At Transamerica, we continually strive to update and improve our processes and procedures to better serve you. As we may occasionally require access to a client’s past tax transcripts as part of the policy issue process, we are making the Internal Revenue Service (IRS) form 4506T-EZ available on agent/producer web portals.
Form 4506T-EZ is required for all Transamerica life products that have face amounts greater than $2.5 million and at underwriter discretion to verify financial information.
Check out the 4506T-EZ FAQ for more information or contact the Transamerica sales desk with any questions.
About Form 4506T-EZ:
Form 4506T-EZ is an Internal Revenue Service (IRS) document that is used to retrieve past tax transcripts on file with the IRS. The form allows the individual to send the tax transcripts to a third party, such as Transamerica.
In certain situations, Transamerica may use the form to request a copy of the IRS tax record to verify the financial information that was provided on the application and expedite the processing of the application.
How to complete and submit Form 4506T-EZ to Transamerica:
- Download Form 4506T-EZ from a Transamerica Agent Portal. Please do not download the form from other sites. The Transamerica version has prefilled information required to expedite the processing of your application.
- Complete the name and address information (lines 1a-4) exactly as shown on the client(s) tax return. Transamerica will not be able to obtain the required tax record if the returned Form 4506T-EZ is unsigned, incomplete, or the information does not match what is on file with the IRS.
- Have the taxpayer (your client) personally sign and date Form 4506T-EZ (E-signature is not currently available).
- Send the form to Transamerica – not the IRS. Including the form with the application will expedite processing.
- Once Transamerica submits the 4506T-EZ to the IRS, completed transcripts are usually received by Transamerica in 48 to 72 hours.
IRS Form 4506T-EZ: Making It Easier For You