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Private Letter Ruling 202031008 Opens Multiple Annuity Planning Opportunities



Thursday March 18

3:00PM ET - 4:30PM ET

Nonqualified deferred annuities (NQDAs) are an important financial tool for many clients.  As planning professionals, it is our job to point out tax nuances and uncertainties connected to NQDAs where they exist. 

On May 7, 2020, the IRS issued PLR 202031008.  The letter ruling was issued to an insurance company that intended to issue two trust-owned annuities.  Some ambiguities over annuity taxation may have been cleared up by the PLR—and perhaps more carriers will now expand their offerings to allow trust ownership of their NQDAs.  Some clients who might be interested in buying a trust-owned annuity may be able to work with their lawyers and accountants to draft trust language that achieves their desired tax and planning results.

In this exclusive LISI Webinar, Linas Sudzius will:

  • Review the nonqualified annuity taxation landscape prior to PLR 202031008,
  • Detail the ambiguities specifically addressed by the PLR,
  • Identify additional problems the ruling indirectly solved and
  • Suggest specific annuity-related planning actions for the future.

Linas Sudzius, JD, CLU, ChFC is President of Advanced Underwriting Consultants. AUC provides outsourced advanced sales services to life insurance companies and their producers. Linas is also the principal of the ICS Law Group, an estate planning law firm located in Franklin, Tennessee.



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