In a recent ThinkAdvisor article, their editorial staff created a list of the top 10 annuity and individual retirement arrangement tax bills that could affect individual annuities or could create other types of individual retirement arrangements that could use or compete with individual annuities (still in play).

Here are the current bills:

• S. 1770 — Retirement Security and Savings Act of 2021: This bill includes many annuity and retirement account provisions, including sections that could increase the popularity of "qualifying longevity annuity contracts," or deferred income annuities; remove required minimum distribution barriers for life annuities; eliminate a penalty on partial annuitization; and ease the rules governing use of exchange-traded funds in variable annuity menus.
• S. 1272 — SIMPLE Plan Modernization Act: This bill would update the SIMPLE retirement account program for small employers, and it would simplify the process of moving from a SIMPLE plan to a 401(k) plan or an annuity-based 403(b) plan. The funding vehicle for the SIMPLE account could be an individual retirement annuity.
• S. 243 — Legacy IRA Act: This bill would let an IRA holder roll up to $400,000 in IRA assets per year into a charitable life income plan. The assets could flow into a charitable remainder annuity trust or a charitable remainder unitrust.
• H.R. 2954 — Secure a Strong Retirement Act of 2021: This bill includes many annuity and retirement account provisions, including sections that could increase the popularity of "qualifying longevity annuity contracts," or deferred income annuities; remove required minimum distribution barriers for life annuities; and ease the rules governing use of exchange-traded funds in variable annuity menus.
• H.R. 2951 — To direct the Secretary of the Treasury to modify Treasury Regulations relating to insurance-dedicated exchange-traded funds. This bill would ease the rules governing use of exchange-traded funds in variable annuity menus.
• S. 2452 — Encouraging Americans to Save Act. This bill would provide matching payments for some retirement savers. The payments could go into a Roth IRA, a designated Roth account in a retirement plan, or into an annuity inside a 403(b) plan.
• H.R. 4170 — Amend the Code for Marriage Equality Act of 2021: This bill would change references to "husbands" and "wives" in federal law to "spouses," including in provisions related to married and divorced couples.
• H.R. 25 — FairTax Act of 2021: This bill would replace the current federal income tax system with a national sales tax. It would repeal the current life insurance and annuity valuation table laws.
• H.R. 1040 — Flat Tax Act: This bill would offer taxpayers a flat-tax alternative to the current income tax system. It includes annuity distributions in taxable income calculations.
• H.R. 5334 — PRIA Act of 2021: This bill would create portable retirement and investment accounts for all Americans.

If you would like to know more about these potential tax bills, you can review the ThinkAdvisor article for information on which regulator sponsored the bill, when it was introduced, and the current status of the bills.