Beneficiary Types. Eligible Designated Beneficiary Eligible designated beneficiary status is determined on the date of your death. The following types of designated beneficiaries generally qualify as an eligible designated beneficiary: your spouse, a disabled individual (as defined under Code section 72(m) and Regulations), a chronically ill individual as defined in Code section 401(a)(9)(E)(ii)(IV) and Regulations, your child who has not attained age 21, or an individual who was not born more than 10 years after your date of birth. For a disabled or chronically ill individual to be considered an eligible designated beneficiary documentation of the disability or chronic illness must be received by the Custodian no later than October 31 of the calendar year following your death. Such documentation requirements are also applicable to qualified see-through trusts whose beneficiaries include disabled and/or chronically ill individuals. If such documentation is not received by the applicable deadline, such disabled or chronically ill individuals are noneligible designated beneficiaries. Noneligible Designated Beneficiary Noneligible designated beneficiary is any individual who is not an eligible designated beneficiary. Nonperson Beneficiary Nonperson beneficiaries include nonqualified trusts (i.e., trusts that are not qualified see-through trusts), estates, charities, and other nonperson entities. Qualified See-Through Trust Beneficiary A qualified see-through trust beneficiary, as defined under Regulations, is a trust that is valid under state law (or would be valid but for the fact that there is no corpus), is irrevocable (or becomes irrevocable upon your death) and has identifiable beneficiaries. In addition, to be considered a qualified see-through trust, required trust documentation must be provided to the Custodian no later than October 31 of the year following the year of your death.
Beneficiary Types. When you choose beneficiaries, you must indicate whether each beneficiary is a primary or contingent beneficiary. Primary: Person(s) to receive the death benefits payable upon your death.
