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February 27, 2018

Have you been caught here? You work with a client to complete a distribution form in order to withdraw funds from their annuity contract. You submit the form and request a rush in processing. Soon after, you receive a phone call from The Standard requesting a Substitute IRS Form W-4P and W-9 (Form 5031) prior to disbursement. The result is frustration for both you and your client.

January 30, 2018

Your clients will receive their 1099R no later than the second week in February. Please note, if a distribution was not a taxable event, such as a qualified transfer between financial institutions, or your client did not take a distribution in 2017, a 1099R will not be generated.
May 1, 2017
A producer advisory was recently sent out about the state of Missouri adopting the 2010 Suitability in Annuity Transactions Model Regulation in Rule 20 CSR 400-5.900, and there had been some question about the CE training requirement and its availability.
February 24, 2017

Effective April 1, 2017, the Secured Rate Annuity series (SRA 1, SRA 5 and SRA 6) and Flexible Choice Annuity (FCA) will no longer be offered by The Standard. All SRA or FCA business must be issued with an effective date no later than March 31, 2017, with no exceptions.

By Friday, March 31, 2017: