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View as a web page.
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May 2020
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ANNUITY NEWSLETTER
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May 2020 Variable Annuity Documents
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Talcott Resolution’s May 1, 2020 variable annuity product prospectuses are now available on our website, Talcott Resolution. Click on Variable Annuities Prospectus under Annuity Resources on the homepage and you’ll be brought to our Resource Center. From there you can view variable annuity product prospectuses, as well as fund prospectuses and Statements of Additional Information.
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As a reminder, contract holders with certain products will be mailed an audited separate account financial statement for their variable annuity contract in lieu of an annual product prospectus. Prospectuses for these products are no longer available on our website.
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Changes to IRS Forms 5498 Mailing Date
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The 2019 income tax deadline has been extended to July 15, 2020, and as a result, the deadline for 2019 IRA contributions has also been extended to July 15, 2020. Due to this extension, the timeframe for when Talcott Resolution will mail IRS Forms 5498 has also changed. Normally, 5498 forms are mailed by May 15, however, the planned mail date is currently July 15, 2020. Only contract holders who made a contribution to their qualified plan for the 2019 tax year will receive a 5498, and the form is not required to file a tax return. Please note that this mailing date may move following any additional changes that may come into effect.
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CARES Act Reminder for Talcott Resolution Qualified Contracts
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The Coronavirus Aid Relief and Economic Security (CARES) Act recently passed by Congress includes temporary waiver of the requirement to take Required Minimum Distributions (RMD) for most qualified plans during 2020. The act also suspends RMDs for beneficiaries of most qualified plans in 2020.
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If you have clients that are currently enrolled in the automatic RMD program, Talcott Resolution will continue to calculate their RMD for 2020 and distribute those payments to them. If you have clients that would like to adjust their existing automatic RMD program due to this new law, you may contact our Annuity Service Center at 1-800-862-7155 Monday through Thursday, 8:00 a.m. to 7:00 p.m., or Friday, 9:15 a.m. to 6:00 p.m., Eastern Time, and one of our representatives will assist you.
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