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TaxRobin
TaxRobin, Senior Advisor
Category: Finance
Satisfied Customers: 13344
Experience:  15 years of experience in financial advising with emphasis on tax issues.
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I am 71 now.I have a 11 year annuity that ends when I am

Customer Question

I am 71 now.I have a 11 year annuity that ends when I am 81.I want to change it to a Lifetime one.I even want to addmore money to it.Can I do this?
Submitted: 6 months ago.
Category: Finance
Expert:  TaxRobin replied 6 months ago.

Hello

Generally once you have chosen a payment option, you cannot change your mind. This is further complicated by your age and the Required Minimum Distribution rules. You cannot contribute to a tax deferred account after you reach 70 1/2.

Your chosen option pays you a fixed amount over the time period you chose and the change now with added premiums would not be allowed.

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Customer: replied 6 months ago.
I want my 32.00 returned! I am not satisfied with your answer!!!!!
Customer: replied 6 months ago.
I did not accept your answer but you charged me anyway GRRRRRRRRRRR.
Expert:  TaxRobin replied 6 months ago.

I will send your request to Customer Support

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