1. 447 POINTS
    Thad Bynum
    Owner/ Partner, Bynum Insurance Agency, Inc, Clayton, GA
    A 1099 is not generated on a non-qualified annuity until such time as the funds are withdrawn. The 1099 will then just represent the gain on the annuity and not the principal amount. There could be consequences of the transfer depending on the amount of the transfer as it could have gift tax consequences.
    Answered on June 5, 2015
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