How Do I Change the Beneficiaries or Transfer on Death Provision on My Account?
For existing retirement accounts, use the Beneficiary Designation form to make changes to your named beneficiaries. Complete and submit the form according to the instructions.
Transfer on Death (TOD) Registration may be completed by using the Transfer on Death Registration form. Transfer on Death is a form of ownership that enables individual or joint tenant account owner(s) to designate a beneficiary to “automatically” become the new account owner upon the death of the current owner(s). Although a TOD account in no way avoids inheritance taxes, it does allow the assets in an account to be transferred to the named beneficiaries without going through probate.
The signature of the account owner(s) must have a Medallion Signature Guarantee if adding or changing the beneficiary on an existing account.
If you need help with account beneficiary provisions, please contact your financial professional or call us at 1.800.222.5852.
To obtain a prospectus, download online or call Sales Support at 1.800.787.1621
While this communication may be used to promote or market a transaction or an idea that is discussed in the publication, it is intended to provide general information about the subject matter covered and is provided with the understanding that The Principal® is not rendering legal, accounting, or tax advice. It is not a marketed opinion and may not be used to avoid penalties under the Internal Revenue Code. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements. For more information about our funds, including their full names, please see the Principal Funds, Inc. prospectus or call Sales Support at 1.800.787.1621.
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