IRS Approves Another Annuity Fee Payment Arrangement

February 3, 2021 by Allison Bell

The Internal Revenue Service has released a private letter ruling that blesses efforts by a life insurer to pay fees to a customer’s fee-based financial advisor directly from the annuity contract value.

The holder of an annuity covered by the ruling will not have to include the amount spent on advisory fees in federal taxable income, according to the IRS.

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Originally Posted at ThinkAdvisor on February 2, 2021 by Allison Bell.