New flexible, systematic Partial Tax Conversion program
For clients with IRAs they’d like to convert to Roth or who have ineligible beneficiaries with Inherited IRA money they’ll have to pay taxes on in 10 years, EquiTrust can help.
With our new Partial Tax Conversion (PTC) program, clients can systematically transfer money over time from their original EquiTrust Traditional, SEP or SIMPLE IRA into a Roth IRA contract, or from an Inherited IRA into a Non-Qualified contract (they pay taxes only on the money that converts).
The new Roth or Non-Qualified contract mirrors the original contract. The PTC program is available on all inforce EquiTrust deferred annuity contracts. And we make it easy! We'll do the tax withholding at the time of conversion, generating the Form 1099R for your client -– including any withholding they request.
When conducting annual reviews with your clients, don’t forget to discuss their beneficiary information and submit any changes or updates. Beneficiary change forms can be found on the Agent Gateway under Forms & Supplies > Forms.
EquiTrust does not offer investment advice to any individual and this material should not be construed as investment advice. Products underwritten and issued by EquiTrust Life Insurance Company, West Des Moines, Iowa. Products distributed by EquiTrust Insurance Marketing Services; in California doing business as EQT Insurance Marketing Services.
