2024 Life Settlement Provider Annual Statement Filing Instructions

  1. Two complete copies of the 2024 Annual Statement must be filed online by March 1, 2025, one in MS Word format and one in PDF format.

    For the Microsoft Word document, do not use any format other than Microsoft Word. The 2024 Statement in MS Word format does not need not be notarized.

    For the PDF copy, follow instructions 2 to 10 below. Once the PDF is completed, signed and notarized, scanned and saved in PDF format. Do not mail, or deliver any hard copy to the Department.

    To file the 2024 Statement online, attach the MS Word and the signed notarized PDF to an email addressed to [email protected] and [email protected].

  2. The Statement PDF must contain a Jurat, signed by at least two principal officers. All signatures must be original. The signatures must be in the correct place indicated at the bottom right, below the sworn statement, next to the officer’s title. The original signed Jurat must be properly notarized. To be properly notarized, the “State” where the Jurat is signed and the “State” of the Notary stamp must be the same. Statements received without a properly executed Jurat will not be accepted.
  3. Do not change the size of the document. Statements must be submitted (and the PDF generated) at 8.5" by 14". The MS Word blank is provided at that size.
  4. Print the name of the life settlement provider at the top of all pages where indicated.
  5. Respond fully to each item. Statements filed containing blank lines or unanswered questions may be deemed incomplete. Reply with “None”, “Not Applicable”, “N/A”, or “0”, as applicable. If no entries are to be made in a Schedule, write “N/A” somewhere in the Schedule and include an explanation as to why the requested information is not applicable.
  6. Report all amounts in whole dollars only. You may elect to report the amounts to the nearest dollar or through truncation of digits below a dollar. (Example: $583,683.52 may be reported as $583,684 by rounding or as $583,683 by truncation). It is expected that the failure of items to add to the summary of totals may reflect this treatment.
  7. Do not change the page numbers in the Statement. If extra pages are needed, use decimals after the page number, for example: 2.1, 2.2, etc.
  8. Pay attention to designations. All amounts on the Schedules are to be reported according to designations within the Schedules. (Example: “Life Settlement Transactions Involving New York Residents” should not include transactions for other than New York).
  9. For Annual Statement lines labeled “Aggregate Write-ins”, enter the total of the write-ins listed in the Section “DETAILS OF WRITE-INS AGGREGATED AT LINE...” (Example: In Page 2, “ASSETS”, copy the number in line 1199 to line 11. List separately each category of miscellaneous assets for which there is no pre-printed line on Page 2. An overflow page is provided on the last page of the Annual Statement if you need space for more write-ins. Use an aggregate write-in only if the item being reported is completely incompatible with any of the pre-printed lines on Pages 2, 3, and 4.
  10. Protect PPI. Individual policyowners or insureds should not be identified by name in the Annual Statement.

Questions?

It is the responsibility of each licensed entity to comply with applicable statutes and regulations at all times. If you have questions about compliance.

If you have questions regarding this Annual Statement, email Edgardo Sison at [email protected] or call at (212) 709-7710.