How to name beneficiaries and fund a trust at First Citizens
Covers 7 deposit, 4 retirement, 1 investment, and 3 lending accounts — beneficiaries must be updated in-branch
Customer Care Center (FC Direct)
First Citizens Bank, FC Direct/Customer Engagement Center DAC 54, P.O. Box 27131, Raleigh, NC 27611-7131
Trust & Fiduciary Services / Wealth Management
Death Claims / Estate Settlement
First Citizens Bank, FC Direct/Customer Engagement Center DAC 54, P.O. Box 27131, Raleigh, NC 27611-7131
There are two ways to keep your First Citizens 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 15 product types, First Citizens 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.
- Full legal name, date of birth, SSN, and relationship.
- Percentage allocations for primary and contingent beneficiaries.
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- Deposit accounts use the POD / statutory revocable trust account structure described in the First Citizens Deposit Account Agreement (form 31-933409, https://www.firstcitizens.com/content/dam/firstcitizens/pdfs/hosted/personal/deposit-account-agreement.pdf).
- The Agreement notes that in some states First Citizens may restrict POD payees to natural persons and/or limited entities such as trusts or non-profit organizations -- confirm your intended beneficiary type when you complete the designation.
- Account owner keeps total ownership and control during their lifetime, including the right to change beneficiaries; POD does not create joint ownership.
- On the death of the last surviving owner the balance belongs to the surviving POD beneficiaries, who under the Agreement hold it as joint tenants WITHOUT right of survivorship unless state law requires otherwise.
- With multiple beneficiaries, First Citizens may at its option pay in equal shares by separate checks, or issue one check payable to all beneficiaries and deliver it to any one of them.
- If the requirements for a valid POD/revocable trust account are not satisfied, the Agreement lets First Citizens treat the account as a plain individual/joint account and pay the funds to the last surviving owner's estate.
- Joint deposit accounts opened online may only be opened "with survivorship"; branch- and phone-opened joint accounts can be "with," "without," or "no" survivorship, and a "without survivorship" account passes the decedent's share to their estate.
- IRA beneficiaries are designated on a separate IRA beneficiary designation form, not the deposit POD form.
- Named beneficiaries override directions in a will.
- Beneficiaries need a certified death certificate and government-issued ID to claim funds.
- First Citizens does not offer online POD or IRA beneficiary designation through Digital Banking; designations are made in a branch, by phone with a mailed form, or by mail (Customer Care Center 888-323-4732).
Sources
Data sourced from First Citizens primary sources (25 pages reviewed). How we research.
Download these First Citizens instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against First Citizens primary sources. Bring it to the branch or keep it beside the phone.
Customer Care Center (FC Direct)
First Citizens Bank, FC Direct/Customer Engagement Center DAC 54, P.O. Box 27131, Raleigh, NC 27611-7131
Trust & Fiduciary Services / Wealth Management
Death Claims / Estate Settlement
First Citizens Bank, FC Direct/Customer Engagement Center DAC 54, P.O. Box 27131, Raleigh, NC 27611-7131
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