Topics

Loans and Withdrawals

• Can I borrow the value of my annuity contract?
  Loans may be available from a Tax Sheltered Annuity (TSA). Please be aware that you can only have one outstanding loan on your contract. Please contact a Customer Service Representative at 1-800-789-7771 to verify whether your contract allows loans.

  Please note that if you currently have an active loan balance, the loan principal quote in AXA-Equitable.com does not reflect interest due since the last loan payment due date. Please contact a Customer Service Representative for this information.

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• Do I need spousal consent to borrow?
  This only applies to certain plans. For TSA plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), the spouse's consent is required for any payment other than in the form of a Qualified Joint and Survivor life annuity.

  Spousal Consent is required for loans, withdrawals or surrenders, as the spouse is entitled to benefits under the retirement plan according to the Retirement Equity Act of 1984 (REA).

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• How do I make a withdrawal from my annuity contract?
  Please contact a Customer Service Representative at 1-800-789-7771 Monday through Friday from 8:30 AM to 5:30 PM ET to get the correct form(s) needed to execute a withdrawal.

  There may be limits on your ability to take a withdrawal from certain retirement plans. Also, there may be tax consequences and charges associated making a withdrawal.

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• How is the free corridor determined on a withdrawal?
  The free corridor amount is 10% or 15% of the Annuity Account Value at the beginning of the contract year, minus any amount previously withdrawn during that contract year.

  Any withdrawal amount that exceeds the free corridor amount will be subject to a Contingent Withdrawal Charge (CWC). A contract year is the 12-month period beginning on either the contract date or each anniversary of the date. The contract year is called "Participation Year" in the group contracts. Please refer to your Contract or ACCUMULATOR^® Prospectus for more information or call a Customer Service Representative at 1-800-789-7771.

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• Are there tax consequences for withdrawing funds from my contract?
  Depending on the type of contract you have, your age and other individual circumstances, a withdrawal could disqualify your contract from special tax treatment, be taxable and/or subject to tax penalties. AXA Equitable offers many different tax-deferred products, such as Tax Sheltered Annuities (TSA), IRAs and non-qualified annuities. We do not give tax and legal advice. We suggest that you contact a tax advisor to review your particular circumstances.

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• Will taxes be withheld on a withdrawal?
  It depends on the type of contract and other factors.

  Distributions that are subject to 10% Federal Income tax withholding are:
  
  • Minimum Distributions from TSAs and Qualified Plans
  • Other Distributions from TSAs and Qualified Plans, which are not eligible rollover distributions such as a death benefit to non-spouse
  • Non-periodic distributions from all forms of IRAs - unless you are eligible to and ask us not to withhold on your Request for Disbursement
  • The taxable amount of non-periodic distributions from Non-Qualified annuities unless you are eligible to and ask us not to withhold on your Request for Disbursement

  Distributions that are subject to 20% Federal Income Tax withholding are:
  
  • Eligible rollover distributions from TSAs, Annuitant-Owned Keogh/HR-10 contracts or other Qualified Retirement plans (including non-transferable Annuities) paid to you and not rolled over.

  Distributions to Foreign Nationals are subject to 30% Federal Income Tax withholding unless the payment is eligible for a lower tax treaty rate and the recipient properly documents eligibility before the disbursement is processed.

  AXA Equitable and its affiliates do not provide tax or legal advice. Please consult your tax and/or legal advisor for such guidance.

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• Do I need spousal consent for a withdrawal?
  This only applies to certain plans. For TSA plans subject to the Employee Retirement Income Security Act of 1974 (ERISA), the spouse's consent is required for any payment other than in the form of a Qualified Joint and Survivor life annuity.

  Spousal Consent is required for loans, withdrawals or surrenders, as the spouse is entitled to benefits under the retirement plan according to the Retirement Equity Act of 1984 (REA).

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