Getting Clued In: How the SEC’s RILA Rulemaking Affects Variable Annuities
February 4, 2025 by Harry Eisenstein
The recent rule and form amendments adopted by the SEC to facilitate the registration of registered index-linked annuities (RILAs) and market-value adjustment annuities (MVAs) on Form N-4 have been broadly welcomed by the insured investment products industry. Some changes to Form N-4 brought by the RILA/MVA rulemaking, however, will also apply to issuers of variable annuities, even if those variable annuity insurers do not offer any RILAs or MVAs. Variable annuity issuers may now file their annual updates in compliance with the new rule and form amendments, but they must submit such compliant filings for these products that are effective no later than May 1, 2026.