How to name beneficiaries and fund a trust at PIMCO

Subject to state law exceptions, TOD registration is generally available only for sole-owner accounts of natural persons, and for natural persons holding as joint tenants with right of survivorship or tenants by the entirety.¹

TOD registration is not available for trusts, corporations, associations, tenants in common, UGMA, UTMA or community property registrations.¹

If no beneficiary is provided or none survives, the proceeds are paid to the owner's estate.²

A new Change of Beneficiary Form revokes all prior designations.²

On a 403(b)(7) account, if no beneficiary is provided or none survives, the proceeds are paid to the owner's estate.²

A trust can be named as a TOD beneficiary. The trust documents are required at the time of death.¹

A trust can be named as beneficiary by attaching a copy of the trust agreement to the IRA form.²

A 403(b)(7) account is not registered to a trust, but a trust can be its named beneficiary.²

Each beneficiary is listed as primary or contingent with a share percentage. A beneficiary with no status marked is treated as primary.^{1, 2}

The owner chooses Per Capita or Lineal Descendants Per Stirpes. If no election is made, the designation defaults to Per Capita.^{1, 2}

A trust or estate beneficiary also defaults to Per Capita.²

On an individually established account, the spouse signs the Spousal Consent section of the TOD form when the owner names a primary beneficiary other than, or in addition to, the spouse.¹

A Medallion Signature Guarantee or Signature Validation Program stamp is required to change an existing PIMCO account to a TOD account, but not to change the beneficiary on an existing TOD account or to submit the TOD form with a new account application.¹

The Spousal Consent section, with a witness signature, is completed when the owner lives in a community or marital property state and names a primary beneficiary other than, or in addition to, the spouse.²

For investment accounts. Available to download.¹

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For investment accounts. Available to download.³

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For IRAs. Available to download.²

For IRAs. Available to download.⁴

If a TOD beneficiary does not survive the owner, the account is treated as belonging to the owner's estate. If the beneficiary survives the owner but dies before the shares are presented for transfer, the shares become part of the beneficiary's estate.¹

On the TOD form, a custodian is named for any beneficiary who is a minor.¹

Signing the TOD form indemnifies SS&C, PIMCO Funds and their affiliates against loss if a TOD transfer is found invalid. It lets them attach or debit the TOD beneficiary's account to enforce that indemnity.¹

A trust-registered account cannot carry a TOD registration, because TOD is limited to natural-person sole and joint registrations. Trust registration and TOD registration are alternatives.^{5, 1}

An IRA is not registered to a trust, but a trust can be its named beneficiary.²

A 403(b)(7) account is not registered to a trust, but a trust can be its named beneficiary.²

Completed by the trustees. Available to download.⁵

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Available to download.⁶

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Available to download.⁷

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Available to download.⁸

A trust is one of the registration types on PIMCO's account applications, so the usual path is opening a trust-registered fund account.^{5, 6, 7}

In Section 14 the trustees certify that they are the trustees, that they have provided a copy of the trust agreement, and that the trust is still in existence and none of the conditions for termination have occurred.⁵

The application asks whether the trust account is established under a Tax ID Number or a Social Security Number.⁵

Transfer agent that registers PIMCO Funds beneficiary and TOD designations⁹

Transfer agent for PIMCO exchange-traded funds⁹

Transfer agent for PIMCO closed-end funds⁹