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View as a web page.
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February 2022
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ANNUITY NEWSLETTER
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Incoming Request Preferences
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Today, most annuity transaction requests require a paper form to be filled out and either faxed or mailed back to us. Would you be interested in an electronic method of submitting these requests, described in the survey as a “paperless online form?” Please let us know through this survey.
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Supplement Mailing Process Change
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Effective immediately, Talcott has implemented a process change involving mailings to brokers for No Action product supplements. Product supplements for fund renames do not require any action by the broker/client and fall into the No Action supplement category. The No Action product supplements will now only be available to you online on the Annuity Service Center webpage 30 days prior to the effective date of the name change. Clients will continue to receive product supplements for fund renames in the mail.
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For questions regarding this change please call 1-800-862-7155.
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Important Tax Form Information for Annuity Clients
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Your Talcott Resolution annuity clients should have received an IRS Form 1099-R if a reportable event occurred on their account during the 2021 calendar year. Reportable events include taxable distributions, contract owner changes and collateral assignments. The forms were mailed in January 2022 and if applicable, should have been received in February 2022.
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If a client did not receive a Form 1099-R, there could be a number of reasons why, including:
- They may not have taken any taxable distributions in the 2021 tax year.
- If the account is a Charitable Remainder Trust (CRT), the tax reporting on a CRT is ultimately the responsibility of the trustee. No tax reporting is done by Talcott Resolution.
- If the account is Custodially owned, the tax reporting for a custodial account is the responsibility of the custodian.
- A Form 1099-R is not issued for IRA to IRA Direct Transfers.
- A Form 1099-R is not issued by Talcott Resolution for 401(k), 401(a), 457, group 403(b), Keogh, HR-10, profit sharing or defined benefit plan types of accounts. It is the responsibility of the plan administrator to do the tax reporting.
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To view your clients’ 2021 1099-Rs, log into the Annuity Service Center and go to “My Clients,” and select the contract number that corresponds with the form you would like to view. 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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