Draft of Updated 2024 Variable Insurance Product (VIP) Taxonomy
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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. To find out more details please visit : https://www.sec.gov/ |