PTE 84-24 Fiduciary Rule

84-24 Disclosure Form (Form 25198).   Producers may use Athene’s 84-24 Disclosure Form in connection with sales of annuities involving qualified funds.  Producers are not required to use Athene’s form and may use a different version of the required disclosure to comply with PTE 84.24.  Additionally, producers will not be required to send their disclosure form to Athene (however, if sent to Athene, Athene will file the form in the client’s contract file). 

Note: PTE 84-24 requires disclosure of compensation earned by each sale. Producers will need to include their compensation for the sale in the appropriate spot on the form at the time of application. The disclosure must be signed by the producer and client, and a copy must be left with the client.  A copy of the written disclosure also must be kept in producer’s personal files for each client, including those that are do not accept the producer’s recommendation.

PTE 84-24 FAQ (Form 25199).  Athene has developed a Frequently Asked Questions (FAQ) document to help answer producers assess their status as a fiduciary under DOL’s revised interpretation of the 5-part test and address questions and provide general guidance for compliance with PTE 84-24.  For additional guidance or specific questions regarding a producer’s sales practice, producers are encouraged to consult with their sales organization or legal advisor.