An IRA beneficiary is the person or entity you designate to inherit the assets in your IRA after your death. Naming a beneficiary helps avoid probate and makes the distribution process smoother.
Who can I name as a beneficiary?
You can add a person (e.g., spouse, children, family members) or an entity like (e.g., trust) as your beneficiary.
You can also assign allocation to each of your beneficiaries. By default, the allocation will be split evenly across all the beneficiaries.
What should the beneficiary do if the IRA owner passes away?
The beneficiary should contact us at [email protected] to begin the inheritance process. They will be asked to provide documents, such as the death certificate, and our team will guide them step by step.
Can I open an inherited (beneficiary) IRA?
No, inherited or beneficiary IRAs are not currently supported on Crypto.com IRAs.
How do I set up a beneficiary for my IRAs?
Go to IRAs on the side menu
Tap the More button and select Manage beneficiaries.
Choose to add either a Primary or Contingent beneficiary.
Note: You must add at least one Primary beneficiary before you can add a Contingent one.Select the Beneficiary Type, either Individual or Trust
Individual: You will need their full legal name, date of birth, relationship to you, address, email, and phone number.
Trust: You will need the entity name, type, Tax ID, address, and contact details.
Fill in the details of the Beneficiary and click Add Beneficiary
Can I change or remove my beneficiaries?
Yes, you can update your beneficiary designations at any time:
To Edit: Tap on an existing beneficiary’s name in the Beneficiaries list to update their contact information or address.
To Adjust Allocation: Tap Adjust Allocation on the list page to change the percentage split between your beneficiaries.
To Remove: Tap the beneficiary you wish to remove and select Remove.
If you have any questions, please contact our Customer Support team anytime on the Crypto.com App menu > Support > Contact Support. Our IRA Customer Support live chat team is there on Monday to Friday 8am - 6pm ET.