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Annual IRA Beneficiary Review

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Are there any laws or regulations mandating an annual review of beneficiary designations for existing IRAs?

Not at the federal level. Some banks include language on the annual statement that says "Your primary beneficiary is xxxxxxxx and your contingent beneficiary is xxxxxxxxx. It's a good practice intended only to remind the participant that a beneficiary might need to be changed e.g. due to death, divorce or rudeness at the last family gathering.

First published on 2/21/05

First published on 02/21/2005

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