SEC - The United States Securities and Exchange Commission
09/12/2024 | Press release | Distributed by Public on 09/12/2024 13:50
Draft of Updated 2024 Variable Insurance Product (VIP) Taxonomy
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Draft of Updated 2024 Variable Insurance Product (VIP) Taxonomy
Sept. 12, 2024
The Commission adopted rules amending the form currently used by most variable annuity separate accounts, Form N-4, to require issuers of registered index-linked annuities (RILAs) to register offerings on Form N-4 as well. The Commission also extended the registration, filing, and disclosure requirements that the Commission adopted for RILA offerings to the offerings of registered market value adjustment annuities ("registered MVA annuities"). See https://www.sec.gov/files/rules/final/2024/33-11294.pdf.
As part of the adopted rule, issuers of RILAs and registered MVA annuities are required to tag certain information on Form N-4 in Inline eXtensible Business Reporting Language (XBRL) format to file electronically with the Commission using the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. The new elements needed to tag this information are incorporated in the VIP taxonomy because RILAs and registered MVA annuities are insurance products whose offerings are registered on Form N-4.
A draft of the updated version of the VIP taxonomy has been posted, and the files are available at https://www.sec.gov/data-research/taxonomies. Please provide technical feedback to [email protected] by 4pm EST, Nov 12, 2024. Include "Draft of Updated 2024 VIP Taxonomy" in the subject header.
Last Reviewed or Updated: Sept. 12, 2024