How to name beneficiaries and fund a trust at PenFed
Beneficiaries are managed online or by mail. Trust paperwork is taken by mail
Preparing your PenFed accounts for estate transfer involves two key steps: designating beneficiaries on each account and, where appropriate, retitling accounts into a trust. Because PenFed is a membership-based institution, trust retitling must maintain the membership eligibility requirement. Accounts with Payable on Death designations or trust ownership bypass probate entirely.
Across 10 product types, PenFed accounts vary in how they transfer at death. The sections below walk through Payable on Death (POD) designations, trust funding options, and which products support each method.
Beneficiary form at PenFed
Signature Card (Form 13), Form 220 (Premium Online Savings), Form 151 (Access America Checking and Free Checking), Form 400 (Money Market Savings), Form 771 (Money Market Certificate) (for certificate of deposits) and IRA Designation of Beneficiaries (Form 732) (for IRAs).
Open the form →- Regular Share: Signature Card (Form 13)
- Premium Online Savings: Form 220
- Access America Checking and Free Checking: Form 151
- Money Market Savings: Form 400
- Money Market Certificate: Form 771
- IRA: IRA Designation of Beneficiaries (Form 732)
- Secure upload at home.penfed.org/s/document-upload
- Fax to 800-278-2212 or 800-557-7328
- Mail to Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
Required Documents
- Names of the beneficiaries (in PenFed Online)
- The form for the account, listing every beneficiary, hand-signed and dated (to change or remove beneficiaries, or to add more than PenFed Online allows)
- Membership/Account Application (Form 20-RLT), signed by the grantor(s) and trustee(s)
- Or, in its place, the Application for Premium Online Savings Account (Form 220-RLT)
- Declaration of Trust (Form 74) identifying the grantor(s), trustee(s), successor trustee(s), and beneficiaries
- All primary trustees sign Form 74
- Application and Agreement for a Revocable Living Trust (Form 77), signed by all primary trustees
- Membership/Account Application (Form 20-IRT) or Form 220-IRT
- Declaration of Trust (Form 74)
- Application and Agreement for Irrevocable Trust (Form 43), signed by all primary trustees
- If a grantor or trustee has died and the Certificate of Trust does not list a date of death, include a death certificate for that person
- Checking: Form 151-RLT or 151-IRT
- Premium Online Savings: Form 220-RLT or 220-IRT
- Money Market Savings: Form 400-RLT or 400-IRT
- A new certificate: Form 688-TRUST
- Forms 151-RLT and 400-RLT each have a box to re-title an existing account into the trust
- Secure upload at home.penfed.org/s/document-upload
- Fax to 800-278-2212 or 800-557-7328
- Mail to Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
Required Documents
- Declaration of Trust (Form 74). Required for every trust account
- Application and Agreement for a Revocable Living Trust (Form 77) (for a revocable trust)
- Application and Agreement for Irrevocable Trust (Form 43) (for an irrevocable trust)
- Membership/Account Application (Form 20-RLT or 20-IRT), or Form 220-RLT or 220-IRT
- Trust agreement or Certificate of Trust (for a revocable trust with its own Tax Identification Number, and for an irrevocable trust). Either is taken. A Certificate of Trust shows the trust name, the grantors, the trustees, trustee signatures witnessed and notarized, and, if applicable, a personal SSN in place of a trust TIN
- IRS Assignment of TIN Verification Letter (for a revocable trust with its own Tax Identification Number, and for an irrevocable trust)
- PenFed membership (for every grantor and trustee)
- Death certificate (for an irrevocable trust, if a grantor or trustee has died and the Certificate of Trust does not list a date of death)
- Amendment to Share Certificate Agreement (Form 771) (to re-title an existing Money Market Certificate)
- Regular Share: Signature Card (Form 13)
- Premium Online Savings: Form 220
- Access America Checking and Free Checking: Form 151
- Money Market Savings: Form 400
- Money Market Certificate: Form 771
- IRA: IRA Designation of Beneficiaries (Form 732)
- Secure upload at home.penfed.org/s/document-upload
- Fax to 800-278-2212 or 800-557-7328
- Mail to Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
Required Documents
- Names of the beneficiaries (in PenFed Online)
- The form for the account, listing every beneficiary, hand-signed and dated (to change or remove beneficiaries, or to add more than PenFed Online allows)
What PenFed says about beneficiaries and trusts
Each section is PenFed's own statement, with the document it comes from numbered under Sources.
Which accounts take a beneficiary1
Who can be named3
- A person
An individual can be named as a beneficiary.2
- A trust
A revocable or irrevocable living trust can be named as a beneficiary.2
A trust can be named as beneficiary of the primary share account on Form 13.3
- A charity or nonprofit
Any entity with a tax identification number, such as a charity, can be named as a beneficiary.2
- A trust, IRAs
A trust can be named as beneficiary of an IRA on Form 732.1
What a designation takes to be effective
Beneficiary forms PenFed issues6
- Signature Card (Form 13)
Available to download.3
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 220 (Premium Online Savings)
Available to download.5
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 151 (Access America Checking and Free Checking)
Available to download.6
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 400 (Money Market Savings)
Available to download.7
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 771 (Money Market Certificate)
For certificate of deposits. Available to download.8
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- IRA Designation of Beneficiaries (Form 732)
For IRAs. Available to download.1
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
What PenFed's agreement says about beneficiaries2
- Changing or revoking a designation
A new form overrides all previous beneficiary designations, so it lists every beneficiary, including any added before.4
- Powers of attorney over a living owner's account
PenFed does not accept a faxed power of attorney. The original or a certified copy is mailed with a Statement of Indemnity (Form L-12) signed before a notary and the Power of Attorney Agent's Affidavit (Form 172) witnessed by a notary.2
Which accounts a trust can hold3
Trust account forms PenFed issues10
- Declaration of Trust (Form 74)
Completed by all primary trustees. Available to download.9
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Application and Agreement for a Revocable Living Trust (Form 77)
Completed by all primary trustees. Available to download.10
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Application and Agreement for Irrevocable Trust (Form 43)
Completed by all primary trustees. Available to download.11
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Membership/Account Application (Form 20-RLT)
Completed by the grantor(s) and trustee(s). Available to download.12
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Application for Premium Online Savings Account (Form 220-RLT)
Completed by the grantor(s) and trustee(s). Available to download.13
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Membership/Account Application (Form 20-IRT)
Available to download.14
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 151-RLT (checking)
Available to download.15
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 400-RLT (Money Market Savings)
Available to download.16
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Form 688-TRUST (a new certificate)
For certificate of deposits. Available to download.17
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
- Amendment to Share Certificate Agreement (Form 771)
For certificate of deposits. Available to download.8
Return to
Fax: 1-800-278-2212
Mailing address: Pentagon Federal Credit Union, Box 247009, Omaha, NE 68124-7009 (courier: 13220 Fort Street, Omaha, NE 68164)
What PenFed says about trust accounts7
- Membership
Every grantor and trustee must be a PenFed member before a trust-titled account is opened. Beneficiaries do not have to become members.18
- The trust's tax identification number
A revocable living trust with its own Tax Identification Number gets its own PenFed membership. A trust under the grantor's Social Security number gets a secondary account in the trust's name, and the primary share account and membership stay in the grantor's name.4
- Joint accounts
If an account to be re-titled has a joint owner who is not a primary trustee, that owner has to relinquish ownership first. PenFed provides joint-removal paperwork on request.4
- Review of the trust document
PenFed is to be told immediately of changes to the trust agreement and given a revised Declaration of Trust. Changes take effect on the accounts only after PenFed receives and acknowledges it.9
- Checks and cards on a trust account
ATM and debit cards are available on a revocable living trust account when the grantor is also a trustee.4
On irrevocable trust accounts, IRA products, loans, ATM cards and debit cards are not available.4
- Who signs for the trust
On irrevocable trust accounts, only primary trustees have access to the funds.4
- Successor trustees
Under Form 77, when the last surviving grantor dies, PenFed distributes the balance according to the instructions of the trustee(s) or successor trustee(s). The accounts are not maintained more than four years after the death of the last surviving trustee.10
Sources18
- 1.IRA Designation of Beneficiaries (Form 732)
- 2.How to Add or Remove Beneficiaries
- 3.Signature Card (Form 13)
- 4.PenFed forms
- 5.Form 220
- 6.Form 151
- 7.Form 400
- 8.Amendment to Share Certificate Agreement (Form 771)
- 9.Declaration of Trust (Form 74)
- 10.Application and Agreement for a Revocable Living Trust (Form 77)
- 11.Application and Agreement for Irrevocable Trust (Form 43)
- 12.Membership/Account Application (Form 20-RLT)
- 13.Application for Premium Online Savings Account (Form 220-RLT)
- 14.Membership/Account Application (Form 20-IRT)
- 15.Form 151-RLT
- 16.Form 400-RLT
- 17.Form 688-TRUST
- 18.How to Establish Membership
Sources
Data sourced from PenFed primary sources (33 pages reviewed). How we research.
Download these PenFed instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against PenFed primary sources. Bring it to the branch or keep it beside the phone.
PenFed estate support
General Member Service
Phone
US Main (General Member Service)
Checking and Savings general contact
International direct dial
Lost or stolen debit card / unauthorized transactions
Mortgage and home equity information and applications
Fax (U.S. 2)
Fax
Hours
Mailing address
Website
Estate requests go through general customer service.
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