Form RS5127 Designation of Beneficiary With Contingent Beneficiaries - New York

What Is Form RS5127?

This is a legal form that was released by the Office of the New York State Comptroller - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

FAQ

Q: What is Form RS5127?
A: Form RS5127 is a Designation of Beneficiary With Contingent Beneficiaries form for residents of New York.

Q: What is the purpose of Form RS5127?
A: The purpose of Form RS5127 is to designate beneficiaries and contingent beneficiaries for certain benefits in case of the policyholder's death.

Q: Who should use Form RS5127?
A: Residents of New York who want to designate beneficiaries and contingent beneficiaries for their benefits should use Form RS5127.

Q: What are contingent beneficiaries?
A: Contingent beneficiaries are secondary beneficiaries who receive the benefits if the primary beneficiaries have predeceased the policyholder.

Q: Is Form RS5127 legally binding?
A: Yes, Form RS5127 is a legally binding document when properly completed and filed.

Q: Can I change my beneficiaries after submitting Form RS5127?
A: Yes, you can change your beneficiaries by submitting a new Form RS5127 with updated information.

Q: Do I need to notarize Form RS5127?
A: No, Form RS5127 does not require notarization.

Q: What happens if I don't designate beneficiaries using Form RS5127?
A: If you don't designate beneficiaries using Form RS5127, the benefits may be paid according to the default provisions of the benefit plan or policy.

Q: Is there a fee to file Form RS5127?
A: No, there is no fee to file Form RS5127.