Important Year-End Reminders

1099R, Fair Market Value (FMV), Required Minimum Distribution (RMD)…if applicable, your clients should receive these letters via US Postal Service by February 18, 2022. 

IMPORTANT: Find copies and all the information you need on NorthAmericanCompany.com under My Business / Annuities / Inforce Contract Information / Correspondence. REMEMBER: Your clients can request withdrawals online at My.NorthAmericanCompany.com.

Winter holiday: Offices closed Dec. 24 – Dec. 27, 2021
New Year’s Day: Offices closed Monday, Jan. 3, 2022
Extended tax-time service hours Jan. 4 through April 29, 2022: Monday through Thursday 7:30 a.m. to 5:00 p.m., and Friday 8:00 a.m. to 3:00 p.m. (Central Time).

1099R
Issued for 2021 distributions.

Fair Market Value
Owners of qualified annuity contracts receive this document.

Required Minimum Distribution (RMD)
Qualified contract owners are required to take their RMD by December 31, 2021. The amount to be taken (as of the last week of January 01/29/2021) can be found on our website.  Get the RMD FAQ now. 

2022 SNF rate: The standard nonforfeiture (SNF) rate effective Jan. 1, 2022 will be 1% (no change from 2021)