The internal revenue service (IRS) has released three new private rulings that could aid life insurers in offering registered index-linked annuities (Rilas) through fee-based advisors.

Each ruling letter is addressed to a life insurer that wants to sell traditional variable annuity contracts, non-variable indexed annuity contracts, and “hybrid advisor contracts” through fee-based advisors. The IRS implemented the private letter ruling program as a means of communication with taxpayers, accountants and tax lawyers to announce opinions on how federal tax rules apply to a specific set of facts. The life insurers that asked for the letter rulings said the advisory pa

Continue reading with a subscription to the SRP market intelligence platform.

Request Demo

Already a subscriber? Login