How to name beneficiaries and fund a trust at EagleBank
Beneficiaries are managed online, in branch or by phone. Trust paperwork is taken in branch or by phone
Estate planning for your EagleBank accounts starts with understanding how each one transfers at death. Beneficiary designations and trust retitling both bypass probate, but the right approach depends on the account type, your tax situation, and how much control you want over distributions.
With 13 product types, EagleBank 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 EagleBank
Add Primary Beneficiary information to your account and Add Contingent Beneficiary Information to your account.
- Full legal name
- Taxpayer identification number
- Date of birth
- Mailing address
- Relationship to the account holder, if you want it recorded (EagleBank treats this field as optional)
- 877.575.3245 for general questions on an existing account, Monday through Friday 8:30 AM - 8:00 PM ET
- 301.986.1800 for general questions, fraud reporting, and additional services such as safe deposit boxes, Monday through Friday 8:30 AM - 6:00 PM ET
Required Documents
- Beneficiary's first and last name (for each primary and contingent beneficiary)
- Beneficiary's taxpayer identification number (for each primary and contingent beneficiary). Required and validated. An ITIN is accepted
- Beneficiary's date of birth (for each primary and contingent beneficiary)
- Beneficiary's address (for each primary and contingent beneficiary)
- Beneficiary's relationship to the account holder (if you want it recorded). Optional
- Government-issued photo ID (at a branch)
- "State Requires Non-Spouse Beneficiary Document" (online, where the state may require it and the primary beneficiary is not the spouse)
- Certificate of Trust (the document type EagleBank's own onboarding platform names)
- Government-issued photo ID for all trustees, plus each trustee's taxpayer ID, date of birth, and address
- Trust tax identification number and its type
- Trust legal name, trust type, trust address, and the date the trust was established
- A banker will review the trust documentation and verify trustee authority
- Complete new signature cards under the trust name
- The bank will retitle your accounts to trust ownership
Required Documents
- Certificate of Trust. The only trust document type EagleBank's onboarding platform names
- Trust legal name
- Trust tax identification number and tax ID type. EagleBank records whether the number is an SSN or an EIN
- Trust type. Revocable or irrevocable
- Trust primary address
- Date the trust was established
- Government-issued photo ID (for each trustee)
- Trustee's taxpayer ID, date of birth and address (for each trustee). The platform marks all three required for anyone in the trustee or fiduciary role
- New signature cards under the trust name
- Full legal name
- Taxpayer identification number
- Date of birth
- Mailing address
- Relationship to the account holder, if you want it recorded (EagleBank treats this field as optional)
- 877.575.3245 for general questions on an existing account, Monday through Friday 8:30 AM - 8:00 PM ET
- 301.986.1800 for general questions, fraud reporting, and additional services such as safe deposit boxes, Monday through Friday 8:30 AM - 6:00 PM ET
Required Documents
- Beneficiary's first and last name (for each primary and contingent beneficiary)
- Beneficiary's taxpayer identification number (for each primary and contingent beneficiary). Required and validated. An ITIN is accepted
- Beneficiary's date of birth (for each primary and contingent beneficiary)
- Beneficiary's address (for each primary and contingent beneficiary)
- Beneficiary's relationship to the account holder (if you want it recorded). Optional
- Government-issued photo ID (at a branch)
- "State Requires Non-Spouse Beneficiary Document" (online, where the state may require it and the primary beneficiary is not the spouse)
What EagleBank says about beneficiaries and trusts
Each section is EagleBank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
- Payable-on-death account
Online, beneficiaries can be named only while opening a new Eagle High-Yield Savings Account or personal CD. A change to an existing account is taken at a branch.1
- IRA
IRA and retirement-plan beneficiary designations are separate from deposit-account designations; the platform treats plan beneficiaries as a distinct role.1
Who can be named1
- A trust, IRAs
A trust may be named as an IRA beneficiary.1
How many beneficiaries, and how shares are split
- All accounts
Up to four primary and four contingent beneficiaries can be named on an account. Contingent beneficiaries can be added only after primary beneficiaries are named.1
No percentage allocation is collected on deposit-account beneficiaries. Under the deposit agreement, surviving beneficiaries own the account "in equal shares, without right of survivorship."1, 2
- IRA
Percentage allocations are required for IRA and retirement-plan beneficiaries.1
What a designation takes to be effective
- All accounts
In states that may require it, the platform makes marital status and whether the spouse is primary beneficiary required, and asks for a "State Requires Non-Spouse Beneficiary Document" upload when the primary beneficiary is not the spouse.1
Beneficiary forms EagleBank issues2
What EagleBank's agreement says about beneficiaries3
- The institution's right to refuse a designation or an account title
EagleBank reserves the right to refuse some forms of ownership and beneficiary designations on any of its accounts. It makes no representation about their appropriateness or effect, except as they determine whom it pays the account funds.2
- What the owner keeps while living
Named beneficiaries have no rights to the account during the owner's lifetime. The owner may change beneficiaries, change account types, and withdraw all or part of the funds at any time.1
- Which state governs the account
Rights at death differ by jurisdiction: the deposit agreement carries separate ownership and rights-at-death provisions for the District of Columbia, Maryland, and Virginia, and they are not identical.2
State requirements EagleBank statesMaryland, Virginia
Which accounts a trust can hold1
- IRA
An IRA cannot be retitled to a trust.1
What EagleBank says about trust accounts3
- Online access
Trust accounts cannot be opened through the online portal, whose self-serve flow offers only the Eagle High-Yield Savings Account and personal CDs.1
- Whether a new account is opened
The deposit agreement's transfer clause says "This account may not be transferred or assigned without our prior written consent," so retitling an existing account into a trust is an act EagleBank must approve.2
- Review of the trust document
By merely opening a trust account, EagleBank is "not acting in the capacity of a trustee" and undertakes no obligation to monitor or enforce the terms of the trust. It is "not responsible for the actions of a fiduciary, including the misuse of funds."2
Not in EagleBank's published guidance1
- A beneficiary form to download
Sources
Data sourced from EagleBank primary sources (15 pages reviewed). How we research.
Download these EagleBank instructions
A printable PDF with the steps, required documents, and contact details, verified against EagleBank primary sources. Bring it to the branch or keep it beside the phone.
EagleBank estate support
Estate and Trust Services
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Toll-free
Mailing address
Website
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