To issue charitable gift annuities in our state, your non-profit educational, religious, charitable or scientific organization must obtain a certificate of exemption from our office. The Washington Department of Financial Institutions classifies annuities as financial securities and issuing them without the proper exemption violates both state and federal securities laws.
Before you apply
If you're applying for a certificate of exemption to issue charitable gift annuities, it's your responsibility to understand Chapter 48.38 RCW, Chapter 284-38 WAC and any other applicable statutes. Carefully review what's required of you if you're an exemption certificate holder.
How to apply for your certificate of exemption
Download and complete the charitable gift annuity application form (PDF, 455.39KB). Follow the instructions included with this application to prepare your application and submit it via email.
We acknowledge applications upon receipt.
After you apply
Applications are assigned to our analysts in the order they're received. Once assigned, an analyst will reach out to the contact listed in question 11 in your application. If there's someone else who should be contacted, be sure to include their contact information in your application.
If your organization doesn't meet the financial requirements to register, per RCW 48.38.010(6), we'll stop our review and the application will be closed.
If you meet all requirements and any errors in your application are resolved, we'll issue your certificate of exemption by email.
Certificate holder responsibilities
Issuing charitable gift annuities places legal, financial and reporting requirements on your organization. These requirements can be burdensome and costly. Your organization is required to maintain its registration until it has no in-force contractual obligations.
Form filings
We must approve any policy or contract forms before you can use them. File your forms electronically using SERFF.
Contact our Rates and Forms Help Desk at 360-725-7111 if you have form filing-related questions.
Annual reporting and filing fees
Certificate holders must file an annual report within 60 days of their fiscal year end. The annual report must include a Statement of Actuarial Opinion prepared by a qualified actuary, relating to the annuity reserves and other actuarial items covered by the report. The statement of Actuarial Opinion is required even if the certificate holder has no outstanding annuities issued to Washington residents.
Annual submissions of audited financial statements and IRS Form 990 filings are also required.
Certificate holders pay a $25 annual filing fee, plus $5 for each charitable gift annuity contract issued to residents of Washington during their fiscal year ending on or before Dec. 31 of the previous calendar year. Payments are due by March 1 each year.
Reporting material changes
It’s important that you keep your contact information up to date. We assign access to the financial filing portal to the financial statement contact on file. If this person changes their phone number, email, or leaves your organization, you must notify us to maintain access to the portal.
Only the legal entity named on a certificate of exemption can issue charitable gift annuities. If your organization goes through a merger or acquisition, changes its name, or wants to transfer its annuities to another entity, you must update your certificate first. Failure to update your certificate may result in enforcement or administrative action. Contact us before you make these changes for a list of required documents.