How to name beneficiaries and fund a trust at Citibank
Beneficiaries are managed in branch, by phone or by mail. Trust paperwork is taken in branch or by phone
There are two ways to keep your Citibank accounts out of probate: adding beneficiary designations and retitling eligible accounts into a revocable living trust. Which approach works best depends on the account type and your overall estate plan.
With 23 product types, Citibank offers a range of transfer options. Some accounts support Payable on Death (POD) designations, others can be retitled into a trust, and some require probate if no beneficiary is designated. The sections below break down each step.
Beneficiary form at Citibank
IRA Change Information Form (RPS509, rev. 08/26) (for IRAs).
Open the form →- Each beneficiary's full legal name, date of birth, relationship, and Social Security number
- Tick the plan type(s) you are updating: Traditional IRA, Roth IRA or SEP-IRA
- Enter each beneficiary's name, address, relationship, date of birth, Social Security number and share percentage; every field is required
Required Documents
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's relationship to the owner
- Beneficiary's Social Security number
- Beneficiary's address and share percentage (on the IRA Change Information Form)
- Government-issued photo ID (at a branch, with all account owners)
- Account number (when calling)
- IRA Change Information Form (RPS509), completed (for a bank IRA)
- Trust's Tax ID Number and a copy of the trust instrument (to name a trust as IRA beneficiary)
- The trust agreement, or a notarized Certificate of Trust
- Government-issued photo ID for every trustee who will sign on the account
- The trust's Taxpayer Identification Number
- Trust legal name and the date it was established
- State of establishment and the trust's Taxpayer Identification Number
- Full names of every trustee who will sign
Required Documents
- Trust agreement or Certificate of Trust. Either is taken. Citi's estate glossary defines a Certificate of Trust as a notarized document naming the trust, its date, whether it is revocable, and its trustees and successor trustees
- Government-issued photo ID (for every trustee who will sign on the account)
- Trust Taxpayer Identification Number. The agreement notes that "in some cases, the trust must have its own Taxpayer Identification Number (TIN) issued by the Internal Revenue Service"
- Any additional information and documents Citi requests. The agreement states Citi "requires additional information and documents to maintain Special Title Accounts"
- Each beneficiary's full legal name, date of birth, relationship, and Social Security number
- Tick the plan type(s) you are updating: Traditional IRA, Roth IRA or SEP-IRA
- Enter each beneficiary's name, address, relationship, date of birth, Social Security number and share percentage; every field is required
Required Documents
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's relationship to the owner
- Beneficiary's Social Security number
- Beneficiary's address and share percentage (on the IRA Change Information Form)
- Government-issued photo ID (at a branch, with all account owners)
- Account number (when calling)
- IRA Change Information Form (RPS509), completed (for a bank IRA)
- Trust's Tax ID Number and a copy of the trust instrument (to name a trust as IRA beneficiary)
- The trust agreement, or a notarized Certificate of Trust
- Government-issued photo ID for every trustee who will sign on the account
- The trust's Taxpayer Identification Number
- Trust legal name and the date it was established
- State of establishment and the trust's Taxpayer Identification Number
- Full names of every trustee who will sign
Required Documents
- Trust agreement or Certificate of Trust. Either is taken. Citi's estate glossary defines a Certificate of Trust as a notarized document naming the trust, its date, whether it is revocable, and its trustees and successor trustees
- Government-issued photo ID (for every trustee who will sign on the account)
- Trust Taxpayer Identification Number. The agreement notes that "in some cases, the trust must have its own Taxpayer Identification Number (TIN) issued by the Internal Revenue Service"
- Any additional information and documents Citi requests. The agreement states Citi "requires additional information and documents to maintain Special Title Accounts"
- Each beneficiary's full legal name, date of birth, relationship, and Social Security number
- Tick the plan type(s) you are updating: Traditional IRA, Roth IRA or SEP-IRA
- Enter each beneficiary's name, address, relationship, date of birth, Social Security number and share percentage; every field is required
Required Documents
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's relationship to the owner
- Beneficiary's Social Security number
- Beneficiary's address and share percentage (on the IRA Change Information Form)
- Government-issued photo ID (at a branch, with all account owners)
- Account number (when calling)
- IRA Change Information Form (RPS509), completed (for a bank IRA)
- Trust's Tax ID Number and a copy of the trust instrument (to name a trust as IRA beneficiary)
What Citibank says about beneficiaries and trusts
Each section is Citibank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
- Payable-on-death account
Citi calls a payable-on-death (Totten trust, in-trust-for) registration an "Informal Trust". It is available on savings accounts and CDs only: "Informal Trusts are not permitted for checking accounts."1
- IRA
One designation covers the entire Citibank retirement plan: "You cannot name a beneficiary for a particular Citibank retirement plan investment account."2
Citibank stops accepting contributions to its Traditional IRA, Roth IRA, SEP, SEP-IRA and Keogh plans on October 26, 2026. Existing designations still control who inherits.2
Who can be named1
- A trust, IRAs
A trust can be named as an IRA beneficiary. Funds cannot be disbursed from the plan until Retirement Plan Services has the trust's Tax ID Number and a copy of the trust instrument.2
How many beneficiaries, and how shares are split
- Payable-on-death account
Multiple Informal Trust beneficiaries share equally, and the registration records no percentage split: "If more than one beneficiary is named in our records, they will share equally in the account proceeds."1
- IRA
The IRA form takes a share percentage for each beneficiary. If the percentages are left blank, multiple primary beneficiaries split the proceeds equally among the survivors.2
The form prints three primary and three contingent lines. More beneficiaries are named on a separate signed and dated sheet giving plan type, name, address, relationship, SSN and date of birth for each.2
What a designation takes to be effective
- Payable-on-death account
Every account owner must sign Citibank's documentation naming or changing an Informal Trust beneficiary.1
Beneficiary forms Citibank issues1
- IRA Change Information Form (RPS509, rev. 08/26)
For IRAs. Available to download.2
Return to
Mailing address: Retirement Plan Services, PO Box 790012, St. Louis, MO 63179
What Citibank's agreement says about beneficiaries4
- When a designation takes effect
A designation is effective when Citibank receives the signed documentation.2
- Changing or revoking a designation
The IRA form states that "by naming a beneficiary on this form, you cancel any earlier designation you may have made with respect to the assets in that retirement plan."2
- Divorce
On the IRA form "the name of the person will govern, not the relationship," so a designation reading "spouse, Jane Doe" still pays Jane Doe after a divorce.2
- No beneficiary survives
If no IRA beneficiary is named, or none survives, the balance is paid to the estate.2
What Citibank says about trust accounts4
- Whether a new account is opened
Citi calls a trust account a "Formal Trust Account", one of its Special Title accounts, a family that also covers estates, guardianships, conservatorships, custodianships, representative payees, power-of-attorney agency accounts and Court Ordered Money Market (COMMA) accounts.1
- Who signs for the trust
On Special Title accounts Citi acts on the fiduciary's instructions.1
- Certificates moved into a trust
A new Special Title CD is priced off the Rate Sheet provided when the application was submitted, not the rate on the day it funds.1
- Which state governs the account
The "Governing State" assigned to the account controls the law applied to it. For a customer whose residential address is outside CA, CT, FL, IL, MD, NV, NJ, NY, TX, VA or DC, the Governing State is South Dakota.1
Accounts handled elsewhere1
- Citi Personal Wealth Management
Transfer-on-death and beneficiary changes on investment accounts held at Citigroup Global Markets Inc.5
Phone: 1-800-846-5200
Not in Citibank's published guidance3
- A beneficiary form to download, for deposit accounts
- Certificate of Trust form
- Processing time for trust account opening
Sources5
- 1.Consumer Deposit Account Agreement
- 2.IRA Change Information Form (RPS509)
- 3.Citi® Estate Services
- 4.Citi savings account
- 5.Citi Personal Wealth Management
Sources
Data sourced from Citibank primary sources (14 pages reviewed). How we research.
Download these Citibank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Citibank primary sources. Bring it to the branch or keep it beside the phone.
Citibank estate support
Estate Servicing Unit (Citi® Estate Services)
Phone
Bank IRA (Citi Retirement Plan Services)
Mortgage / Home Equity estate line
Personal Loans / Lines of Credit
Investment Accounts estate line
Wealth Management
Fax
Hours
Mailing address
Website
Estate planning articles
Learn how to protect your Citibank accounts and other assets with trusts, beneficiary designations, and estate planning documents.
Is this your situation?
Get a complete guide for your specific circumstances.
New Baby or Adoption
Your family is growing. Your protection should too. Guardian nominations, trusts for minors, beneficiary updates, and the documents new parents need in place.
Learn more
Marriage
What married couples need in place: one joint trust or two, wills, beneficiary updates, and the spousal rights your state grants you automatically.
Learn more
New Home
How to put your house in a revocable trust: the deed you record, what it does to your mortgage and property taxes, and when a TOD deed is simpler.
Learn more
Retirement
Retirement changes your financial picture. Healthcare directives, beneficiary reviews, long-term care planning, and protecting what you've built.
Learn moreForms for Planning Your Estate
Free forms for planning your estate: a will, living trust, pour-over will, both powers of attorney, living will, and TOD deed.
Revocable Living Trust
Create a revocable living trust to avoid probate, protect privacy, and control asset distribution.
Last Will and Testament
Name your heirs, guardians, and final wishes. Free for every state.
Transfer on Death Deed
Transfer real property to a beneficiary upon your death without probate. Available in 34 states and the District of Columbia.
Tools for Planning Your Estate
Free tools for planning your estate: what a will or trust costs, whether you need a trust or TOD deed, and how documents are signed.
How Much Does a Revocable Living Trust Cost?
Compare revocable living trust costs across providers including online services and attorneys.
How Does SimplyTrust Compare to LegalZoom, Trust & Will, and Other Services?
Compare what it costs to make a trust official across SimplyTrust, LegalZoom, Trust & Will, Rocket Lawyer, and Quicken WillMaker.
Do I Need a Revocable Trust?
Find out if a revocable trust makes sense based on your state, estate value, and family situation.
Trust or Will: Which Costs Less?
Compare the cost of probate vs a trust for your state and estate value.
What Does Estate Planning Actually Cost?
Compare costs across estate planning providers including online services and attorneys.
How Much Life Insurance Do I Need?
Calculate your life insurance needs based on income, debts, and family situation.
