Yes! You can use AI to fill out 1035 Exchange, Rollover or Transfer Request Form - Transamerica
This form is used to initiate a tax-free exchange of a life insurance policy, endowment, or annuity for a new one, as permitted by Section 1035 of the Internal Revenue Code. It allows policyholders to replace an existing contract with a new one from Transamerica without recognizing a taxable gain. Today, this form can be filled out quickly and accurately using AI-powered services like Instafill.ai, which can also convert non-fillable PDF versions into interactive fillable forms.
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Form specifications
| Form name: | 1035 Exchange, Rollover or Transfer Request Form - Transamerica |
| Number of pages: | 1 |
| Language: | English |
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How to Fill Out 1035 Exchange Form Online for Free in 2026
Are you looking to fill out a 1035 EXCHANGE FORM form online quickly and accurately? Instafill.ai offers the #1 AI-powered PDF filling software of 2026, allowing you to complete your 1035 EXCHANGE FORM form in just 37 seconds or less.
Follow these steps to fill out your 1035 EXCHANGE FORM form online using Instafill.ai:
- 1 Navigate to Instafill.ai and upload the Transamerica 1035 Exchange Form or select it from the template library.
- 2 Provide information about the existing policy being surrendered, including the original company, policy number, and owner details.
- 3 Indicate the type of transaction being requested: a full or partial 1035 exchange, a transfer of funds, or a direct rollover.
- 4 Specify the details of the new Transamerica policy or contract that will be receiving the funds.
- 5 Complete the authorization section to permit the transfer of funds from the existing company to Transamerica.
- 6 Review all the information populated by the AI for accuracy, make any necessary edits, and then electronically sign and submit the completed form.
Our AI-powered system ensures each field is filled out correctly, reducing errors and saving you time.
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Frequently Asked Questions About Form 1035 Exchange Form
This form is used to request the movement of funds from an existing life insurance policy or annuity to a new policy with Transamerica. It facilitates a tax-advantaged 1035 Exchange, a direct transfer, or a rollover of funds.
You should complete this form if you are the owner of an existing insurance or annuity contract and want to use its value to fund a new Transamerica policy.
A 'Full' exchange moves the entire value from your old policy, which will then be terminated. A 'Partial' exchange moves only a specified portion of the funds, leaving the original policy active with a reduced value.
You will need the name of the current insurance company, the policy or contract number, and the name(s) of the policy owner(s). You may also need a recent policy statement.
After you submit the form, Transamerica will contact your current insurance company to request the funds. This process can take several weeks as it requires coordination between the two companies.
The completed and signed form should be submitted to Transamerica, typically along with your new policy application. Contact your financial professional for the specific mailing address or submission instructions.
It is common for the surrendering company to require its own paperwork. You should contact them directly to ensure you have completed all necessary forms to avoid delays.
All owners of the policy being exchanged or transferred must sign and date the form. If ownership is under a trust or corporation, an authorized representative must sign.
Yes, services like Instafill.ai use AI to auto-fill form fields accurately and save time. This can help reduce errors when entering personal and policy information.
You can use a service like Instafill.ai to upload the PDF and fill it out on your computer. The platform allows you to type information, add a digital signature, and download the completed form.
If your PDF is not interactive, you can use a tool like Instafill.ai to convert it into a fillable format. Simply upload the flat PDF, and the service will make the fields interactive for you to complete online.
A 1035 Exchange refers to a provision in the Internal Revenue Code (IRC) that allows you to exchange an existing insurance or annuity policy for a new one without triggering immediate tax consequences on the gains.
Compliance 1035 Exchange Form
Validation Checks by Instafill.ai
1
Transaction Type Selection Completeness
This check ensures that the user has selected at least one transaction type, such as '1035 Exchange', 'Rollover', or 'Transfer'. Submitting the form without specifying the transaction type makes it impossible to process, as the required steps and regulations differ for each. A failure would result in an error message prompting the user to make a selection before proceeding.
2
Owner's SSN/TIN Format Validation
Verifies that the Social Security Number (SSN) or Taxpayer Identification Number (TIN) is entered in the correct 9-digit format (e.g., XXX-XX-XXXX or XX-XXXXXXX). This number is critical for tax reporting to the IRS and for uniquely identifying the policy owner. An incorrectly formatted number would cause processing and tax reporting failures, so the form should not be submittable until the format is corrected.
3
Full vs. Partial Transfer Logic
This validation checks for logical consistency between the transfer type (Full or Partial) and the amount specified. If 'Partial' is selected, a specific dollar amount or percentage must be entered. If 'Full' is selected, the amount field should be either disabled or ignored. This prevents ambiguity and ensures the surrendering company receives clear instructions, avoiding processing delays or incorrect transaction amounts.
4
Surrendering Policy Information Completeness
Ensures that the name of the surrendering financial institution and the corresponding policy or contract number are both provided. This information is essential for Transamerica to initiate the asset transfer request with the correct company and for the correct account. Missing this information would make the entire request un-actionable, leading to immediate rejection of the form.
5
Receiving Transamerica Contract Number Validation
This check validates that the destination Transamerica policy or application number exists and is in a valid status within Transamerica's systems. It confirms that the funds have a legitimate and correct destination account. An invalid or non-existent number would mean the funds have nowhere to go, causing the transaction to fail and requiring manual intervention to resolve.
6
Signature Date Logical Consistency
Validates that the signature date is a real calendar date, is not set in the future, and is not excessively old (e.g., older than 60 days). Financial institutions require a recent signature to confirm the owner's current intent. A future or stale date can render the legal document invalid, leading to rejection and requiring the client to re-sign and re-submit the form.
7
Owner's Date of Birth Validity and Age Verification
This check confirms that the owner's date of birth is a valid date and that it indicates the owner is of legal contractual age (typically 18 years or older). This is a fundamental legal requirement for entering into a financial contract. An invalid date or an underage owner would make the contract voidable, so the system must prevent submission.
8
1035 Exchange 'Like-Kind' Rule Adherence
For transactions marked as a '1035 Exchange', this validation cross-references the surrendering product type (e.g., Annuity, Life Insurance) with the receiving product type. It ensures the exchange complies with IRC Section 1035 'like-kind' rules (e.g., annuity-to-annuity is allowed, but annuity-to-life insurance is not). A non-compliant selection would result in an adverse tax event for the client, so the form must flag this potential issue.
9
Residential Address Verification
Ensures the owner's primary address is a complete physical street address and not a P.O. Box. A physical address is often a legal and regulatory requirement for identity verification (KYC) and for state-specific compliance. Failure to provide a valid physical address can halt the account setup and transaction process.
10
Required Signatures Presence Check
Verifies that all mandatory signature fields on the form have been signed by the appropriate parties (e.g., Owner, Joint Owner, Trustee). A request form is not legally binding or actionable without the required signatures. The system should prevent submission of an unsigned or partially signed form to avoid automatic rejection and processing delays.
11
Contact Phone Number Format
This check validates that the provided contact phone number follows a standard format, such as ten digits with optional parentheses and hyphens (e.g., (555) 555-5555). A valid phone number is crucial for the processing team to contact the client if there are questions or issues with the request. An invalid format can hinder communication and delay the transaction.
12
Conditional Field Requirement for Rollovers
If 'Rollover' is selected as the transaction type, this validation ensures that fields specific to qualified retirement plans are completed. This may include the type of plan (e.g., 401(k), IRA, 403(b)) and whether the funds are pre-tax or post-tax. This information is critical for ensuring the funds maintain their tax-deferred status and are handled correctly, preventing potential tax penalties for the client.
Common Mistakes in Completing 1035 Exchange Form
Users often confuse a 1035 Exchange, Rollover, and Transfer, as the distinctions are technical and have different tax implications. Selecting the wrong type can lead to the transaction being treated as a taxable distribution, potentially incurring taxes and penalties. To avoid this, carefully read the definitions on the form or consult a financial advisor, and use tools like Instafill.ai which can provide contextual guidance for complex fields.
People frequently enter a common brand name instead of the full legal name of the surrendering financial institution or provide an outdated mailing address. This causes the request to be sent to the wrong company or department, resulting in significant processing delays or outright rejection. To prevent this, find the exact legal name and processing address on a recent account statement or the company's website.
A simple data entry error, like transposing two digits in the surrendering or new policy number, will cause the transaction to fail automatically. These numbers are unique identifiers, and any inaccuracy means the system cannot locate the correct account, leading to an immediate rejection. To avoid this, carefully copy the numbers from an official statement, and use AI-powered form fillers like Instafill.ai that can validate number formats and reduce manual entry errors.
The owner's name, Social Security Number (SSN), or Taxpayer Identification Number (TIN) must exactly match the records at the surrendering company. Discrepancies, even minor ones like a missing middle initial or using a nickname, will fail identity verification and cause the transfer to be rejected for security reasons. Double-check that all personal information is identical to what's on your existing account statements to avoid these validation failures.
Users sometimes overlook the checkbox to indicate whether they are liquidating the entire policy (Full) or only a portion (Partial). This omission leaves the request ambiguous and unprocessable, causing delays. In a worst-case scenario, a misinterpretation by the processing agent could lead to the unintended closure of an account you wished to keep active.
When requesting a partial transfer, individuals may provide unclear instructions, such as writing 'half' instead of a specific dollar amount or failing to specify how the withdrawal should be allocated across funds. This ambiguity forces the financial institution to reject the form, delaying the transaction until clear, precise instructions are provided. Always specify an exact dollar amount or a fixed percentage to ensure the request is processed correctly.
When dealing with qualified accounts like IRAs or 403(b)s, users may fail to correctly specify the source of funds (e.g., Traditional, Roth, SEP). This mistake can lead to the improper commingling of funds, creating complex tax reporting issues and potentially triggering penalties for excess contributions or unqualified distributions. It is crucial to verify the exact account type from which funds are being moved to maintain its tax-advantaged status.
Forgetting to sign the form or failing to get signatures from all required parties (like a joint owner or spouse in certain states) is one of the most common reasons for rejection. The signature serves as legal authorization, and without it, the form is invalid, halting the entire process. Always review the signature section carefully to ensure all required signatures are present and dated.
Financial institutions typically have a policy against accepting forms signed and dated too far in the past, often more than 30 or 60 days. This is a security measure to ensure the request is recent and still intended by the owner. Submitting a form with a stale date will result in it being returned, requiring you to fill out and sign a new one.
Forms filled out by hand with poor handwriting can be misinterpreted by data entry personnel, leading to errors in critical fields like names or account numbers. Furthermore, using white-out or correction fluid is often prohibited on legal and financial documents. If the form is a non-fillable PDF, tools like Instafill.ai can convert it into a fillable version, ensuring all entries are typed, legible, and professional.
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