How to name beneficiaries and fund a trust at U.S. Bank
Covers 9 deposit, 4 retirement, 2 investment, and 3 lending accounts — beneficiaries must be updated in-branch
U.S. Bancorp Center, 800 Nicollet Mall, Minneapolis, MN 55402
U.S. Bancorp Center, 800 Nicollet Mall, Minneapolis, MN 55402
Deceased Account Specialists
Customer Care Unit, EP-DM-BCCU, 1200 Energy Park Drive, St. Paul, MN 55108
The key to protecting your U.S. Bank 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.
Each of U.S. Bank's 18 accounts has different rules for how it transfers at death. The sections below explain the options for each.
- Visit your local U.S. Bank branch with a valid government-issued ID
- Specify which accounts should have beneficiary designations
- Provide the beneficiary's name, date of birth, address, phone number, and SSN
- For trusts: provide entity name, address, phone number, and tax ID (EIN)
- A POD designation form will be prepared and mailed to you for signature
- Sign and return the form; allow 10 business days for processing
Required Documents
- Trust name, date established, and tax ID (EIN or SSN)
Special Requirements
- ITF (In Trust For) accounts available as an informal trust designation
- Trusts and businesses can be named as beneficiaries with entity name, address, phone, and tax ID
- Beneficiaries do not need signing authority and do not need to be present for designation
- A signed form is required to complete the designation; forms are mailed for signature
- To REMOVE a beneficiary, U.S. Bank requires a signed letter from you asking for the removal, naming the beneficiary, listing all account numbers impacted, and stating the effective date of removal (https://www.usbank.com/customer-service/knowledge-base/KB0069638.html)
- For IRA beneficiary designations, use the IRA Beneficiary Designation / Spousal Consent form through U.S. Bancorp Advisors (https://www.usbank.com/dam/en/documents/pdfs/wealth-management/usbi-ira-beneficiary-designation.pdf); if your spouse is not designated as primary beneficiary for at least half of the IRA, spousal consent in writing is required
Sources
Data sourced from U.S. Bank primary sources (22 pages reviewed). How we research.
Download these U.S. Bank instructions
Download instructions for the whole estateA printable PDF with the steps, required documents, and contact details — verified against U.S. Bank primary sources. Bring it to the branch or keep it beside the phone.
U.S. Bancorp Center, 800 Nicollet Mall, Minneapolis, MN 55402
U.S. Bancorp Center, 800 Nicollet Mall, Minneapolis, MN 55402
Deceased Account Specialists
Customer Care Unit, EP-DM-BCCU, 1200 Energy Park Drive, St. Paul, MN 55108
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