SEC Form N-3

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DEFINITION of 'SEC Form N-3'

A filing with the Securities and Exchange Commission (SEC) that must be submitted by all insurance company separate accounts organized as management investment companies offering variable annuity contracts. SEC Form N-3 is required under the Securities Act of 1933 and the Investment Company Act of 1940, and is meant to provide investors with information about variable annuity contracts so they can determine whether to invest in them.

BREAKING DOWN 'SEC Form N-3'

Part A of this filing, the prospectus, must contain clearly-written information about the investment that the average investor, who may not have a specialized background in finance or law, can understand. Part A contains a general description of the insurance company and a general description of the contracts as well as information on accumulation units, management, deductions and expenses, annuity options available, death benefit, purchases and contract value, redemptions, taxes, and pending legal proceedings. Part B contains additional information about investment objectives and policies, purchasing and pricing of securities being offered, underwriters and more. Finally, Part C provides the company's financial statements, names of directors and officers of the insurance company and other required information.

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RELATED FAQS
  1. Where can I find a company's annual report and its SEC filings?

    Thanks to the Internet, finding financial reports is easier than ever. Nowadays, every reputable company has an investor ... Read Full Answer >>
  2. What are the best ways to sell an annuity?

    The best ways to sell an annuity are to locate buyers from insurance agents or companies that specialize in connecting buyers ... Read Full Answer >>
  3. How are non-qualified variable annuities taxed?

    Non-qualified variable annuities are tax-deferred investment vehicles with a unique tax structure. After-tax money is deposited ... Read Full Answer >>
  4. Can a variable annuity be rolled into an IRA?

    You can roll qualified variable annuities, such as other qualified retirement plan accounts, into a traditional IRA. Non-qualified ... Read Full Answer >>
  5. Are variable annuities subject to required minimum distribution (RMD)?

    Variable annuities are insurance contracts that provide tax-deferred growth of assets that can later generate a guaranteed ... Read Full Answer >>
  6. What are the disclosure requirements for a private placement?

    The U.S. Securities and Exchange Commission (SEC) has set forth disclosure requirements for private placements, including ... Read Full Answer >>

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