Important: If NOT married, CLICK HERE for instructions.
If married follow the below instructions.
Complete Pages 1, 2 and 3
- Complete Section 1:
IMPORTANT READ: The form only needs to be notarized if you are married and name someone other than your spouse as the primary beneficiary. Otherwise, a notary is not required.
- If you are married and your spouse will be the primary beneficiary of the entire vested account balance, include your spouse’s name and information in the primary beneficiary box in Section 3 and check Option B.
- List secondary beneficiary (ies) who will inherit the account in the event of the primary beneficiary’s death.
- Check Option B; date the form and enter city and state; the trustee (you) sign where it reads “participant” and print your name. The witness is OPTIONAL (not required) but the witness can be anyone other than you.
- The form only needs to be notarized if you are married and name someone other than your spouse as the primary beneficiary. Otherwise, a notary is not required.
Video Slides: How To Designate a Beneficiary for Your Solo 401k Plan
Naming My Living Trust as Beneficiary QUESTION:
Both Participants QUESTION:
Per Stirpes QUESTION:
1) I understand that you wish your spouse to inherit your Solo 401k in the event that you predecease your spouse but in the event that your spouse predeceases you, you wish that your children inherit your Solo 401k funds.
Given this understanding, please (i) list your spouse as the primary beneficiary and don’t check the “per stirpes” box; and (ii) list your children as the secondary beneficiaries as applicable.
If you check the “per stirpes” box next to a secondary beneficiary, your Solo 401k assets (or the applicable share of such assets) will pass to the descendent of your secondary beneficiary in the event that secondary beneficiary (and of course primary beneficiary) do not survive you (i.e. they both die before you do). See discussion on the beneficiary election form.
2) For a married person, as long as the spouse is the sole primary beneficiary there is no need for the last part of the beneficiary election form (which provides for a notary, etc.) to be completed.
