficiaries: If you have previously completed a beneficiary designation form and wish to make changes, you will need to fill out a new form with the updated information. It is important to ensure your beneficiary designations remain up to date.

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What is 401k beneficiary designation form?

401k beneficiary designation form is a document that allows the account owner to specify who will receive the funds in their 401k account upon their death.

Who is required to file 401k beneficiary designation form?

All individuals who have a 401k account are required to file a beneficiary designation form.

How to fill out 401k beneficiary designation form?

To fill out the form, the account owner needs to provide the name, address, relationship, and percentage of the funds that each beneficiary will receive.

What is the purpose of 401k beneficiary designation form?

The purpose of the form is to ensure that the account owner's assets are distributed according to their wishes in the event of their death.

What information must be reported on 401k beneficiary designation form?

The form requires the account owner to provide the name, address, date of birth, social security number, and relationship of each beneficiary.