Transamerica Says It Has One of the Advisory Fee Letter Rulings

February 25, 2020 by Allison Bell

Transamerica revealed Thursday that it’s one of the life insurers that now has a private letter ruling on annuity advisory fees from the Internal Revenue Service.

The letter ruling lets Transamerica offer annuity holders a streamlined mechanism for paying advisory fees from the annuity assets, without creating tax headaches.

“In light of the private letter ruling, Transamerica plans to offer fee-friendly annuity benefits in 2020,” the company said.

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Originally Posted at ThinkAdvisor on February 21, 2020 by Allison Bell.