How to Fill Out and Submit the Wells Fargo Beneficiary Designation Form

The Wells Fargo beneficiary designation form names who receives the money in your account when you die, and it bypasses probate entirely. Whatever you put on the form controls where the funds go, even if your will says something different.¹ Wells Fargo uses three different forms depending on the account, so the first thing to do is match the form to the account you have.

Which Form Matches Your Account

Picking the wrong form is the most common early mistake and will send the paperwork right back to you. Wells Fargo splits beneficiary designations into three categories:

Payable on Death (POD) for checking accounts, savings accounts, and certificates of deposit. The named beneficiary receives whatever balance remains after you die.²
Transfer on Death (TOD) for non-retirement brokerage accounts held through Wells Fargo Advisors or WellsTrade. Securities and cash balances move directly to the beneficiary without probate.²
IRA Beneficiary Designation for Traditional and Roth IRAs. These forms carry extra requirements because federal tax rules govern how inherited retirement assets have to be distributed.³

Brokerage and IRA forms are downloadable PDFs on the WellsTrade applications and forms page.⁴ POD designations on standard bank accounts are usually handled through the bank’s internal system rather than a standalone paper form, so you’ll need to visit a branch or call Wells Fargo directly to set one up.

Information You’ll Need for Each Beneficiary

Every version of the form asks for the same core details about each person you name: full legal name, Social Security number, date of birth, and current address. Small errors here cause real problems later. A transposed digit in a Social Security number or a maiden name used instead of a married name can delay the payout for weeks or trigger a dispute among family members after your death.

Primary and Contingent Beneficiaries

The form separates beneficiaries into two tiers. Primary beneficiaries are first in line. Contingent beneficiaries inherit only if every primary beneficiary has already died. If you name your spouse as primary and your two adult children as contingent, the children receive nothing unless your spouse predeceases you.

You assign each beneficiary a percentage share, and the percentages within each tier must add up to exactly 100%. Three primary beneficiaries at 40%, 30%, and 25% will get the form rejected. This trips people up most often when they revise an existing designation and forget to redistribute shares after removing someone.

Per Stirpes vs. Standard Designation on IRAs

For IRA accounts held through Wells Fargo Advisors, you can choose between a standard designation and a per stirpes designation. Under a standard designation, if a beneficiary dies before you, their share is redistributed among your surviving beneficiaries. Under per stirpes, a deceased beneficiary’s share passes down to their own descendants instead.⁵

Picture two children named as equal beneficiaries. One dies before you, leaving two grandchildren. With a standard designation, your surviving child gets 100%. With per stirpes, your surviving child still gets 50%, and the two grandchildren split the other 50%. If you want assets to flow down family lines rather than sideways to siblings, per stirpes is the right choice.⁵

Spousal Consent in Community Property States

If you’re married and live in a community property state, your spouse has a legal interest in assets acquired during the marriage. To name anyone other than your spouse as the primary beneficiary of an IRA or brokerage account, your spouse has to sign a consent section on the form, and that signature must be notarized.⁶

This requirement comes from state community property law, not from ERISA. ERISA’s spousal consent rules apply to employer-sponsored plans like 401(k)s and pensions, but IRAs fall outside ERISA’s reach. The practical result is the same. If you skip the spousal consent in a community property state, your non-spouse beneficiary designation can be challenged after your death. The notarization applies only to the spouse’s signature, not to yours on the rest of the form. Most Wells Fargo branches have a notary available, or you can use any licensed notary.

Naming a Trust, a Minor, or a Charity

You’re not limited to adult individuals. Wells Fargo lets you name trusts, minor children, and charitable organizations, though each adds steps.

Naming a trust requires the full legal name of the trust, the date it was established, and the name of the trustee. Vague descriptions like “my family trust” without the formal name and date create ambiguity that delays distribution. Confirm the trust document itself is current and that the trustee listed on the beneficiary form matches the current trustee of the trust.

Funds can’t be released directly to anyone under 18. For a minor, you can name a custodian under your state’s Uniform Transfers to Minors Act (UTMA) to manage the inherited assets until the child reaches the age of majority.⁷ Without a named custodian, a court may need to appoint a guardian for the funds, adding delay and expense. For larger amounts, naming a trust as beneficiary usually gives you more control over how and when the child receives the money than a UTMA custodial arrangement.

For a charity, use its full legal name and tax identification number.

How to Submit the Form

For WellsTrade brokerage and IRA accounts, mail the completed form to:

Wells Fargo Advisors
Attention: MAC N9160-01P
PO Box 77046
Minneapolis, MN 55480-9902

You can also fax it to 1-844-879-1439. If you need help while filling it out, call 1-800-872-3377.⁴

POD designations on standard bank accounts work differently. There is usually no separate paper form to mail; you set it up through your online banking portal or in person at a branch.

After Wells Fargo processes the form, check that the updated beneficiary information shows up on your next account statement. If you don’t see the change reflected, follow up right away rather than assuming it was recorded. A form that was received but not processed, because of a missing signature, a percentage total that doesn’t add up, or a spousal consent issue, sits in limbo and won’t protect your intended beneficiaries.

When to Update the Form

A beneficiary designation isn’t something you fill out once and forget. Wells Fargo Advisors specifically warns that a divorce does not automatically remove an ex-spouse from your beneficiary designation. If your ex is still named on the form when you die, they may receive the funds regardless of what your will says.¹

Review and update your form after any major life change: marriage, divorce, the birth or adoption of a child, or the death of a named beneficiary. If a primary beneficiary dies and you don’t update the form, their share either passes to the surviving primary beneficiaries (under a standard designation) or to their descendants (under per stirpes), which may or may not be what you want. Even without a life event, revisiting the form every few years is worth the fifteen minutes.

What Happens If You Leave It Blank

If you die without any beneficiary designation on your Wells Fargo account, the funds become part of your estate and have to go through probate. Someone will need to obtain a court-issued document appointing an executor or administrator, or in smaller estates, file a small estate affidavit under your state’s rules.² Probate can take months and involves court costs, attorney fees, and public disclosure of your estate’s value. A completed beneficiary designation form avoids all of that.

1
Wells Fargo Advisors. 10 Beneficiary Designation Tips
2
Wells Fargo. Estate Care Center
3
Office of the Law Revision Counsel. 26 USC 408 – Individual Retirement Accounts
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Wells Fargo. WellsTrade Applications and Forms
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Wells Fargo Advisors. Five Beneficiary Planning Strategies
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Wells Fargo Advisors. Transfer on Death Kit
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Wells Fargo Advisors. About Custodial Accounts – UTMA and UGMA