Weekly Tip: Uniform Standards Spotlight_iiprc-ab-i-tq

Weekly Tips

Uniform Standards Spotlight: Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Annuity Contracts

2/6/20

Did you know the Compact has Uniform Standards for forms used to provide tax qualified plan provisions for annuity contracts?

Companies can file tax qualified endorsements for new and previously approved annuity products through the Compact under Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Annuity Contracts (IIPRC-AB-I-TQ). The Scope section of these Uniform Standards allows that the tax qualified plan provisions may be built into the annuity contract or be added to such contract by rider, endorsement or amendment. These Uniform Standards are available for Mix and Match use, and do not require actuarial review.

If you have any further questions about filing tax qualified endorsements with the Compact, please contact the Insurance Compact Office.