cpc0506 Posted August 31, 2016 Posted August 31, 2016 We have a client who owns an annuity as part of his investment choices. It is held by a Life Insurance Company but all the paperwork, including investment statements and Schedule A information for the company references 'variable annuity.' Prior TPA reported the annuity as a welfare benefit - code 4B on the Form 5500 and had completed a full Form 5500,Schedule A and Schedule I. I am not sure that I agree that this is a life insurance policy. Are annuity contracts considered life insurance for Form 5500 reporting purposes? I consider this fund another investment vehicle, like a mutual fund would be. Can anyone provide some words of wisdom that can help me determine if a full Form 5500 is overkill and all that is really needed for this client is a Form 5500-SF?
david rigby Posted August 31, 2016 Posted August 31, 2016 Ask prior TPA why they did it that way? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
Bird Posted September 2, 2016 Posted September 2, 2016 I see an annuity as just another funding vehicle. ETA Consulting LLC 1 Ed Snyder
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