How to name beneficiaries and fund a trust at tastytrade

A TOD designation is available on domestic individual cash and margin accounts. International accounts are not eligible to submit a TOD form.¹

Individual and joint brokerage accounts have no online beneficiary entry. The TOD form is sent to the accounts team.¹

TOD beneficiary designations are not available to residents in all jurisdictions.²

A TOD designation is available on domestic joint with rights of survivorship (JWTROS) accounts.¹

Beneficiaries on a Traditional, Roth or SEP IRA can be named online under My Profile > Beneficiaries, or on the paper IRA Beneficiary Designation Form.³

A trust can be named as an IRA beneficiary. The Beneficiaries page directs you to the IRA Beneficiary Designation Form to do so.³

A trust can be named as a TOD beneficiary. The TOD form asks for the name of the trust, the names of all trustees and the date the trust was established.²

Primary beneficiaries are listed only in the primary section and contingent beneficiaries only in the contingent section. Shares must total 100%; fractional percentages and dollar amounts are not accepted.^{2, 4}

Online, one or more IRA beneficiaries are listed with a percentage share for each.³

The TOD form is signed and dated. The spouse must also sign if the spouse or account holder resides in a community property or marital property state and the spouse is not an account holder or named as the sole primary beneficiary.²

The IRA form is signed and dated. Spousal consent may be required, for example in a community property or marital property state, and the form carries a spousal consent section.⁴

For investment accounts. Available to download.²

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For IRAs. Available to download.⁴

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TOD accounts are subject to receipt and acceptance by Apex Clearing Corporation. No TOD designation is effected until Apex receives and accepts the form.²

Apex reserves the right to refuse, accept or renew the TOD Beneficiary Designation Form and may terminate it at any time.²

A beneficiary designation may not be revoked or changed by will, codicil, trust document or other testamentary document. Changes require a new form.¹

A new IRA Beneficiary Designation Form deletes and replaces all previous IRA designations.⁴

An individual account cannot be converted to a joint account.⁵

Trust is one of tastytrade's two entity account categories, the other being corporate. A trust account can be opened for a revocable or an irrevocable trust.⁶

Assets move from an individual or joint account to a trust account on the paper Internal Transfer Form. Transfers between different account types cannot be submitted online.⁵

Cryptocurrency positions cannot be internally transferred.⁷

Completed by every current trustee. Available to download.⁸

Available to download.⁹

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A trust account is opened through the entity account application, and assets are then moved into it from another account.¹⁰

The Certificate of Trust and Investment Powers runs to tastytrade and Apex Clearing Corporation as the clearing firm, and every current trustee signs it.⁸