7 Things To Remember When Doing A 1035 Annuity Exchange
The process of using funds from an existing annuity to purchase another annuity is commonly referred to as an annuity exchange. If the funds being used are non-qualified (i.e. not held in something like an IRA), then the exchange would be a 1035 exchange (so named for Section 1035 of the IRS Code, which governs such exchanges). If the funds being used are qualified, then the annuity exchange is…