Prudential

Prudential

Accounts starting with E

Link to Forms: No outside forms available
Third Party Authorization Allowed: No 
Forms attached here: Mutual LPOA form

Portfolio Holdings: Investment Options | Prudential Financial 

Prudential paperwork can be sent in via annuityserviceforms@prudential.com

*Please note, if the account is now under Fortitude, then you must pull Fortitude forms*

Tax Information

Available Online Mailed to the Client
RMDsYes, beginning of JanuaryNo
1099-RCall for a copy - beginning of FebruaryDepending on delivery preferences, they are mailed/emailed tax forms beginning of February
5498 Call for a copy- beginning of MayDepending on delivery preferences, they are mailed/emailed 5498s beginning of May

Processing Times
*keep in mind will be longer when there are higher volumes

Financial Requests- 2-3 business days IGO
Non-Financial Requests (such as beneficiary changes or address changes)- 5-7 business days IGO
Durable Power of Attorney
- 5-7 business days IGO


Please note, Prudential paperwork is always accepted. The below tables are for verbal authorizations. 

Account Maintenance

MutualClientThird Party AuthorizationDPOA
Beneficiary ChangeNoOwners can call or via formNoDepends on the roles and responsibilities listed in the DPOA legal document - Case by Case situation, however, everything must always be in writing from DPOAs.
Statement Preferences (mail or email)Can only change online.Owners can change online
NoDepends on the roles and responsibilities listed in the DPOA legal document - Case by Case situation, however, everything must always be in writing from DPOAs.

Updating Contact Information

Mutual
Client
Third Party Authorization
DPOA
Address
Can update verbally with LPOA on file
Owner can update verbally 
No
They can make the update, however, DPOAs always have to put everything in writing. 
Phone Number
Can update verbally with LPOA on file
Owner can update verbally 
No
They can make the update, however, DPOAs always have to put everything in writing. 
Email
Can update verbally with LPOA on file
Owner can update verbally 
No
They can make the update, however, DPOAs always have to put everything in writing

Money Movements
*Paperwork always accepted

Mutual
Client
Third Party
DPOA
Distributions
Not allowed. Forms 310201 and
310220

Contact Owner can call in to process
No
Written may be accepted, it depends on the roles and responsibilities listed in the DPOA legal document
Contribution

Not allowed
Contract Owner can call in to process
No

Written may be accepted, it depends on the roles and responsibilities listed in the DPOA legal document

Trading
IF authorizedContract Owner can call in process
No
Written may be accepted, it depends on the roles and responsibilities listed in the DPOA legal document
Tax Withholding
Not Allowed
Contract Owner can call in to process 
No
Written may be accepted, it depends on the roles and responsibilities listed in the DPOA legal document. 

Miscellaneous
Durable Power of Attorney Requirements
DPOA legal document only. Once received, they send it to their Legal Department for review and Legal will let them know if they need additional requirements.

Keep in mind, Mutual has their own requirements that must be satisfied as well. 
ESignature accepted via DocuSign
No
Original Death Certificates Required
Original death certificates required for all accounts.

Note: 
-There is no freezing of funds for a policy before a 1035 exchange
-If a 1035 exchange occurs and the clients want to return the funds during the "Free look period", it is not allowed. Once a contract is surrendered, the funds cannot come back.

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