PrimaryBeneficiary

Application > Accounts > Account > IRABeneficiaries > PrimaryBeneficiary

  • Specify individual beneficiaries for a retirement account.

  • Fully Disclosed Client (Retirement)

  • Advisor Client (Retirement)

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

  • 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:element name="PrimaryBeneficiary" use="Required for Individual Beneficiaries" minOccurs="0" maxOccurs="6" />
<xsd:attribute name="same_mail_address" type="Boolean" use="Required" />
 <xsd:attribute name="external_id" type="String" use="Required" />
<xsd:sequence>
<xsd:element name="Name" use="Required for Individual Beneficiaries" minOccurs="0" maxOccurs="1" />
 <xsd:attribute name="salutiation" type="salutation" use="Optional" />
 <xsd:attribute name="first" type="String" use="Required" />
 <xsd:attribute name="last" type="String" use="Required" />
<xsd:element name="DOB" type="YYYY-MM-DD" use="Required for Individual Beneficiaries" minOccurs="0" maxOccurs="1" />
<xsd:element name="Residence" use="Required" minOccurs="0" maxOccurs="1" />
 <xsd:attribute name="country" type="country" use="Required" />
 <xsd:attribute name="state" type="state" use="Required" />
 <xsd:attribute name="city" type="String" use="Required" />
 <xsd:attribute name="street_1" type="String" use="Required" />
 <xsd:attribute name="postal_code" type="String" use="Required" />
<xsd:element name="Ownership" use="Required" minOccurs="0" maxOccurs="1" />
 <xsd:attribute name="percentage" type="Non-Negative Integer Value" use="Required" />
<xsd:element name="Relationship" use="Required" type="Relationship" minOccurs="0" maxOccurs="1" />
 <xsd:attribute name="percentage" type="Non-Negative Integer" use="Required" />
<xsd:element name="Identification" use="Required for Individual Beneficiaries" minOccurs="0" maxOccurs="1" />
 <xsd:attribute name="citizenship" type="citizenship" use="Required" />
 <xsd:attribute name="SSN type="Integer- 9 characters" use="Optional" />
</xsd:sequence>

Parameters

Name

Type

Description

same_mail_address

true

false

 

Indicate if the mailing address of the beneficiary is different from the residential address. 

salutation

Mr.

Mrs.

Ms.

Dr.

Mx.

Ind.

 

first

String; Max Characters = 50

First name of the beneficiary.

last

String; Max Characters = 50

Last name of the beneficiary

DOB

YYYY-MM-DD

DOB of the primary beneficiary.

country

3 Digit ISO Code

Country which the beneficiary resides.

state

3166-2 ISO Code

State which the beneficiary resides.

city

String; Max Characters = 100

City which the beneficiary resides.

street_1

String; Max Characters = 200

Street which the beneficiary resides.

postal_code

String; Max Characters = 10

 

percentage

Non-Negative Integer Value

Total percentage must = 100

citizenship

3 Digit ISO Code

Citizenship of the beneficiary.

  • United States IRA accounts, beneficiary must be a U.S. citizen.

  • Canada Retirement accounts, beneficiary must be a Canadian citizen.

SSN

SIN

Numeric

  • must be 9 characters

  • No spaces and no dashes.

SSN or SIN of the beneficiary

  • United States IRA accounts, SSN is required.

  • Canada Retirement accounts, SIN is required.

Relationship

Brother

Daughter

Father

Husband

Mother

Other

Sister

Son

Spouse

Wife

Relationship of the beneficiary to the applicant.

external_id

String

This must also be unique per individual. (ie. The external_id of the accountholder cannot be the same external_id of the beneficiary)

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Single Beneficiary
    <PrimaryBeneficiary external_id="primarybeneficiary1" same_mail_address="true">
        <Name salutation="Mr." last="Smith" first="John"/>
        <DOB>1946-12-01</DOB>
        <Residence street_1="500 Lane Street" state="CT" postal_code="06514" country="United States" city="Hamden"/>
        <Identification citizenship="United States" SSN="130275540" />
        <Ownership percentage="100"/>
        <Relationship>Sister</Relationship>
    </PrimaryBeneficiary>
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Multiple Beneficiaries
    <PrimaryBeneficiary external_id="primarybeneficiary1" same_mail_address="true">
        <Name salutation="Mr." last="Smith" first="John"/>
        <DOB>1946-12-01</DOB>
        <Residence street_1="500 Lane Street" state="CT" postal_code="06514" country="United States" city="Hamden"/>
        <Identification citizenship="United States" SSN="130275540"/>
        <Ownership percentage="50"/>
        <Relationship>Sister</Relationship>
    </PrimaryBeneficiary>
    <PrimaryBeneficiary external_id="primarybeneficiary2" same_mail_address="true">
        <Name salutation="Mr." last="Smith" first="Maria"/>
        <DOB>1946-12-01</DOB>
        <Residence street_1="500 Lane Street" state="CT" postal_code="06514" country="United States" city="Hamden"/>
        <Identification citizenship="United States" SSN="130275540"/>
        <Ownership percentage="50"/>
        <Relationship>Sister</Relationship>
    </PrimaryBeneficiary>