Can I list a Trust Account as a Beneficiary for my 401k?
Problem
I want to list a trust account as beneficiary for my 401k and cannot do this with the form online. It says "contact plan administrator". Help please or is this not possible?
Solution
Yes, you can list a Trust as a beneficiary of your 401k.
I have attached a beneficiary designation form for you to complete. Instead of entering an SSN, you will need to enter in the EIN of the trust account. Please note that it is required to have spousal consent if you are married to list someone else as a beneficiary and that part of the form will also need to be completed and signed.
Once this document is completed and signed with a wet signature, please scan it back to us so we can get this into ADP for processing. (if the employee is single, a notarization is not required)
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