Individual annuity questions
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An annuity is an investment vehicle that can be used as part of a retirement strategy, and may have additional benefits such as a living and/or death benefit rider.
There are two stages of life to an annuity.
1. Accumulation stage: During this stage any growth is tax deferred, meaning it will not be subject to taxation until withdrawn from the contract. Withdrawals may be taken during this stage.
2. Annuitization stage: Upon Annuitization or reaching The Lifetime Annuity Period, the contract is exchanged for a guaranteed stream of payments. Various annuitization options are available dependent upon the contract and/or riders. For questions or a quote, please call us to speak with a Annuity Product Specialist.
Contract owner(s) must complete and submit an applicable withdrawal form.
- We currently do not accept withdrawal requests via phone.
- Ohio National requires the contract owner(s) to sign any withdrawal forms and currently does not accept electronic signatures. Please note, if a contract is custodially owned by an entity (trust or plan), a signature with a title is required.
- Funds can be sent by check, direct deposit (Electronic Funds Transfer or EFT – voided check required), or wire transfer. There are limits to the dollar amount that can be sent via EFT. Also, there is a $25 fee to wire funds, and your financial institution may charge a fee for incoming wire transfers.
- Please note the withdrawals and/or contract may be affected by applicable surrender penalties, pro-rated rider charges, administration fees and/or tax liability. For details, please speak with our Annuity Product Specialists prior to submitting a withdrawal form.
- For existing systematic withdrawals, banking information for direct deposit (EFT) can be submitted with the Electronic Funds Transfer (EFT) Agreement (V-4620-A). Funds will be sent out the business day following processing.
- Funds sent via EFT generally take several business days to be reflected in your account. Contact the receiving financial institution for more information or status.
- For Ohio National to cancel an outstanding check, our bank requires us to wait 10 business days from the date the check was mailed. Once we confirm the check has not been cashed, we can void and reissue it.
- Replacing a check will take approximately three business days. 
- See our online forms. Forms can be returned via email, fax or mail.
Various annuity forms are available online on the annuity forms page. For any questions or forms not listed below, please speak with an Annuity Product Specialist for assistance.
Common requests that may not require a form:
- Address Changes
- Adding a Power of Attorney designation or Guardianship.
- Granting permission to release information to a family member.
- Changes to a systematic withdrawal payment plan (cancelling, reducing the amount, changing the date or tax withholding).
- Locating a new financial advisor. Please note that some restrictions apply.
- Copies of tax documents.
- Annuitization quotes, 72t/q quotes or Roth conversion quotes
Forms and documents may be submitted to Ohio National via email, fax or mail. We reserve the right to ask for original copies.
Documents may be submitted via:
- Email: documentcenter@ohionational.com Attn: Annuity Administration
- Fax: 513.794.4730 Attn: Annuity Administration
- Mail: Ohio National P.O. Box 5308 Cincinnati, Ohio 45201
A Required Minimum Distribution (RMD) is a requirement by the IRS for qualified funds such as traditional IRAs.
- Qualified funds are funds invested prior to taxation and grow tax deferred.
- Once you reach the age of 70½, the IRS requires you to start withdrawing a minimum amount each year.
- Ohio National will send a letter each January stating the RMD amount we have calculated according to IRS guidelines. Letters are not sent for custodially held contracts.
- Each qualified annuity contract will have its own RMD amount.
- Please note: Inherited Qualified and Inherited Non-Qualified contracts also require a RMD to be taken each year, beginning in the year following the original Annuitant’s passing. For details, please call us to speak with an Annuity Product Specialist.
You must complete the Beneficiary Change Request Form (V-4614-IS). Please note this form will completely replace all existing beneficiary designations on the contract.
- If you are adding a beneficiary, please relist all beneficiaries that will remain on the contract. Once processed, you will receive a confirmation letter of the change.
- To assign specific percentages to a beneficiary, place the percentage directly behind the beneficiary’s name. Percentages must be assigned in whole percentage terms and percentage designations must equal 100%. Ohio National will distribute equal shares of the proceeds to each named beneficiary if percentage designations are not provided.
- If a beneficiary predeceases the Annuitant, that beneficiary’s portion of the proceeds will be divided into equal shares among the surviving beneficiaries, unless a “per stirpes” designation is listed. A per stirpes designation allows the deceased beneficiary’s portion of the funds to go directly to their descendants. This will bypass the spouse of the deceased beneficiary. To assign a per stirpes designation to a beneficiary, please write “per stirpes” directly behind the beneficiary’s name. The form must be witnessed for all clients residing in the state of Massachusetts. The witness must be an unrelated and disinterested 3rd party, and cannot be a named beneficiary.
- If you live in AK, AZ, CA, ID, LA, NM, NV, TX, WA, or WI, spousal consent is required if the primary beneficiary will be someone other than the spouse. This form must then be notarized.
- Please note: For custodial or plan-owned contracts, please reach out to your financial advisor or plan administration to make changes. For contracts owned by an entity (i.e. a trust), a signature with title is required. See our online forms. Forms can be returned via email, fax or mail.
This is dependent upon who you are authorizing. The various options are listed below.
- For a financial advisor that is appointed to service and/or sell Ohio National annuity products, submit an Ohio National Agent of Record / Broker Dealer Change Request (Form V-4612-IS). We will also accept another company’s advisor change form. Restrictions may apply if the contract is custodially owned.
- For a FINRA licensed financial advisor that is not appointed to service and/or sell Ohio National annuity products, submit a 3rd Party Investment Advisor Authorization Form (Form 7216).
- To remove your financial advisor and/or financial firm, submit a Letter of Instruction (LOI) to Ohio National to remove authorization. Please make sure to include the following: The contract owner's name, contract number and a brief description of your request. This LOI must be signed and dated by the contract owner(s). Restrictions may apply if the contract is custodially owned.
- To grant authorization for release of information only to a family member or other non-advisor person or entity, submit a Letter of Instruction (LOI) to Ohio National to grant authorization.
Please make sure to include the following:
- The contract owner’s name, contract number, name of authorized person(s), and length of time of authorization. If no length of time is specified, this authorization is valid for 90 days. The maximum amount of time authorization can be granted is two years. This LOI must be signed and dated by the contract owner(s).
- POA and Guardianship paperwork may also be submitted to Ohio National for review. Ohio National does not have a POA or Guardianship form. Please submit the entire POA or Guardianship document.
- Please note: If trust owned, must include title after signature (e.g. Trustee, etc.). If signing pursuant to power of attorney, must indicate this after signature (e.g. POA, Attorney-in-Fact, etc.).
- See our online forms. Forms can be returned via email, fax or mail.
Form 1099-R reports distributions and records taxable or reportable events for qualified and non-qualified monies.
- This document is mailed to the contract owner no later than January 31st for the prior tax year.
- Use 1099-R when filing taxes.
- Form 5498 reports the fair market value (December 31st Contract Value) and any contributions made to the contract during the previous tax year on qualified contracts only. This form is for informational purposes and is NOT required to be filed with your taxes. If a 5498 Form is required to be sent, it will be mailed by May 31st.
- For a copy of a 1099-R or 5498, please contact us to speak with an Annuity Product Specialist. At this time, tax forms are not available online.
- Please note: Ohio National is not licensed to give tax advice. Please contact a licensed tax advisor if you need assistance with IRS regulations or filing your taxes.
Compensation paid to financial advisor(s) would be paid by Ohio National. For a more specific breakdown of fees associated with your contract, please call us to speak with an Annuity Product Specialist.
Charges on a Variable Annuity may include:
- Mortality & Expense and Admin Fees: Charged daily.
- Subaccount Fees: Charged daily. 
- Rider Charges: Charged annually or quarterly, based on the contract year. This is only applicable to contracts with riders. A pro-rated portion of these fees may be charged if you choose to terminate your contract during its surrender charge period. Please see your contract for more specific details.
- Please note: An Annual Contract Fee is charged annually on the contract anniversary if the contract value is under $50,000. This is not applicable to all contracts. This fee may be charged if you choose to terminate your contract during its surrender charge period. Please see your contract for more specific details.
Charges on a Fixed or Fixed Indexed Annuity (FIA) may include:
- Rider Charges: Charged annually, effective on anniversary or index anniversary for the FIA. This is only applicable to contracts with riders. A pro-rated portion of these fees may be charged if you choose to terminate your contract during its surrender charge period. Please see your contract for more specific details.
- An Annual Contract Fee is charged annually on the contract anniversary if the contract value is under $50,000. This is not applicable to all contracts. This fee may be charged if you choose to terminate your contract during its surrender charge period. Please see your contract for more specific details.
- Please note: No fees are taken from the contract to pay the financial advisor(s) listed on your contract.
All Ohio National annuities are based on the life of the listed Annuitant.
Reporting the death of an Annuitant can be done online or by calling our Annuity Product Specialists. Claim forms will then be sent to the beneficiaries listed if possible.
- If the deceased is not the Annuitant, there is no claim to the contract.
- If the deceased is a non-Annuitant owner, Ohio National will still need a copy of the death certificate to remove this person.
To start either of these processes, please contact our Annuity Product Specialists.
Please note: Any active systematic withdrawals will cease upon notification of passing. New paperwork may need to be completed if the contract is continued.
If the deceased is a beneficiary on a contract, please consider submitting a new beneficiary change form. The Beneficiary Change Request Form (V-4614–IS) will remove the deceased beneficiary. This form will completely replace what is currently on file. See the beneficiary change question above for more details.
See our online forms. Forms can be returned via email, fax or mail.
Please note: Ohio National reserves the right to request an original copy of the death certificate. At this time, all documents can be initially submitted via email, fax or mail. The state of Florida requires the long form and all death certificates must have a listed cause of death.
- To make an address change, log in to your account and go to My Account > Address Changes to submit or call our Annuity Product Specialists.
- Once processed, you will receive a confirmation letter to the new and old addresses confirming an address change has occurred. This letter will have a generic look to it for the security of your contract.
- Please keep in mind that changing an address can affect your state tax withholding on any withdrawals from your annuity contract.
- If you are vacationing for an extended period of time or have a summer/winter home, please call to speak with an Annuity Product Specialist.
Selecting a new interest rate period on a contract has no bearing on surrender schedules. This will simply lock in a new interest rate for a specific period of time.
The details will be defined within your renewal offer letter. This letter comes out approximately one month prior to your anniversary or index anniversary date if you are up for a renewal. You can return the interest rate renewal letter to us with your selection via mail or call the Annuity Product Specialists to give instructions via phone.
Selecting a new interest rate does not lock you out of the opportunity to take withdrawals, fully surrender or annuitize the contract.
Please note: Ohio National has and does offer a variety of fixed contracts. A Fixed Annuity is different from a Fixed Indexed Annuity or a fixed bucket of funds on a Variable Annuity. If you are unsure of which product you have, please call our product specialist team for clarification.
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