Loans and Assignments / Non-qualified
While loans might be allowed in a non-qualified annuity contract, loans or assignments would be treated as a distribution, hence, taxable and subject to a federal excise tax penalty of 10%.
Qualified and Non-Qualified
Loans and Assignments / Non-qualified
While loans might be allowed in a non-qualified annuity contract, loans or assignments would be treated as a distribution, hence, taxable and subject to a federal excise tax penalty of 10%.
