Agent Administration update — all AML training now accepted
EquiTrust now accepts copies of Anti-Money Laundering (AML) training certificates from all vendors. AML training is nolonger required to be completed only through LIMRA.
Ensure all agents on new business applications have completed required training
All training must be completed prior to solicitation. The agent website has resources to help.
EquiTrust product training
Required for all EquiTrust annuities. Check to ensure you have completed the training module for the product here.
In addition, ensuring EquiTrust has a current copy of your state license for the solicitation state will help us process your business quickly and efficiently.
Tax withholding forms added to inforce service forms
EquiTrust has begun adding the required federal W-4R and W-4P tax withholding language on distribution forms. Updated forms will be released incrementally throughout 2024. The following forms have been updated and are available on at Agents.EquiTrust.com:
Annuity Partial Withdrawal
Automatic Deposit Authorization
Life Policy Partial Withdrawal
Payment Option Election (annuitization requests)
Required Minimum Distribution
Each updated form has a 90-day transition period.
Forms W-4R and W-4P are used to facilitate voluntary federal tax withholding elections.
Federal Form W-4R is required for “Nonperiodic” distributions. These include, but are not limited to, partial withdrawals, full surrenders, and payments for the Terminal Illness Rider and Nursing Home Waiver.
Federal Form W-4P is required for payments that are “Periodic," including, but not limited to, SPIA payments, annuitizations, death payouts and income withdrawals.
EquiTrust does not offer investment advice to any individual and this material should not be construed as investment advice. Products underwritten, issued and distributed by EquiTrust Life Insurance Company, West Des Moines, Iowa.
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