Indicate Original Source(s) of Funds

Users have the option to indicate the original source(s) of the fund for purchasing the annuity. If applicable, additional information and notes about the funds can be entered. Multiple origins can be indicated as long as the sum of the funds equals the total premium purchase amount. Additionally, when doing contributions for qualified accounts, users can do multiple tax years at the same time.

The below screenshot shows an example of entering funds that originated from liquidating a mutual fund. The amount from the source must be indicated (in this example, all the funds are from the mutual fund), and additional fund information such as the original purchase data and liquidation type can be entered.

Supported Annuity Funding Methods

AFFIRM for Annuities supports seven standard annuity-funding methods:

• Brokerage Account
• Bank Account
• Check
• Qualified Policy Transfer/Rollover
• Qualified Funds Transfer/Rollover
• 1035 Exchange
• Non-Qualified Funds Transfer

For additional information about each annuity-funding method, and how to add each to the system see our article on the Funding Tab.

Pass-In Seed Data

Users can also enable the broker dealer to pass in the funding method as seed data, so no selections need to be made in the system.