New Restricted Beneficiary Payout forms
Some exciting changes on the Beneficiary Designation with Restricted Payout form #ET-2533:
- Simplified forms to select Qualified vs. Non-Qualified restrictions with the options tailored to those different account types
- Beneficiary Designation with Restricted Payout Qualified Contracts, form #ET-2533Q
- Beneficiary Designation with Restricted Payout Non-Qualified Contracts, form #ET-2533NQ
- Flexibility to fully or partially restrict the payout for each beneficiary
Stretch IRA Restrictions:
- The ability to release the restriction after a time determined by you and your client (subject to IRS rules)
A default to release the restriction after 10 years unless you and the owner determine a longer timeframe (it's not locked up forever!)
Both forms are available in the "New Business Forms" and "Service Forms" section of the website.