Navy Federal Payment On Death Form PDF Details

Are you considering Navy Federal for your estate planning needs? If so, then one of the first steps is to complete the Navy Federal Payment On Death (P.O.D.) form in order to establish a beneficiary designation and make sure that your loved ones are protected upon your passing. While it may seem like an intimidating process at first, understanding the basic rules and requirements surrounding Navy Federal's P.O.D. form will help pave the way towards a secure future for those you care most about after you’re gone. In this blog post, we’ll give you all of the information necessary to ensure that your plan is successfully completed with as few hiccups as possible!

QuestionAnswer
Form NameNavy Federal Payment On Death Form
Form Length3 pages
Fillable?No
Fillable fields0
Avg. time to fill out45 sec
Other namesnavy federal credit union survivor support, navy federal payable on death, nfcu pod form, navy federal payable on death form

Form Preview Example

Navy Federal®

Payable on Death (POD) Designation

Use this application to establish, update, or remove a POD designation and/or beneficiary(ies) on a savings, checking, MMSA, or certificate account(s). For this request to be effective, all account holders are required to sign this form.

A. Primary Member Information

Name: First

MI

Last

Suffix

Access No.

 

 

 

 

 

Navy Federal’s Address:

 

Navy Federal’s Phone Number: 1-888-842-6328

Navy Federal Credit Union

PO Box 3002, Merrifield, VA 22116-9887

Deposit Trust Fax Number: 703-206-3724

B. Joint Owner Information (Joint Owner must be the same Joint Owner on all account(s) being designated as POD on this form.)

Current Member?

☐ Yes (Complete name and Access Number only.)

☐ No (Complete entire section.)

 

 

 

 

 

 

 

 

 

 

 

Name: First

 

MI

Last

 

Suffix

Access No.

Social Security No. (SSN)

 

 

 

 

 

 

 

 

 

Current Home Address: Street

City

 

 

State

 

 

Zip Code

Date of Birth (MM/DD/YY)

Cannot Be a

 

 

 

 

 

 

 

 

 

Post Office Box

 

 

 

 

 

 

 

 

 

Driver’s License, Government ID, or State ID

 

 

Issue Date (MM/DD/YY)

 

 

Expiration Date (MM/DD/YY)

ID No.

 

State

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Name: First

 

MI

Last

 

Suffix

Access No.

Social Security No. (SSN)

 

 

 

 

 

 

 

 

 

Current Home Address: Street

City

 

 

State

 

 

Zip Code

Date of Birth (MM/DD/YY)

Cannot Be a

 

 

 

 

 

 

 

 

 

Post Office Box

 

 

 

 

 

 

 

 

 

Driver’s License, Government ID, or State ID

 

ID No.

State

Issue Date (MM/DD/YY)

Expiration Date (MM/DD/YY)

C. Designated Accounts (Choose one.) I understand that a separate change of beneficiary form (NFCU 584) must be completed to effect a change of beneficiary(ies) for any IRA accounts.

☐Add POD designation to all existing individual account(s) and any future individual account(s) established after this dated application, with the same beneficiary(ies), unless otherwise specifically indicated in writing received by Navy Federal.

☐Add POD designation to all existing joint account(s) and any future joint account(s) established after this dated application, with the same beneficiary(ies) and same joint owner(s), unless otherwise specifically indicated in writing received by Navy Federal.

☐Add POD designation to existing account(s) selected below, with the same beneficiary(ies) and same joint owner(s) (if applicable). Does not include future accounts. (List account numbers that apply.)

Savings Account

 

Certificate(s):

Checking Account

MMSA

Jumbo MMSA

☐Remove all existing POD designations, with the same beneficiary(ies) and same joint owner(s) (if applicable). Form must be signed by all account holders, as applicable, to be effective.

☐Remove only existing POD designations selected below, with the same beneficiary(ies) and same joint owner(s) (if applicable). Form must be signed by all account holders, as applicable, to be effective. (List account numbers that apply.)

Savings Account

 

Certificate(s):

Checking Account

MMSA

Jumbo MMSA

D. Designate Beneficiary(ies) (Choose one.)

☐Assign beneficiary(ies)–I designate the individual(s) or entity named below as my beneficiary(ies).

☐Replace beneficiary(ies)–I designate the individual(s) or entity named below as my new beneficiary(ies), and hereby revoke all prior beneficiary(ies) designations.

☐Add beneficiary(ies)–I designate the individual(s) or entity named below as my beneficiary(ies). This supplements, and does not replace, the beneficiary(ies) previously designated. (When adding beneficiaries, if the share percentage of a previously designated beneficiary(ies) changes, restate all beneficiaries and the corresponding share percentage.) If no percentages are indicated or if there is a discrepancy so that the total percentage does not equal 100%, then the surviving beneficiaries shall receive equal distributions.

☐Remove beneficiary(ies)–I remove the individual(s) or entity named below as my beneficiary(ies). Form must be signed by all account holders, as applicable, to be effective.

Continue on next page.

*250*

© 2016 Navy Federal NFCU 250 (7-16)

Page 1

E. Beneficiary Information-Complete Part I or Part II. (This section does not apply to or affect any type of IRA; Form NFCU 584 must be completed to add or change beneficiary(ies) of any IRA account.)

Part I—If completing Part One (I), skip Part Two (II).

If a Legal Trust is named as beneficiary, this designation shall supersede any individually named beneficiary(ies), and payment will be made in full to the Legal Trust.

Legal Trust Name:

Part II (A) Primary Beneficiary (Complete Part II only if you did not complete Part I.)

Upon the death of a Primary Beneficiary, the deceased Primary Beneficiary’s percentage share will be shared equally among any surviving Primary Beneficiaries.

Primary Beneficiary(ies) Name(s) (if any)

Address

Date of Birth

(MM/DD/YY)

Relationship

Social Security No.

Percentage (must

(SSN) or ITIN

equal 100%)

 

 

Part II (B) Contingent Beneficiary (Optional)

Distributions will be made to Contingent Beneficiary(ies), only if Primary Beneficiary(ies) is/are deceased. (Upon the death of a Contingent Beneficiary, the deceased Contingent Beneficiary’s percentage share will be shared equally among any surviving Contingent Beneficiaries). If a Legal Trust is named as Primary Beneficiary, Contingent Beneficiary(ies) shall not receive proceeds unless the Legal Trust was properly revoked.

Contingent Beneficiary(ies)

Name(s) (if any)

Address

Date of Birth

(MM/DD/YY)

Relationship

Social Security No.

Percentage (must

(SSN) or ITIN

equal 100%)

 

 

F. Survivorship Designation and Disclosure Agreement

I/We hereby request a Payable on Death (POD) designation for the beneficiary (ies) listed for the account(s) designated in this application, and I/we agree to the terms, designations, and survivorship designation on this form.

It is understood and agreed that subject to the credit union’s bylaws and applicable state and federal laws, rules, and regulations, all sums paid into the account(s) may be pledged to the credit union as security for a loan by either me, the joint owner, or both, if applicable; and further that all account funds may be withdrawn in whole or in part by any account holder.

I acknowledge that membership at Navy Federal Credit Union comes with certain ongoing responsibilities. By signing this document, my joint owner(s), if any, and I agree to abide by the properly disclosed terms and conditions of all accounts or services that I/we receive at Navy Federal. These terms and conditions are disclosed in accordance with applicable state and federal laws and are provided in the disclosure and agreement forms. If “Joint Account with Survivorship” is selected, then upon the death of either account holder, Navy Federal reserves the right to re-title the POD designated account(s) to the surviving account holder. In addition, all parties to this account acknowledge

that the rights of the surviving account holder shall not be abridged and that all surviving account holders shall retain full use and authority over the funds in the account.

Upon the death of all the account holders, if the designation is “With Survivorship,” or upon the death of the primary member if the designation is “No Survivorship,” funds in the account(s) shall be made payable and distributed to the surviving beneficiary, or if more than one beneficiary, to the surviving beneficiaries equally unless a percentage designation is indicated. If a member’s Legal Trust is the named beneficiary, this designation shall supersede any individually named beneficiary (ies), and payment will be made in full to the Legal Trust.

I/We understand and agree that I/we am/are responsible for properly designating the respective percentage shares for the respective beneficiaries so that the total percentage equals 100%. If there is a discrepancy in the percentage shares and the total does not equal 100%, then I/we agree that the designation shall automatically be determined for the surviving beneficiaries to share the distribution equally.

Continue on next page.

Page 2

I/We have read and agree to the terms and conditions of the Important Disclosure Booklet (NFCU 606). Property may be transferred to the appropriate state if there has been no activity within the time period specified by state law.

I/We understand that Navy Federal reserves the right to enforce a statutory lien against any savings and dividends I/we have individually or jointly on deposit at Navy Federal if I/we fail to satisfy any financial obligation I/we have with Navy Federal. Navy Federal may enforce this right without prior notice.

I/We understand and agree that I/we must notify the credit union if any new account should not be included under this POD designation if I/we have requested that all existing and any future account(s) be included in the POD designation.

The beneficiary designation above shall not apply to any type of Individual Retirement Arrangement (IRA) that I have now or in the future, including savings, money market savings, and certificate IRA accounts. I understand that a separate change of beneficiary form (NFCU 584) must be completed to effect a change of beneficiary(ies) for any IRA account.

Beneficiary(ies) may be changed at any time by submitting a new POD Designation form (NFCU 250), signed by all account holders, as applicable, to be effective.

The survivorship designation on this form shall supersede the designation on all accounts included with this form.

Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account, including joint owners and authorized signers. What this means for you: When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents. It may be necessary for Navy Federal to restrict account access or delay the approval of loans pending further verification.

☐ Joint Account with Survivorship

☐ Joint Account – No Survivorship

(On the death of an owner, the deceased’s ownership interest in the account passes to the surviving account owner.)

(On the death of an owner, the ownership of the account funds passes to the beneficiary(ies) as designated, regardless of the survival of the joint owner.)

The survivorship designation on my Payable on Death (POD) account applies to all other POD accounts with the same joint owner, unless specifically designated otherwise for a particular account in writing. If a survivorship option has not been indicated on this application, the account(s) will be designated as Joint Account with Survivorship.

G. Required Signatures

Signature of Member (Required)

▸

Signature of Joint Owner (As applicable)

▸

Signature of Joint Owner (As applicable)

▸

Date (MM/DD/YY)

Date (MM/DD/YY)

Date (MM/DD/YY)

Page 3

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1. Begin completing the navy federal beneficial owner form with a selection of necessary fields. Consider all the information you need and ensure not a single thing overlooked!

navy federal payable on death writing process clarified (part 1)

2. Soon after performing this step, go on to the next step and complete the essential particulars in these blanks - beneficiaryies unless otherwise, Add POD designation to all, and same joint owners unless, Add POD designation to existing, accounts List account numbers that, Savings Account, Checking Account, MMSA, Jumbo MMSA, Certificates, Remove all existing POD, applicable to be effective, Remove only existing POD, account holders as applicable to, and Savings Account.

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3. The following section is related to If a Legal Trust is named as, Legal Trust Name, Part II A Primary Beneficiary, Upon the death of a Primary, Primary Beneficiaryies, Names if any, Address, Date of Birth MMDDYY, Relationship, Social Security No, Percentage must, SSN or ITIN, equal, and Part II B Contingent Beneficiary - type in each of these fields.

Completing part 3 of navy federal payable on death

4. The following part requires your information in the following parts: Contingent Beneficiaryies, Names if any, Address, Date of Birth MMDDYY, Relationship, Social Security No, Percentage must, SSN or ITIN, equal, F Survivorship Designation and, IWe hereby request a Payable on, that the rights of the surviving, It is understood and agreed that, I acknowledge that membership at, and Upon the death of all the account. Make certain to type in all requested information to go forward.

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Many people often make mistakes when filling in equal in this part. Don't forget to re-examine everything you enter here.

5. The pdf should be wrapped up by dealing with this segment. Below there is a comprehensive listing of blanks that need correct details for your form usage to be accomplished: Joint Account with Survivorship, Joint Account No Survivorship, On the death of an owner the, On the death of an owner the, The survivorship designation on my, G Required Signatures Signature of, Signature of Joint Owner As, Signature of Joint Owner As, Date MMDDYY, Date MMDDYY, and Date MMDDYY.

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