How to name beneficiaries and fund a trust at Northern Trust

Northern Funds TOD registration is available only for sole owner accounts of natural persons and joint tenants with rights of survivorship, not for trusts, corporations, tenants in common or community property registrations.¹

TOD registration does not apply to an IRA. A Northern Funds IRA uses the IRA Beneficiary Designation form.¹

On the IRA Beneficiary Designation form, if no beneficiary is designated, the estate is the beneficiary of the IRA.²

Northern Funds TOD beneficiaries may be natural persons only.¹

A custodian under the Uniform Transfers to Minors Act may be named as a TOD beneficiary; a custodian under the Uniform Gifts to Minors Act may not.¹

All registered account owners complete the TOD Registration form, and their signatures must be Medallion guaranteed. The guarantee is not required when the form is submitted with a New Account Application.¹

A resident of a community property state who names a beneficiary other than a spouse must obtain the spouse's consent on the TOD form.¹

For investment accounts. Completed by all registered account owners. Available to download.¹

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For IRAs. Available to download.²

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A Northern Funds TOD registration can be changed or revoked with clear instructions to the Northern Funds Center, Medallion signature guaranteed for all registered owners.¹

Under the deposit agreement, the account owners can change POD beneficiaries on a Northern Trust deposit account at any time.³

Under the deposit agreement, a POD account is not part of any owner's estate and does not pass by will or intestacy.³

Under the deposit agreement, a Northern Trust deposit account may be opened and maintained by a person or persons named as a trustee under a written trust agreement.³

A trust-registered Northern Funds account cannot carry TOD registration.¹

For investment accounts. Available to download.⁴

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For investment accounts. Available to download.⁵

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Northern Trust's retail deposit accounts require a $25,000 combined minimum initial deposit in all personal accounts.³

Mutual-fund accounts held directly with Northern Funds, including TOD registrations and IRA beneficiary forms^{1, 2}

Northern Trust serving as trustee: Professional Trustee Services and Delaware and Nevada trust solutions^{6, 7}