Updated requirements for life insurance ownership transfers

October 21, 2026

We’re updating the Transfer of Ownership process for Inforce life insurance policies. This change will better align with Anti-Money Laundering (AML) requirements under the Proceeds of Crime (Money Laundering) and Terrorist Financing Act (PCMLTFA).

What this means for you

As of October 26, AML information is only required for the following life insurance products when you’re transferring ownership:


When requesting a transfer of ownership, be sure to confirm the product type before completing AML information.

What’s changed:

  • Our forms have been updated to align with this change.
  • We’ve removed disbursement restrictions where AML information is no longer required.

 

What’s staying the same:

  • FACTA/CRS information is still required. Continue using the international tax classification forms: 
    • For entities (4545)
    •  For individuals (4573)

Contact us:

If you have questions about the transfer of ownership process or AML requirements, please call us at 1-800-800-4786 (1-800-800 4SUN).