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View as a web page.
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January 2021
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ANNUITY NEWSLETTER
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Book of Business Filters Updated for SECURE Act
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The SECURE Act pushes back the age at which retirement plan participants need to take required minimum distributions (RMDs) from 70½ to 72. Talcott Resolution has made the following updates to the filters within your online Broker Book of Business to reflect this change.
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- We removed the sort function, “between 70-71,” because this age range is no longer accurate in reflecting which one of your clients needs to begin taking RMDs.
- We created a filter to sort your book of business by the age range of “greater than 70”. This will identify all your clients who are 72 and older, as well as any clients that still need to take an RMD because the SECURE Act age change does not apply to them.
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Important Variable Annuity Contract Documents Now Available
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You can now access your clients’ fourth quarter 2020 variable annuity Statement of Account through the Annuity Service Center. To view Statements online, log into the Annuity Service Center. Enter your user ID and password or register as a new user if you do not already have access.
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Once you are logged in, go to “My Clients” and select the contract you would like to review, and then go to the "Online Documents" tab. Or, go to “My Clients” and select the “Print Statements “tab. Here you can save time by viewing or printing all or a portion of your clients’ statements at once.
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2020 Tax Forms 1099-R
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If a reportable event occurred on your client’s annuity account during the 2020 calendar year, including taxable distributions, contract owner changes, and collateral assignments, they will receive an IRS Form 1099-R. The forms will be mailed out by January 31, 2021 and should land in client mailboxes by early February 2021.
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To view your clients’ 2020 1099-Rs, log into the Annuity Service Center, go to “My Clients” and select the contract number for which you would like to view a form. Then select "Online Documents" and click the “Go” button under “Form 1099-R.” From this point you can print the form for your records.
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