RMD Notifications

February 2, 2024

In January, we mailed Required Minimum Distribution notifications to all policy owners who have or will reach the age of 73 in 2024. Two different packets were sent.

  •  Letter only went to:
    • Individuals who are already set up to receive automatic RMDs.
  • Letter, The Standard’s IRS Minimum Distribution form 10516, and The Standard’s Substitute IRS Forms W-4P and W-9 form 5031 went to:
    • Contract owners where 2024 is the first year an RMD is required.
    • Individual who’ve reached age 73 but haven’t elected automatic distributions.
    • Owners meeting these requirements who are receiving payouts other than an RMD, like scheduled interest payments.

Have Questions?

Contact our service specialists at 800.247.6888 or send us a message.

More About Producer Advisories
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.
We’re sending out IRS Form 1099-R in January. We’ll also post them on the Annuity Portal at that time. Take a second to mark your calendars and remind your clients.
Please review this recent compliance alert: Florida House Bill 1185, Suitability of Individual Annuity Sales Recommendations.
Please review this recent compliance alert: Kansas K.A.R. 40-1-53, Suitability of Individual Annuity Sales Recommendations.

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Doing business with The Standard is good for you and your clients. Our annuities offer innovative product design, desirable rates, competitive compensation, high industry ratings and excellent service.