Beneficiaries and Trusted Contacts

What is a TOD beneficiary?

A Transfer on Death (TOD) beneficiary designation allows you to name one or more individuals to directly inherit the assets in your account upon your passing.

What accounts are eligible for a TOD beneficiary?

TOD beneficiaries can be designated for IRAs, as well as for Individual Cash and Margin accounts held under an Omnibus arrangement. To verify your account's specific arrangement, please click here.

Who can I add as a beneficiary?

Beneficiaries must be legal adults (18 or older) with a valid U.S. address and a Tax Identification Number (TIN). For additional requirements and details on the information needed, please visit the Opening Your Account page.

How many beneficiaries can I have?

You can designate up to six primary beneficiaries and six contingent beneficiaries. You also have the flexibility to update, change, or remove these designations at any time.

How do I manage my beneficiary designations?

To add or modify your beneficiary designations, please navigate through the following steps:

App:

1. Tap Menu ➝ Settings.
2. Select Account Management.
3. Tap Beneficiary Information.

Lite Mode:

1. Tap the head and shoulders icon.
2. Within Account Features, select Account Management.
3. Tap Beneficiary Information.

Web:

1. Navigate to My Account.
2. Find your account and select Manage My Account.
3. Select View Details next to Beneficiary Information.

How do I revoke beneficiaries?

You can revoke a beneficiary directly from the Beneficiaries page on both the mobile app and website. Once on the page, select the Revoke button located in the top right corner. A confirmation pop-up will appear. Once confirmed, both Primary and Contingent beneficiaries will be removed from your account.

Why am I unable to add a beneficiary?

You may be unable to add beneficiaries if you are located in an ineligible region, such as Louisiana (LA) or Puerto Rico (PR). If you have any questions about your account’s eligibility, please contact Customer Support for assistance.

What is the difference between a primary and a contingent beneficiary?

Primary beneficiaries are first in line to receive the account's assets. Contingent beneficiaries are backups and will only inherit the assets if none of the primary beneficiaries are alive to claim them.

You must name at least one primary beneficiary before you can designate any contingent beneficiaries.

How can my beneficiaries claim my assets?

In the event of the account holder’s passing, the designated beneficiary(ies) must contact us to begin the asset transfer process. The following documents will be required:

• Letter of Authorization
• Identification from all beneficiaries,
• A copy of the account holder’s Death Certificate

Once these documents are submitted and verified, each beneficiary will need to open an account with us in order to receive the transferred assets.

What is a trusted contact?

A trusted contact is an individual you designate to be contacted by Webull in the event we are unable to reach you. Please note that trusted contacts are not authorized to discuss the account owner's account details.

How do I add a trusted contact?

App:

1. Navigate to Menu.
2. Under Shortcuts, select Settings.
3. Once in Settings, tap Account Management ➝ Modify Profile.
4. Tap Add Trusted Contact Person.

Lite Mode:

1. Tap the head and shoulders icon.
2. Within Account Features, select Account Management.
3. Tap Modify Profile.

Web:

1. Navigate to My Account.
2. Click Account Profile ➝ Add Trusted Contact Person.
3. Fill out the required fields and select Save.