Article Structure
The Axa 1035 Exchange form serves as a vital tool for policyholders looking to execute direct transfers or exchanges of their variable annuities with Axa Equitable. This form caters to different types of transactions, including direct transfers from one tax-sheltered account to another and contractual exchanges between different TSA (Tax Sheltered Annuity) plans. Additionally, it facilitates rollovers and conversions, such as moving funds from a TSA directly into a Roth IRA. The form outlines essential information that the policyholder must provide, including details about the owner and the type of transaction being initiated. With sections dedicated to financial amounts being transferred and the allocation of various investment options, this form ensures clarity in managing retirement assets. The submission process involves either regular mail or express mail to designated processing offices in Syracuse, New York, as well as providing assistance through a dedicated helpline. Gathering the required information and carefully completing this form is crucial for a smooth transaction, allowing individuals to effectively manage and grow their retirement savings.
Axa 1035 Exchange Example
Variable Annuity Series
Direct Transfer/Contract Exchange or Direct Rollover of TSA Assets to Another Carrier
Express Mail:
AXA Equitable
100 Madison St., Suite 1000
Syracuse, N.Y. 13202
Regular Mail:
P.O Box 4956
Syracuse, N.Y. 13221
Fax Number:
(201)
For Assistance: Call (800)
7,8$%&'./00'%121'('9/00'4121'56)
Current Online Transactions: 7>>#"99,!4(+?"9U, 7;;*'($%*+,!4(+?"9U,1*;;(#,!*9$,7R"#(?%+?,:"$,]B9U, P+W.%#%"9U,:29$"/($%',799"$,Q"0(;(+'%+?U,O#(+9F"#9
1. Owner’s Information
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2A. Type of Transaction
Check One Transaction
1.Direct Transfer:
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, ,TSA to TSA — 1%#"'$,B;(+H$*HB;(+,$#(+9F"#,F#*/,*+",=IJ<0@,3;(+,$*,(+*$4"#,=IJ<0@,3;(+G,K*$4,2*.#,F*#/"#, "/B;*2"#,<*#,B;(+,(>/%+%9$#($*#,*#,*$4"#,(.$4*#%L">,B"#9*+@,(+>,2*.#,'.##"+$,"/B;*2"#,<*#,B;(+,(>/%+%9$#($*#,*#, *$4"#,(.$4*#%L">,B"#9*+@,6%;;,+"">,$*,(.$4*#%L",$4%9,$#(+9('$%*+,%+,:"'$%*+,MKG
2.Contract Exchange:
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, TSA to TSA
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3.Direct Rollover from TSA:
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Destination of Funds — Indicate Type of Retirement Plan:
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4.Rollover Conversion from TSA:
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, Rollover Conversion to Roth IRA — !*+R"#9%*+,#*;;*R"#,F#*/,(,O:7,(++.%$2,'*+$#('$,%+$*,(,Q*$4,PQ7,%99.">, 02,(+*$4"#,'(##%"#G,O4","/B;*2"#,<*#,B;(+,(>/%+%9$#($*#,*#,*$4"#,(.$4*#%L">,B"#9*+@,9B*+9*#%+?,$4",B;(+,64%'4,%9, $4",9*.#'",*F,F.+>9,6%;;,+"">,$*,(.$4*#%L",$4%9,$#(+9('$%*+,%+,:"'$%*+,MKG,Note:,T",'(++*$,B#*'"99,$4%9,#"W."9$,%F, F.+>9,(#",9.0Z"'$,$*,6%$4>#(6(;,#"9$#%'$%*+9G
Trns/Exchange/Rollover |
X01806_core_f |
Cat.# 139737 (09/13) |
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Page 1 of 6 |
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2B. Amount to be Transferred/Exchanged or Rolled Over* |
(Check One Box Only) |
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Asset Allocation
AXA Allocation
$AXA Aggressive Allocation (18*)
$AXA Balanced Strategy (8Q*)
$AXA Conservative Allocation (15*)
$AXA Conservative Growth Strategy (8R*)
$AXA
$AXA Conservative Strategy (8S*)
$AXA Moderate Allocation (T4*)
$AXA Moderate Growth Strategy (8O*)
$AXA
Target Allocation
$Target 2015 Allocation (6G*)
$Target 2025 Allocation (6H*)
$Target 2035 Allocation (6I*)
$Target 2045 Allocation (6J*)
Other Asset Allocation
$All Asset Aggressive Alt 25 (8T*)
$All Asset Growth – Alt 20 (7H*)
$All Asset Moderate Growth Alt 15 (8U*)
$EQ/AllianceBernstein Dynamic Wealth Strategies (8P*)
$EQ/Franklin Templeton Allocation (6P*)
Bonds
$American Funds Insurance Series Bond (8V*)5
$EQ/Core Bond Index (96*)
$EQ/Global Bond PLUS (47*)
$EQ/High Yield Bond (8X*)
$EQ/Intermediate Government Bond (TI*)1
$EQ/PIMCO Global Real Return (8Y*)
$EQ/PIMCO Ultra Short Bond (28*)
$EQ/Quality Bond PLUS (TQ*)
$Invesco V.I. High Yield (8L*)5
$Ivy Funds VIP High Income (8G*)5
$Multimanager Core Bond (69*)
$Multimanager
$Templeton Global Bond Securities (8F*)2,5
Cash Equivalents
$EQ/Money Market (T3*)
$Guaranteed Interest Option (A1*)
International Stocks/Global
$AXA Tactical Manager International (7N*)
$EQ/Emerging Markets Equity PLUS (8W*)
$EQ/Global
$EQ/International Core PLUS (88*)
$EQ/International Equity Index (TN*)1
$EQ/International Value PLUS (73*)
$EQ/MFS International Growth (26*)
$EQ/Oppenheimer Global (6A*)
$EQ/Templeton Global Equity (6D*)
$Invesco V.I. International Growth (7Z*)5
$Lazard Retirement Emerging Markets Equity (8H*)5
$MFS® International Value (8A*)5
$Multimanager International Equity (65*)1
Large Cap Stocks
$AXA Tactical Manager 500 (7M*)
$EQ/BlackRock Basic Value Equity (81*)
$EQ/Boston Advisors Equity Income (33*)
$EQ/Calvert Socially Responsible (92*)
$EQ/Capital Guardian Research (86*)3
$EQ/Common Stock Index (T1*)
$EQ/Davis New York Venture (6Q*)
$EQ/Equity 500 Index (TE*)
$EQ/Equity Growth PLUS (94*)
$EQ/Invesco Comstock (07*)1
$EQ/JPMorgan Value Opportunities (72*)
$EQ/Large Cap Core PLUS (85*)
$EQ/Large Cap Growth Index (82*)
$EQ/Large Cap Growth PLUS (77*)
$EQ/Large Cap Value Index (49*)
$EQ/Large Cap Value PLUS (89*)1
$EQ/Lord Abbett Large Cap Core (05*)
$EQ/Montag & Caldwell Growth (34*)1
$EQ/Mutual Large Cap Equity (6F*)
$EQ/T. Rowe Price Growth Stock (32*)
$EQ/UBS Growth and Income (35*)3
$EQ/Wells Fargo Omega Growth (83*)3
$Fidelity® VIP Contrafund® (7R*)5
$Invesco V.I. Diversified Dividend (8B*)2,5
$MFS® Investors Growth Stock (8I*)5
$MFS® Investors Trust (7P*)5
$Multimanager Aggressive Equity (T2*)
$Multimanager Large Cap Core Equity (57*)3
$Multimanager Large Cap Value (58*)
$Oppenheimer Main Street Fund/VA (7Q*)2,5
Options
$PIB AXA Moderate Growth Strategy (Q1*)4
$PIB EQ/AllianceBernstein Dynamic Wealth Strategies (Q2*)4
$PIB AXA Balanced Strategy (Q3*)4
$PIB AXA Conservative Growth Strategy (Q4*)4
$PIB AXA Conservative Strategy (Q5*)4
Sector/Specialty
$EQ/Franklin Core Balanced (6C*)
$EQ/GAMCO Mergers and Acquisitions (25*)3
$Invesco V.I. Global Real Estate (8C*)5
$Ivy Funds VIP Energy (8D*)5
$MFS® Technology (8J*)5
$MFS® Utilities (8K*)5
$Multimanager Technology (67*)
$PIMCO VIT CommodityRealReturn® Strategy (8E*)2,5
$Van Eck VIP Global Hard Assets (8N*)5
Small/Mid Cap Stocks
$American Century VIP Mid Cap Value (7V*)2,5
$AXA Tactical Manager 400 (7L*)
$AXA Tactical Manager 2000 (7K*)
$EQ/AllianceBernstein Small Cap Growth (TP*)
$EQ/AXA Franklin Small Cap Value Core (6E*)
$EQ/GAMCO Small Company Value (37*)
$EQ/Mid Cap Index (55*)
$EQ/Mid Cap Value PLUS (79*)
$EQ/Morgan Stanley Mid Cap Growth (08*)
$EQ/Small Company Index (97*)
$Fidelity VIP Mid Cap (7U*)2,5
$Goldman Sachs VIT Mid Cap Value (7W*)5
$Invesco V.I. Mid Cap Core Equity (7T*)5
$Invesco V.I. Small Cap Equity (7X*)5
$Ivy Funds VIP Mid Cap Growth (8M*)5
$Ivy Funds VIP Small Cap Growth (7Y*)5
$Multimanager Mid Cap Growth (59*)1
$Multimanager Mid Cap Value (61*)1
$Multimanager Small Cap Growth (36*)1
$Multimanager Small Cap Value (91*)1
Structured Investment Option
$Segment Holding Account for S&P 500 1yr
$Segment Holding Account for S&P 500 3yr
$Segment Holding Account for S&P 500 5yr
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Trns/Exchange/Rollover |
X01806_core_f |
Cat.# 139737 (09/13) |
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Page 2 of 6 |
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3. Acceptance of Transfer/Exchange or Rollover
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NOTE: This is the only form that AXA Equitable will accept for direct transfer/contract exchange or direct rollover requests.
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Trns/Exchange/Rollover |
X01806_core_f |
Cat.# 139737 (09/13) |
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Page 3 of 6 |
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4.Representations and Acknowledgements
A. For Direct TSA Transfers/Contract Exchanges
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Trns/Exchange/Rollover |
X01806_core_f |
Cat.# 139737 (09/13) |
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Page 4 of 6 |
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4. Representations and Acknowledgements
C. For Conversion Rollovers
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Trns/Exchange/Rollover |
X01806_core_f |
Cat.# 139737 (09/13) |
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Page 5 of 6 |
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(Important: This section must be witnessed by a Notary Public or Plan Administrator.)
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Trns/Exchange/Rollover |
X01806_core_f |
Cat.# 139737 (09/13) |
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Page 6 of 6 |
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Form Characteristics
| Fact Name | Description | Governing Law |
|---|---|---|
| Purpose | The AXA 1035 Exchange form is used for direct transfers or rollovers of TSA assets to another carrier. | Applicable federal regulations |
| Mailing Addresses | For express mail, send to AXA Equitable EQUI-VEST Processing Office, 100 Madison St., Suite 1000, Syracuse, N.Y. 13202. For regular mail, use P.O. Box 4956, Syracuse, N.Y. 13221. | New York State |
| Fax Number | The form can be sent via fax to (201) 583-2683. | N/A |
| Customer Support | For assistance, contact AXA at (800) 628-6673. | N/A |
| Types of Transactions | Users can select from direct transfers, contract exchanges, or direct rollovers. | Applicable federal regulations |
| Multiple Options | The form allows for partial or total transfers and rollovers, enhancing flexibility for account holders. | N/A |
| Notable Note | This is the only form accepted by AXA for direct transfer or rollover requests. | New York State |
| Form Version | The latest form version is X01806_core_f, Cat.# 139737 (09/13). | N/A |
Guidelines on Utilizing Axa 1035 Exchange
Completing the AXA 1035 Exchange form is an important step in the process of transferring your retirement assets. This guide outlines the necessary steps to ensure the form is filled out correctly, helping to facilitate an efficient transfer or rollover.
- Begin by entering the Owner’s Information at the top of the form. Include your name, address, and contact details.
- Select the type of Transaction by checking one of the boxes provided. Choose between Direct Transfer, Contract Exchange, Direct Rollover from TSA, or Rollover Conversion. Only one option should be selected.
- In the section labeled Amount to be Transferred/Exchanged or Rolled Over, check the appropriate box to indicate whether it’s a complete or partial transfer.
- If applicable, specify the Destination of Funds by indicating the type of retirement plan for the new account.
- Complete the Acceptance of Transfer/Exchange or Rollover section. This part may require initialing next to key statements to indicate your understanding and acceptance as the owner.
- Review and fill out the Representations and Acknowledgements section, ensuring that all required provisions are accepted and understood before signing.
- Finally, sign and date the form at the designated area to certify that all information is accurate and to authorize the transaction.
Once you have completed the form, you can submit it through the specified channels. For direct transfer requests, you can send the form via express or regular mail to the processing office, or you may choose to fax it if applicable. If you have any questions, assistance is available through the customer service number provided on the form.
What You Should Know About This Form
What is the AXA 1035 Exchange form used for?
The AXA 1035 Exchange form facilitates the direct transfer or rollover of assets from one tax-sheltered account to another. This is applicable particularly to tax-sheltered annuities (TSA). It allows the owner to manage their retirement investments more effectively without incurring tax penalties.
How do I submit the AXA 1035 Exchange form?
The completed form must be submitted to AXA equitable either by express mail or regular mail. For express mail, send it to: AXA Equitable EQUI-VEST Processing Office, 100 Madison St., Suite 1000, Syracuse, N.Y. 13202. For regular mail, use: AXA-Equitable EQUI-VEST Processing Office, P.O Box 4956, Syracuse, N.Y. 13221. Alternatively, you can fax it to (201) 583-2683. If you need assistance, call (800) 628-6673.
What information do I need to fill out on the form?
Essentially, you'll need to provide your personal information including your name, address, and account details. Specific sections on the form will require you to check the type of transaction—whether it’s a direct transfer, contract exchange, or direct rollover. Furthermore, you need to specify the amount and type of retirement plan involved.
Is there a deadline for submitting the AXA 1035 Exchange form?
While no strict deadline is provided, it's advised to submit the form promptly to facilitate a smooth transaction. Ensure that all sections are completed accurately to avoid delays in processing your transfer or rollover.
Will fees be applied when using the AXA 1035 Exchange form?
Generally, there are no fees associated with submitting the AXA 1035 Exchange form itself. However, it's crucial to verify any potential fees linked to the receiving account or the specific investment products. Always review the terms associated with your retirement plans to understand all applicable costs.
Can I track the status of my exchange once the form is submitted?
Yes, you can track your exchange by contacting AXA Equitable client service at (800) 628-6673. They can provide you with the status of your request and any further information needed to complete the transaction.
Common mistakes
When completing the AXA 1035 Exchange form, many individuals unintentionally make mistakes that can delay their requests or even lead to denials. Here are seven common errors to be aware of:
First, many people neglect to double-check their personal information. Accurate details such as your name, social security number, and contact information are crucial. Even a small typo can cause significant problems, so take a moment to confirm that everything is correct before submitting.
Next, people often overlook or misinterpret the section where they must specify the type of transaction. The form typically offers several choices—like direct transfer or contract exchange. Selecting the wrong option can lead to confusion and might require submitting a new form entirely.
In addition, many individuals fail to sign and date the form appropriately. This seems simple, but without your signature, the form is incomplete. Remember, all parties involved need to acknowledge and accept the transfer for it to proceed smoothly.
Another frequent error involves selecting the amount to be transferred. Some people either check multiple boxes or forget to do so entirely. It's essential to mark only one option—whether you wish to do a partial transfer or roll over the entire amount—since conflicting selections can create further complications.
Sometimes, individuals neglect to include supporting documents that may be requested. Ensure you attach any necessary paperwork that verifies the transaction's legitimacy. Missing documents can delay processing times significantly.
Moreover, many forget to double-check the destination of their funds. It's vital to confirm that the information of the new carrier or retirement plan is accurate. Incorrect details can mean that your funds end up in the wrong account.
Lastly, be mindful of submission methods. Some think faxing the form will suffice, but not all companies accept faxed documents. Utilizing registered or certified mail can provide confirmation that your form has been sent properly, and it also ensures that it arrives at the right location.
By avoiding these mistakes, you can help your 1035 Exchange process go much more smoothly. Always take your time when filling out such forms, double-check your answers, and seek assistance if you're uncertain about any step. Proper diligence can save you time and hassle in the long run.
Documents used along the form
In addition to the AXA 1035 Exchange form, several supporting documents are typically required during the contract exchange or rollover process. Each of these documents helps ensure a smooth transaction and adherence to regulatory standards.
- Transfer Request Form: This document requests the transfer of assets from one retirement account to another. It provides essential information about the accounts involved and the amount to be transferred.
- Account Verification Form: This form confirms the identity and details of the existing account holder. It typically requires a signature and may also require additional identification information.
- Rollover Notice: This notice outlines the specifics of the rollover process. It includes details about tax implications, deadlines, and contact information for assistance.
- Current Account Statement: A recent statement from the existing account is often needed to confirm the balance and verify the current investment allocations prior to transfer.
- Beneficiary Designation Form: This form allows the account holder to designate beneficiaries for the new account. It ensures that the funds will be distributed according to the account holder's wishes in the event of their passing.
- Tax Withholding Election Form: This form allows the account holder to specify tax withholding options for any rollover distribution that may be taxable. It's an important step to avoid unexpected tax liabilities.
- Investment Selection Form: If the accountholder wishes to choose specific investments for the new account, this form details those selections and ensures that funds are allocated according to preferences.
- Compliance Statement: This statement verifies that all transactions comply with IRS regulations and company policies, helping to mitigate potential risks associated with the transfer.
Completing these documents accurately is essential for a successful 1035 exchange. Each form serves a distinct purpose and assists in facilitating the overall process while safeguarding the account holder's interests.
Similar forms
The AXA 1035 Exchange Form is an important document that allows asset transfers within retirement plans. It shares similarities with a number of other financial transaction documents. Here's a breakdown:
- Direct Transfer Form: Like the AXA 1035, this form is used for transferring assets from one financial institution to another without tax consequences. It requires similar information about the current account and new account details.
- Rollover Form: This document allows an individual to move funds from one retirement account to another. The process is akin to the AXA 1035 Exchange in that it requires instructions about the amounts and types of assets being rolled over.
- Contract Exchange Form: This form facilitates the exchange of one insurance or annuity contract for another. Similar to the AXA form, it collects client identification and outlines the contracts involved in the exchange.
- Direct Rollover Request: This document is specifically for rolling over retirement plan assets to an IRA or another qualified plan. It parallels the AXA 1035 in its focus on maintaining the tax-advantaged status of the funds during the transfer.
- Distributions Request Form: Used to request distributions from a retirement account, it requires beneficiary information and the nature of the distribution, similar to the details requested by the AXA 1035 Exchange Form.
- Account Closing Request: When investors choose to close out their accounts, this form formalizes the process. It parallels the AXA 1035 by requiring details about the account holders and how the remaining funds should be handled after closing.
Understanding these documents helps ensure smooth transitions of assets while maintaining compliance with financial regulations. Each serves its purpose in the realm of retirement planning and investment transfers, making knowledge about them essential for effective financial management.
Dos and Don'ts
- Do: Carefully read all instructions before starting the Axa 1035 Exchange form.
- Do: Provide accurate and complete information regarding the owner's details.
- Do: Check one transaction type only to avoid confusion in processing.
- Do: Confirm that all necessary supporting documents are included with your submission.
- Do: Use clear and legible handwriting when filling out the form.
- Don't: Forget to sign and date the form where required, as this may delay processing.
- Don't: Leave any required fields blank; incomplete forms can lead to rejection or delays.
Misconceptions
- Misconception 1: The Axa 1035 Exchange form is the only document required for transferring assets.
- Misconception 2: The form only applies to variable annuity exchanges.
- Misconception 3: Filling out the form incorrectly won’t have serious consequences.
- Misconception 4: Axa handles the transfer immediately upon form submission.
- Misconception 5: I can change my mind after submitting the form without any repercussions.
- Misconception 6: The Axa 1035 Exchange form can be submitted electronically.
- Misconception 7: Using the Axa 1035 Exchange form guarantees no tax implications.
- Misconception 8: Only the account holder needs to sign the form.
This is incorrect. While it’s essential, additional forms may be needed from the receiving institution to facilitate the transfer.
This form can also be used for direct rollovers from tax-sheltered annuities (TSAs) to other types of retirement accounts, not just variable annuities.
A mistake on the form can lead to delays or even rejections of the transfer. It's crucial to double-check all information to ensure a smooth transaction.
Although they strive for efficiency, the approval and processing times may vary. Expect some delays based on the complexity of the transfer and the institutions involved.
Once the form is submitted, you generally cannot reverse the transaction until it is complete. Consult your financial advisor for clarity before taking action.
Currently, paper submissions are often required, so be prepared to send the form via mail or fax.
While this form is designed to facilitate tax-free exchanges, any discrepancies or situations involving cash distributions might trigger taxes. Understanding your specific case is key.
If the account involves joint ownership or beneficiaries, they may also need to provide signatures, which must be considered for a smooth transition.
Key takeaways
- Owner's Information: Ensure that all sections related to the owner's personal information are completed accurately. This includes filling out the name, address, and contact details as required on the form.
- Transaction Type: When choosing the type of transaction, select only one option from the available choices: Direct Transfer, Contract Exchange, or Direct Rollover. Understanding the implications of each option can help in making an informed decision.
- Amount Selection: Carefully specify whether you are making a partial or total transfer, exchange, or rollover. This section requires a checkmark in only one box, so attention to detail is crucial.
- Destination of Funds: Properly indicate the type of retirement plan associated with the destination of the funds. The accuracy of this information affects processing speed and compliance.
- Contact Information: Include the appropriate communication details for any assistance needed. This could involve phone numbers or fax transmissions to ensure the timely handling of requests.
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