California Charitable Gift Annuity Registration

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Filling out a form on donation property

Charities are required to meet prerequisites and follow regulations before using charitable annuities for fundraising. This guide contains information about charitable gift annuities in California.

California Charitable Gift Annuity Registration

Agency:California Department of Insurance
Law:

CA Ins Code § 11520 et seq.

Organization Age Requirement:

10 years of continuous existence immediately preceeding licensure.

Audit Requirements:

An audited financial statement is required with the application.

Initial Registration

Form:

Application for Certificate of Authority as a Grants and Annuities Society

Filing method:

Mail or online.

Agency fee:

$4,233

Notarize:Required
Notes:

Charities must authorize the creation of the annuity fund by board resolution. In addition, charities need a segregated reserve fund and must follow reserve fund regulations to qualify for issuance of charitable gift annuities.

Registration Renewal

Form:

G&A Annual Statement

Agency fee:

$136

Due:

Annually within 120 days of the organization's fiscal year end.

Notes:

In addition to annual statements, charities must submit quarterly statements with information on each annuity agreement.

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