To cash out a Talcott Resolution annuity, you submit the Talcott annuity surrender request form by mail or fax to the company’s Annuity Service Operations in Kentucky. Talcott Resolution typically mails the check on the third business day after receiving a complete request.1Talcott Resolution. Resource Center – Frequently Asked Questions A full surrender permanently ends the contract, including death benefits and any guaranteed income riders, so it is worth getting the paperwork, the charges, and the tax picture right the first time.
How to Get the Right Form
Log in at annuities.talcottresolution.com, open the Forms section, and download the document labeled “Annuity Surrender Request.”2Talcott Resolution. Annuity Service Center – Login Page The portal lets you download and print, but it does not accept digital submission. Completed forms have to go back by mail or fax.
Grab the full surrender version, not a partial withdrawal request. The wrong form will not terminate the contract and your money stays put.
If you cannot get into the portal, call 1-800-862-6668 (the service line for legacy Hartford and Union Securities policies) and ask a representative to mail the surrender form. Confirm on the call that it is the full surrender version.
Information You’ll Need Before You Start
- Your contract number, printed on the original policy or any recent quarterly statement.
- Social Security numbers or Taxpayer Identification Numbers for every person on the contract, including joint owners. Talcott Resolution uses these to issue the Form 1099-R.
- If the contract is owned by a trust or business entity, the entity’s tax ID and the legal names of all authorized trustees or signers.
- Your current mailing address as Talcott Resolution has it on file. A mismatch can delay processing or trigger a Medallion Signature Guarantee requirement.
- Your bank’s routing number and account number if you want funds sent by ACH rather than paper check.
Mismatched or missing biographical data is the single most common reason a surrender request stalls.
Filling Out the Key Sections
Tax Withholding Election
Federal law requires Talcott Resolution to withhold 10 percent of the distribution for federal income taxes unless you affirmatively elect out of withholding on the form.3Office of the Law Revision Counsel. 26 US Code 3405 – Special Rules for Pensions, Annuities, and Certain Other Deferred Income Leave the section blank and the 10 percent default applies automatically.
That default may be too much or too little. In a higher tax bracket with a sizable gain, 10 percent can leave you underpaid in April. With offsetting losses or deductions, any withholding ties up cash you did not need to send. You can elect no withholding, a specific percentage, or a fixed dollar amount. Mark the box clearly.
Some states also require withholding on annuity distributions. If yours does, the form will carry a separate state election section. Check your state’s rule before signing.
Distribution Method
Pick either an ACH transfer to your bank or a paper check to the address Talcott Resolution has on file. For ACH, copy the routing and account numbers exactly from a voided check or bank statement; transposed digits bounce the transfer and add weeks to the timeline. For a check, update your address first if you have recently moved, or expect additional verification steps.
Signature and Identity Verification
A standard ink signature is enough for most surrenders. For higher-value transactions, or when a recent address change is on file, Talcott Resolution may require a Medallion Signature Guarantee: a specialized stamp from a bank or brokerage verifying your identity and signature. It is not the same as a notary stamp, and not every bank branch offers it. Call ahead, bring valid photo ID, and if you are unsure whether your transaction needs one, confirm with Talcott Resolution before submitting. Guessing wrong means the form comes back and you start over.
What Gets Deducted Before You’re Paid
If your contract is still inside its surrender charge period, Talcott Resolution subtracts a percentage of the contract value before cutting the check. The charge declines each year you hold the contract. The Saver Solution Choice product, for example, uses these schedules depending on the chosen term:4Talcott Resolution. Saver Solution Choice Fixed Index Annuity Disclosure Statement
- 5-year term: 9% in year one, dropping one percentage point per year to 5% in year five.
- 7-year term: 9% in year one, declining to 3% in year seven.
- 10-year term: 9% in years one and two, then declining by one point per year to 1% in year ten.
Your contract may follow a different schedule. Check your original disclosure statement or call customer service to find out exactly where you stand.
Most Talcott Resolution annuities also allow a free withdrawal of up to 10 percent of contract value each year without triggering surrender charges or market value adjustments.4Talcott Resolution. Saver Solution Choice Fixed Index Annuity Disclosure Statement That allowance does not carry over, so unused prior-year amounts cannot be stacked.
A market value adjustment may apply on top of the surrender charge if your contract includes one. The MVA tracks interest rate changes since you bought the annuity. Rising rates since purchase reduce your payout; falling rates can credit you back and partially offset the surrender charge. The formula varies by contract, but the direction is consistent.
Where to Send the Completed Form
Mail or fax the signed form to Talcott Resolution’s Annuity Service Operations:5Talcott Resolution. Annuity Service Center – Resource Center: Contact Us
- First class mail: Talcott Resolution – Annuity Service Operations, P.O. Box 14293, Lexington, KY 40512-4293
- Express or overnight: Talcott Resolution – Annuity Service Operations, 6716 Grade Ln, Building 9, Suite 910, Louisville, KY 40213
- Fax: 860-380-3280
Faxing is faster and gives you a transmission confirmation for your records. Keep the signed original in case the company asks for it later. There is no secure online upload for surrender forms; the portal handles downloads only.2Talcott Resolution. Annuity Service Center – Login Page
When the Money Arrives
Talcott Resolution generally mails checks on the third business day after a complete surrender request lands in the service center.1Talcott Resolution. Resource Center – Frequently Asked Questions That assumes the form is correct and no extra verification is needed. Missing signatures, an address that doesn’t match, or a missing Medallion Signature Guarantee bounce the request back and reset the clock.
If you chose ACH, funds usually land in your bank account two to three business days after Talcott Resolution processes the disbursement. Paper checks take postal time on top of that. Your contract is officially terminated once the disbursement is authorized, and every rider and guarantee ends at the same moment. Hold onto the final confirmation statement; you’ll need it next January to reconcile with the Form 1099-R.
Taxes You Should Expect
A full surrender is a taxable event. How much you owe turns on how much gain the contract has built above what you paid in.
For a non-qualified annuity (bought with after-tax money), the IRS treats withdrawals on a last-in, first-out basis, so earnings come out before your original premiums.6Office of the Law Revision Counsel. 26 USC 72 – Annuities; Certain Proceeds of Endowment and Life Insurance Contracts On a full surrender, the entire gain (cash value minus total premiums paid) is taxed as ordinary income in the year you receive it. Only the portion representing your original contributions comes back tax-free.
For a qualified annuity held inside an IRA or employer plan funded with pre-tax dollars, the whole distribution is generally taxable as ordinary income because there is no after-tax basis.
If you are younger than 59½ when you surrender, the IRS adds a 10 percent penalty on the taxable portion.7Internal Revenue Service. Topic No. 558, Additional Tax on Early Distributions From Retirement Plans That stacks on top of regular income tax. Exceptions exist for distributions after the owner’s death, upon qualifying disability, or as part of a series of substantially equal periodic payments over your life expectancy.8Office of the Law Revision Counsel. 26 US Code 72 – Annuities; Certain Proceeds of Endowment and Life Insurance Contracts
Talcott Resolution reports the distribution on Form 1099-R. At 59½ or older, Box 7 typically shows code 7 (normal distribution). Under 59½, expect code 1 (early distribution, no known exception).9Internal Revenue Service. 2025 Instructions for Forms 1099-R and 5498 If you qualify for a penalty exception, the insurance company has no way of knowing; you claim it on your tax return using Form 5329.
If You’d Rather Move the Money Than Cash It Out
A full surrender is not the only exit. A 1035 exchange transfers the entire value of your current contract into a new annuity without triggering tax on the accumulated gain.10Office of the Law Revision Counsel. 26 USC 1035 – Certain Exchanges of Insurance Policies Your cost basis carries over, and the deferred gain stays deferred until you draw from the replacement contract.
The money has to move directly from Talcott Resolution to the receiving insurance company. If Talcott Resolution sends a check to you and you then use it to buy a new annuity, the IRS treats the first payment as a taxable distribution, not an exchange.11Internal Revenue Service. Rev. Rul. 2007-24 The two contracts also have to share the same owner.
A 1035 exchange postpones the income tax; it does not erase it. And it does not waive Talcott Resolution’s surrender charges, which still apply on an early termination even when the exchange qualifies for tax-free treatment.