12 CFR 330.10
(b) Required intention and naming of beneficiaries.
(1) The required intention in paragraph (a) of this section that upon the owner's death the funds shall belong to one or more beneficiaries must be manifested in the “title†of the account using commonly accepted terms such as, but not limited to, “in trust for,†“as trustee for,†“payable-on-death to,†or any acronym therefor. For purposes of this requirement, “title†includes the electronic deposit account records of the institution. (For example, the FDIC would recognize an account as a revocable trust account even if the title of the account signature card does not designate the account as a revocable trust account as long as the institution's electronic deposit account records identify (through a code or otherwise) the account as a revocable trust account.) The settlor of a revocable trust shall be presumed to own the funds deposited into the account.
(2) For informal revocable trust accounts, the beneficiaries must be specifically named in the deposit account records of the insured depository institution.
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