How to name beneficiaries and fund a trust at Truist
Covers 7 deposit, 2 investment, 2 retirement, and 2 lending accounts — beneficiaries must be updated in-branch
Truist, 214 N Tryon St, Charlotte, NC 28202
Survivor Relations
Truist Bank, VA-RVW-5113, P.O. Box 26150, Richmond, VA 23260
The key to protecting your Truist accounts is making sure each one has a transfer mechanism in place—either a beneficiary designation or trust ownership. Without one, the account goes through probate, adding time, cost, and court involvement for your family.
Truist has 13 accounts with different estate transfer rules. Here is how beneficiary designations, trust ownership, and probate apply to each one.
- Visit a Truist branch with a valid government-issued photo ID
- Request to add or update POD/ITF beneficiary designations on deposit accounts
- Complete the signature card with beneficiary details
- Provide each beneficiary's full legal name, date of birth, and Social Security number
- For trusts as beneficiary: provide trust name, date established, and EIN
- Understand the default split before you sign: the Truist Bank Services Agreement pays multiple POD/ITF beneficiaries in EQUAL, undivided shares. A request for unequal amounts or percentages is treated only as a request that Truist may honor in its sole discretion
- If you need a guaranteed unequal split, do not rely on the signature card -- direct that asset through your trust or will instead
- Sign the updated signature card -- a beneficiary change is effective ONLY upon a change to the signature card, and Truist may rely solely on the signature card to determine the proper beneficiary
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- A beneficiary change is effective ONLY upon a change to the signature card, and Truist may rely solely on the signature card to determine the proper beneficiary
- Multiple POD/ITF beneficiaries take in EQUAL, undivided shares. A request for unequal amounts or percentages is treated by Truist only as a request it may honor in its sole discretion -- use a trust or will for a guaranteed unequal split
- Truist uses POD and ITF (In Trust For) interchangeably; its records may also describe the same designation as "as trustee for", "ATF", "transfer on death", "TOD", or "Totten Trust"
- A POD/ITF account is governed by the law of the state in which the account was opened
- If no beneficiary survives the last owner, the funds are payable to the last owner's estate and go through probate
- Trusts can be named as beneficiaries with trust name, date established, and EIN
- During the owner's lifetime, any one owner retains full control -- including closing the account, changing the account type or ownership, and adding or removing beneficiaries
- Named beneficiaries override your will
- Asset Management Account holders: a TOD designation made with Truist Investment Services takes precedence over a conflicting POD instruction given to the Bank. Keep the two designations aligned
Sources
Data sourced from Truist primary sources (22 pages reviewed). How we research.
Download these Truist instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against Truist primary sources. Bring it to the branch or keep it beside the phone.
Truist, 214 N Tryon St, Charlotte, NC 28202
Survivor Relations
Truist Bank, VA-RVW-5113, P.O. Box 26150, Richmond, VA 23260
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