IRABeneficiaries

  • Specify Beneficiaries for a retirement account.

  • User must specify at least one beneficiary (maximum of six)

  • Fully Disclosed Client (Retirement)

  • Advisor Client (Retirement)

  • IB-CAN (Canada) 
    • All: Beneficiary/ Successor must be Canadian citizen and Resident.
      • Age of majority is 19 for British Columbia, New- Brunswick, Newfoundland, Nova Scotia.
      • All other provinces, age of majority is 18.
    • TSFA: All provinces except for Quebec must designate either successor OR beneficiary.
      • Successor can be either 'Spouse' or 'Common Law Partner'
      • Quebec: Error will be triggered if Successor or Beneficiary is listed.

    • RRSP/SRRSP: All provinces except for Quebec must designate a beneficiary.

  • Error will be thrown if:

    • PrimaryBeneficiary and PrimaryBeneficiaryEntity are provided.

    • ContingentBeneficiary is provided and PrimaryBeneficiaryEntity and/or PrimaryBeneficiaryEntity is not provided.

    • Percentage > 100

    • Percentage < 100

XSD

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<xsd:complexType name="IRABeneficiaries" use="Required" minOccurs="1" maxOccurs="1" />
 <xsd:attribute name="spouse_primary_beneficary" type="Boolean" minOccurs="1" maxOccurs="1" />

Parameters

Name

Type

Description

spouse_primary_beneficiary

true

false

Indicate if the spouse is the primary beneficiary.

Note: If MaritalStatus="M" and spouse_primary_beneficiary="false" , the Spousal Consent Form (form_no="4091") will be required for approval. Spousal Consent Form can be submitted to IBKR using 'DocumentSubmission ' via /update endpoint.

Download Spousal Consent Form

successor

true

false

 Indicate if Successor. Only applicable for Canadian TSFA accounts.
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Retirement
<IRABeneficiaries spouse_primary_beneficiary="false">
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Canada TSFA
<IRABeneficiaries successor="true">

 

PrimaryBeneficiary

PrimaryBeneficiaryEntity

ContingentBeneficiary

ContingentBeneficiaryEntity

Decendent