Account HelpCheck or Change Account Beneficiaries
A beneficiary is someone you name to receive your account assets when you die. It is important to name a beneficiary and to keep the beneficiary records for your accounts current. While there is no requirement that you provide this information or update it regularly, not naming a beneficiary can create a delay in providing loved ones access to this money in the event of your death. If you have no named beneficiary and no will, your account assets would be settled through your estate, which can take months, perhaps years.
For IRA accounts, if you are married and live in a state or territory that recognizes marital or community property (Arizona, California, Idaho, Louisiana, Nevada, New Mexico, Puerto Rico, Texas, Washington or Wisconsin), you may need to obtain your spouse’s consent if you have not designated your spouse as primary beneficiary for at least half of your account. See your lawyer or other tax professional for additional information and advice.
For Individual Retirement and Education Savings Accounts
How to name IRA and ESA beneficiaries: You name beneficiaries on your account application. You may list primary and secondary beneficiaries. Your assets will go to the primary beneficiaries first, but if there are no surviving primary beneficiaries, the assets go to your secondary beneficiaries.
How to change IRA and ESA beneficiaries: Complete an IRA and ESA Beneficiary Designation Form. Your new beneficiary selection replaces any previous designations.
How to review your current IRA and ESA beneficiaries: You can get current beneficiary listings for your accounts:
By phone: Give us a call at 1-800-258-3030 on weekdays between 8:30 a.m. and 5:00 p.m. Eastern Time and one of our friendly client service associates will give you this information.
Online (for IRA accounts): Log in to your account 24 hours a day, seven days a week. Select an account from the Portfolio Overview page, then select Beneficiary Information from the Account page.
For Regular Taxable Accounts
How to name beneficiaries: For individual accounts and accounts registered to joint tenants with right of survivorship, you name beneficiaries by establishing transfer-on-death instructions. You may do this when you open your account or add these instructions to an existing account by completing a Transfer-on-Death Beneficiary Designation Form. You may list primary and secondary beneficiaries. Your assets will go to the primary beneficiaries first, but if there are no surviving primary beneficiaries, the assets go to your secondary beneficiaries.
How to change beneficiaries: Complete a Transfer-on-Death Beneficiary Designation Form. Your new beneficiary selection replaces any previous designations. Your signature on this form will need to be guaranteed.
How to review your current beneficiaries: Give us a call at 1-800-258-3030 on weekdays between 8:30 a.m. and 5:00 p.m. Eastern Time and one of our friendly client service associates will give you this information.
