Are you thinking about cashing out or moving your current annuity into a traditional bank CD? Before you make the transfer, you need to understand the IRS rules so you don't accidentally trigger a massive tax bill!

In this video, Shawn Plummer from The Annuity Expert answers whether or not you can transfer an annuity to a CD. While transferring an IRA Annuity to an IRA CD is perfectly fine, moving a non-qualified (after-tax) annuity to a standard CD is a terrible financial move that forces you to forfeit your tax-deferred status.

Instead of settling for taxable interest, Shawn explains why you should look at a Multi-Year Guaranteed Annuity (MYGA). Often called the "annuity version of a CD," MYGAs offer peak fixed interest rates (currently between 5.00% and 6.00%), tax-deferred triple compounding, and far better liquidity options—like  ...