Talcott

Talcott

Variable Annuities only

Link to Forms: No public forms 
Third Party Authorization Allowed: Yes
To set up a Third Party Authorization: Use the Third Party Authorization form
Forms attached here: Mutual LPOA form

Tax Information

Available Online Mailed to the Client
RMDsRMD quote can be requested onlineNo
1099-ROn website- beginning of FebruaryMailed out starting last week of January
5498 On website - beginning of JuneMailed out starting last week of May

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

Financial Requests-Processed same business day if received in good order before 4 PM EST
Non-Financial Requests (such as beneficiary changes or address changes)-2-4 business days
Third Party Authorization- 2-4 business days
Durable Power of Attorney- 2-4 business days


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

Account Maintenance

MutualClientThird Party AuthorizationDPOA
Beneficiary ChangeNoOwners only via formNoDepends on the roles and responsibilities listed in the DPOA legal document - Case by Case situation
Statement Preferences (mail or email)Yes, I can request it, however, client must register themselves for eDelivery via the Manage Contract tab in Document Delivery preferences (Trust accounts cannot have eDelivery)Owners can call in and make that request, however, they must register themselves for eDelivery via the Manage Contract tab in Document Delivery preferences. In order to cancel that, they just click 'Remove' online
*Trust accounts cannot have eDelivery		NoDepends on the roles and responsibilities listed in the DPOA legal document - Case by Case situation

Updating Contact Information

Mutual
Client
Third Party Authorization
DPOA
Address
Can update verbally with LPOA on file 
Owner can update verbally 
No
Yes
Phone Number
Can update verbally with LPOA on file
Owner can update verbally 
No
Yes
Email
Can update verbally with LPOA on file 
Owner can update verbally 
No
Yes
Duplicate Statements
Not allowed in any capacity
Not allowed in any capacity
Not allowed in any capacity
Not allowed in any capacity

Money Movements
*Paperwork always accepted

Mutual
Client
Third Party
DPOA
Distributions
-Every time a client wants to give us authorization to call on their behalf, we need our LPOA form (if we don't already have it on file) and Talcott needs the Paperless Withdrawal Authorization form. It has to be completed by the client and then provided to us and we will get the Attachment A (the last page) signed by our Compliance. 

-Owner can only call in distributions if they have signed the Paperless Withdrawal Authorization Form
No
Depends on the roles and responsibilities listed in the DPOA legal document
Contribution
-We cannot call in contributions. 
-Owners cannot call in contributions
No

Depends on the roles and responsibilities listed in the DPOA legal document

Trading
 Owners only. Limit of 20 trades per contract year. 
No
Depends on the roles and responsibilities listed in the DPOA legal document
Tax Withholding

Owners can call in 
No


Miscellaneous
Durable Power of Attorney Requirements
-DPOA legal document
-Signed and notarized letter of instruction to add the Power of Attorney. It must include the client's account number and they must have 'POA' or 'Attorney in fact' after their signature.
ESignature accepted via DocuSign
Yes for some forms and must include Certificate of Completion page. 
Original Death Certificates Required
They will take a copy of a Certified Death Certificate - must be able to see seal. 

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    • Talcott – New Requirement by 9/27/24:

      Talcott – New Requirement by 9/27/24: Effective, September 30, 2024, Talcott will require the attached written authorization to be on file from the contract owner before Mutual will be permitted to request any transactions on behalf of the contract ...