Transamerica Variable Annuity

murphyc122265

Has anyone any luck or guidance with setting up online services for a Quicken investment account tied to a Transamerica variable annuity account? None of the options in Quicken seems quite right (i.e., Insurance, Retirement Services, or Retirement Solutions) since I log in to www.transamerica.com. In fact, the Transamerica site noted in Quicken, when selecting www.transamericaannuities.com, doesn't even seem to exist, and the setup fails, of course, with a message such as "Sorry, we encoutered an error."

Transamerica tells me that I need to speak with Quicken since Quicken has not taken certain actions that Transamerica has mandated before Quicken access will be allowed. Can anyone share any insight, please?

Thanks.

Boatnmaniac

Annuity accounts cannot be set up for download into Quicken. Annuities are insurance products, not securities.

Also, whoever you talked with at Transamerica is wrong. It is only the Financial Institution that has the sole responsibility for contracting with Intuit (the aggregator) to get support for Quicken set up. However, unless Intuit and Quicken add support for annuities to Quicken there is no way to set up downloads of annuities.

What I and others do to track annuities in Quicken is to set up a deferred income investment account and then set up the annuity itself as a custom security. Then enter a Buy transaction in the investment account for that security with the quantity of Shares being equal to the purchase value of the annuity @ $1.00 per share. I will then periodically update the value of the annuity by entering a ReinvDiv transaction at $1.00/share. It works for me. There are a couple of other ways some manage annuities. You can do a search in Community to see if you find another process that you might find better for your situation.

If you are getting payments from the annuity and/or if you have multiple annuities you might want to read the following thread for one idea of how to setup and enter the transactions so they get captured properly in the Tax Reports and Tax Planner.:

https://community.quicken.com/discussion/7929834/managing-annuity-accounts-in-quicken