How to name beneficiaries and fund a trust at IBC Bank
Beneficiaries are managed in branch. Trust paperwork is taken in branch
Preparing your IBC Bank accounts for estate transfer involves two primary strategies: designating beneficiaries on individual accounts and, where supported, retitling accounts into a revocable living trust. Both approaches bypass probate, but they work differently depending on the account type.
With 16 product types, IBC Bank 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 IBC Bank
IRA beneficiary designation form (for IRAs).
- Full legal name
- Date of birth
- Social Security number
- Relationship to account holder
- Percentage allocation if naming multiple beneficiaries
Required Documents
- Government-issued photo ID (at the branch)
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the account holder
- Percentage allocation (when naming multiple beneficiaries)
- Trust agreement or Certification of Trust
- Trust tax identification number (EIN or SSN for revocable trusts)
Required Documents
- Trust agreement or Certification of Trust
- Government-issued photo ID (for each trustee)
- Trust tax identification number. EIN or SSN for revocable trusts
- Full legal name
- Date of birth
- Social Security number
- Relationship to account holder
- Percentage allocation if naming multiple beneficiaries
Required Documents
- Government-issued photo ID (at the branch)
- Beneficiary's full legal name
- Beneficiary's date of birth
- Beneficiary's Social Security number
- Beneficiary's relationship to the account holder
- Percentage allocation (when naming multiple beneficiaries)
What IBC Bank says about beneficiaries and trusts
Each section is IBC Bank's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary2
Who can be named1
- A trust, IRAs
A trust can be named as the IRA beneficiary.1
How many beneficiaries, and how shares are split
- All accounts
When naming multiple beneficiaries, the owner provides a percentage allocation.1
What a designation takes to be effective
- All accounts
The beneficiary does not need to be present.1
Beneficiary forms IBC Bank issues1
- IRA beneficiary designation form
For IRAs. Completed by the account owner, at the branch. Provided at a branch.1
What IBC Bank's agreement says about beneficiaries2
Which accounts a trust can hold1
- IRA
An IRA cannot be titled to a trust.1
What IBC Bank says about trust accounts1
- Fees
A trust service annual fee with a $3,000 minimum may apply for trust administration services.2
Not in IBC Bank's published guidance2
- A beneficiary form to download
- An online way to name a beneficiary
Sources
Data sourced from IBC Bank primary sources (32 pages reviewed). How we research.
Download these IBC Bank instructions
A printable PDF with the steps, required documents, and contact details, verified against IBC Bank primary sources. Bring it to the branch or keep it beside the phone.
IBC Bank estate support
IBC Investment Services (Estate Tax Planning, securities and advisory services through LPL Financial)
Phone
Mailing address
Website
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