How to name beneficiaries and fund a trust at Matrix Trust

Special Requirements

• Matrix Trust has NO branches and no walk-in service — everything is done by phone, email, fax, mail, or the online IRA portal
• Employer-sponsored plan beneficiary designations are held by the plan recordkeeper or administrator, not by Matrix Trust — it does not maintain participant-level records for those plans
• A Safe Harbor IRA was opened by a third party (the former plan), so Matrix Trust must complete its account-opening and customer-identification process — application, customer identification form, and identity documents — before it accepts instructions on the account
• Trusts can be named as beneficiary of an IRA held at Matrix Trust; an IRA can never be retitled INTO a trust
• A signature guarantee (Medallion Signature Guarantee stamp) is required on any distribution of $25,000 or more
• If no beneficiary is designated, an automatic-rollover IRA follows the default order in the Matrix Trust automatic rollover agreement: surviving spouse, then children in equal shares by right of representation, then surviving parents, then the estate
• A Roth 401(k) or Roth 403(b) balance rolls into a SEPARATE Roth IRA — a decedent can hold two Matrix Trust IRAs from one job, each needing its own designation and its own claim