Montana Charitable Gift Annuity Registration

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

Montana Charitable Gift Annuity Registration

Agency:Office of the Montana State Auditor - Commissioner of Securities and Insurance
Law:

MT Code § 33-20-701 through MT Code § 33-20-705

Organization Age Requirement:

3 years of continuous existence immediately preceeding licensure.

Minimum Unrestricted Cash or Cash Equivalent Requirement:

$100,000

Disclosure Details:

Charities must include a disclosure mentioning "That a qualified charitable gift annuity is not insurance under the laws of this state and is not subject to regulation by the commissioner or protected by an insurance guaranty association.".

Initial Registration

Form:

Notification of Issuance of Qualified Charitable Gift Annuities

Agency fee:

$0

Notes:

Montana charities must provide notice before entering into a charitable gift annuity agreement. Notices must identify the organization, certify that the organization is a charity and that the annuities issued are qualified charitable gift annuities, and be signed by an officer or director. Charities must also maintain a separate annuity fund that covers at least half of the value of the initial amount transferred for outstanding annuities.

Registration Renewal

Form:

Notification of Issuance of Qualified Charitable Gift Annuities

Agency fee:

$0

Due:

Annually by March 1.

Notes:

Financial statements are not required for renewal, although they may be requested at a later date.

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