Non-qualified beneficiary annuities

[Grasshopper69]

What is the name of your state (only U.S. law)? NY

Hi,
I have been trying to find any regulations regarding 1035s and Non-qualified beneficiary annuities but can't find anything other than people commenting saying it can or cannot be done. Even the local IRS office couldn't advise me if you can believe that! Any suggestions on where I can find actual facts concerning this type of transfer and if it is possible?

Thanks!

 

[Betty]

Some annuity/ins. companies will do/allow a transfer & some will not. You will have to check with the co.

 

[anteater]

What exactly is your situation and question? A 1035 exchange is pretty routine stuff.

The part of the US Code authorizing these can be found at:

http://www.law.cornell.edu/uscode/usc_sec_26_00001035----000-.html

 

[Betty]

All companies will not do a transfer/exchange to a non qualified beneficiary annuity though. I think that is the OP's problem. It's generally due to tax problems why they will not/cannot do them.

OP will need to check with the co.