How to name beneficiaries and fund a trust at Mid Atlantic Trust

Special Requirements

• Mid Atlantic Trust has NO branches and no walk-in service — there is nowhere to bring a form in person
• MATC is the custodian and holds no participant-level information for employer-sponsored plans: the beneficiary designation lives with the plan's recordkeeper or TPA
• For ERISA-covered plans, a married participant generally must name their spouse as primary beneficiary unless the spouse signs a written waiver, per the plan document
• A trust can be named as beneficiary of a retirement account held at MATC; an IRA or plan account can never be retitled INTO a trust
• MATC's Customer Identification Program notice states that a trust or other legal entity may have to provide its principal place of business, EIN, and trust agreement, and that an account "may be restricted or closed" if MATC cannot obtain and verify that information — so a trust named as beneficiary needs its EIN and trust document ready before the claim, not after
• An Auto Rollover IRA was opened BY a former plan rather than by the account holder, so there is frequently no beneficiary on file at all — check before assuming there is one