Newsflash: New EFT Form

November 30, 2021

We’ve updated our Request to Initiate/Change EFT of Annuity Payment form 11426. You’ll see new options to accommodate financial institutions and accept supporting documentation.

As you’re filling out the form, be sure to complete all sections and attach the documentation requested in section 2. Missing documentation is the most common reason for delays in setting up an electronic funds transfer.

 

New EFT Form

 

Download forms from our website each time you need them to ensure you’re using the most current versions:

  1. Start at standard.com/annuities.
  2. Select your distributor in the left-side drop-down menu. Or select “not affiliated with a distributor or distributor not listed.”
  3. Choose the Find Forms and Materials button to search for the forms you need.

 

More About Producer Advisories
Have clients in another state or looking to expand your book of business? We’re implementing a new cross-border sales policy. Check out the ins-and-outs and do’s-and-don’ts of the new policy and forms before you get down to business.
It’s time to send out the 2023 IRS Form 5498 for IRA Contributions. Be sure to notify your clients who should expect them and find out the dates we’re sending them out.
Many clients count on receiving their annuity payments on specific dates so they can pay bills and meet day-to-day living costs. Electronic Funds Transfer is the best way to ensure payments on time, every time.
Please review this recent compliance alert: New Hampshire INS 305, Suitability of Individual Annuity Sales Recommendations.
We’re always looking to improve the customer experience. Thanks to your feedback, we’re rolling out new options for annual interest payments. See how these new features work.
We mailed IRS Form 1099-R in February to clients who took a distribution last year. You can view and download 2023 and prior year tax forms on the Annuity Portal.
Required Minimum Distribution notifications were mailed out at the end of January. Here’s the rundown on who we sent them to and what to expect.