Updates From Admin

Stay Current on Product Training

You can help avoid application delays by taking your product training before you work with your client to complete their paperwork. Take a few minutes now to complete The Standard’s product training, so you’re always ready to sell in states that require company-specific training.

Rollovers vs. Transfers – Help Your Clients Choose Correctly

When you’re helping a client apply for an IRA, understanding the difference between a rollover and a transfer is important. Checking the wrong box about the source of the funds can result in a letter from the IRS. Let’s look at how to help clients avoid IRS questions about income reporting.

Form 5498 Delayed Until August

The deadline to file Form 5498 has been delayed by the CARES Act. We plan to send the form to policyowners in August.

CARES Act Mailing

We recently sent out letters about the CARES Act legislative changes affecting Required Minimum Distributions to clients that are RMD eligible. They were customized for each clients’ situation, describing the distribution options that are now available.

EFT Ensures Clients Get Funds on Time

Help clients get their recurring annuity payments on time, every time. Electronic Funds Transfer makes that happen.

Here’s Why Form 5031 Is Important

The last thing you want to hear when you’re helping a client is a request for more paperwork. But for any disbursement of funds, we require one additional form.

Secure Act and Non-Spousal Inherited IRAs

We’ve stopped issuing non-spousal inherited IRAs temporarily while we review the Secure Act and its impact on administering and servicing these contracts. This includes transfers from other carriers.

2019 Tax Forms Are in the Mail

The IRS requires The Standard to file Form 1099-R by January 31 of the year after a taxable distribution. Your clients should receive their 1099-R forms, which report distributions from annuities, no later than the second week in February.

RMD Notices Going Out Soon

Certain annuity owners can expect to see Required Minimum Distribution notifications by the end of January. See which owners will get this news.

Important Dates to Remember

The holiday season and end of 2019 are quickly approaching. To meet your clients’ service expectations during this busy time, put some important dates in your calendar.