Get Boa Beneficiary Distribution Election Form

Filling out the Bank of America Beneficiary Distribution Election Form online can be done efficiently with clear guidance. This step-by-step guide will help you navigate through each section of the form to ensure accurate completion for the distribution of IRA proceeds.

Follow the steps to fill out the Beneficiary Distribution Election Form online.

1. Press the ‘Get Form’ button to access the Beneficiary Distribution Election Form and open it for online completion.
2. In the Deceased Depositor Information section, enter the following details: Depositor's Name, Social Security Number, Date of Birth, Plan Number, Date of Death, and select the Plan Type (Traditional IRA or Roth IRA).
3. In the Beneficiary Information section, provide your full name, Social Security Number, daytime telephone number, Date of Birth, relationship to the depositor, physical address, source of income, mailing address (if different), country of citizenship, country of residency, and occupation (if applicable). Complete non-U.S. citizen information regarding days present in the U.S. for the current and previous two years, if relevant.
4. Proceed to the Distribution Instructions section. Carefully select only one payment option from the provided choices: Lump Sum Distribution, Life Expectancy Payments, Specific Amount, Specific Term, or 5-Year Payout. If you are a spouse, review additional options available specifically for you.
5. Next, complete the RMD Payment Instructions. Specify whether you would like the RMD distributed monthly, quarterly, semi-annually, or annually and provide a Specific Start Date for distribution.
6. Fill out the Tax Withholding Election section by indicating your preferences for Federal, State, and Local income tax withholding based on your applicable residence.
7. Lastly, read through the Beneficiary’s Acknowledgment section, sign and date the form to confirm your understanding and acceptance of the information provided. Ensure all required sections are completed before submitting.

Complete your BoA Beneficiary Distribution Election Form online today to ensure timely processing and your rightful access to the IRA proceeds.