top of page

How to Change Your Beneficiary on Non-Qualified Retirement Accounts?

Updated: Jan 22

Changing the beneficiary on your checking, savings, or investment accounts is an important aspect of estate planning and asset management. It ensures that your assets are distributed according to your wishes in the event of your passing.

Gather Necessary Information - Before making any changes, ensure you have the following information ready:

  • Your bank account details (account numbers).

  • Personal information for the new beneficiary (full name, address, Social Security Number, and date of birth).

  • Your identification documents, as you might be required to verify your identity.

Complete the Required Forms or Online Registration and Send the Required Documents to Your Financial Institution.

Your bank will require completing a beneficiary designation form or online registration. Be thorough and accurate when completing the form to avoid any future complications.

Chase Bank

  • Fill Out The Agreement

  • Sign in Front of a Notary

  • Send it to Chase

    • Fax: 800-805-3909

    • Email: Instructions are here.

Wells Fargo

  • Fill Out The Agreement

  • Sign in Front of a Notary

  • Send it to Chase

    • Fax: 1-844-879-1439

Bank of America

  • Bank of America Beneficiary FAQ page.

  • The account owner can change or add POD beneficiaries by signing in to Online Banking

    • Select the account,

    • then select Manage next to Beneficiaries in the Features menu or on the Information & Services tab.

  • If you do not have an online account, call for Assistance: 800.432.1000

  • Your account or card number will be required

U.S. Bancorp

Speak to a banker.

  • Let the banker know if the beneficiary is on, or should be on multiple accounts. We'll ask for the last four digits of each account number impacted.  

Goldman Sachs

  • Transfer on Death (TOD) Beneficiary Form

    • Fill Out The Agreement

      • For assistance completing this form, please get in touch with a Representative at 1-800-526-7384, Monday through Friday, 7:00 a.m. to 5:30 p.m. Central Time.

    • REQUIRED: a signature from an SVP or medallion guarantee.

      • A signature validation program (SVP) stamp or medallion guarantee assures that the signature is genuine and not a forgery. Eligible guarantors include banks, brokerage firms, or other financial intermediaries that are members of an approved Medallion Guarantee Program.

    • Send it to Goldman Sachs Funds.

Capital One Financial

  • Change Beneficiary Online

    • Sign in to on your computer

    • Click on the account you would like to add a beneficiary to

    • Click “account services & settings

    • Click “manage beneficiaries

Capital One Bank,

Attn: Bank by Mail,

PO BOX 85123,

Richmond VA 23285

TD Ameritrade

Financial Institutions Who Do Not Provide Forms Online

Charles Schwab

Charles Schwab has provided a step-by-step video on how to change your beneficiaries right here.

A beneficiary can only be changed by visiting a branch. Find a branch here. 

PNC Financial Services

A beneficiary can only be changed by visiting a branch. Find a branch here. 

Edward Jones

You must contact your Edward Jones Advisor.

Additional Considerations

  • Be aware that certain accounts, like IRAs and other investment accounts, might have specific rules regarding beneficiary designations.

  • If you have a trust or more complex estate planning needs, consult an estate planning attorney to ensure that your beneficiary designations align with your overall estate plan.

Remember, while bank personnel can assist with changing a beneficiary, they cannot offer legal advice. If you have questions about how changing a beneficiary might affect your estate plan, consult an estate planning attorney for guidance tailored to your situation.

114 views0 comments


bottom of page