Year-End Reminders: Tax Information, SNF Rate and More

Tax Information

If applicable, 1099R, Fair Market Value (FMV), and Required Minimum Distribution (RMD) documents will be mailed to clients by Jan. 31.

  • 1099R – Issued for distributions taken in 2024.
  • FMV – Owners of qualified annuity contracts receive this letter.
  • RMD – Owners of qualified annuity contracts are required to take their RMD by Dec. 31 of each year. The amount needed to satisfy this requirement will be included on the FMV letter, and can be found on our website. Get the RMD FAQ now.

2025 SNF rate
The standard nonforfeiture (SNF) rate effective Jan. 1, 2025 will be 2.65%
(3.00% in 2024)

Annual reminder
Throughout the year we send our producers updates on regulatory topics and it’s important to be fully aware of the applicable laws and regulatory requirements. Visit our compliance reminders page to make sure you’re up to date.