WISCONSIN

Charitable Gift Annuities regulated by State Code Section 615.03-.15.

Permit issued/regulated by State Insurance Department.

Annual filing is required.

Reserve required. Rules apply to reserves for all states.

Charity must be in continuous operation for ten years.

Age of annuitant(s) must be shown in agreement.

Disclosure Wording (suggested by Wisconsin Insurance Dept.) should be placed in all Wisconsin gift annuity agreements, since Insurance Dept. will ask each charity filing for a Wisconsin Permit to include such suggested wording in all future CGAS agreements, even though the State has not yet mandated its use. (For details Click Here.)

Investment limitations required for entire Gift Annuity Fund unless separate account is established (see next item).

Charity may establish a "segregated gift annuity account" within its "segregated Gift Annuity Fund" (with prior permission from the Wisconsin Insurance Department) to hold only the annuity gifts from its Wisconsin gift annuity donors, so that the investment rules of the State need be followed only with that segregated account.

Copies of Laws, Regs, Forms & Instructions on WI State Insurance Dept, Web Site (Click Here).

Federal law (Public Law 104-62) also requires charity to supply a Gift Annuity Disclosure Statement to all annuitants in the Fund and to all prospective donors prior to making their first annuity gift.

The state has mandated that with gifts issued on or after January 1, 1999, the Annuity 2000 Table must be used to calculate the Required Reserve for your State of WI Required Reserve Report. Prior to that date, you use the 1983a Mortality Table.

This page last updated September 5, 2003.