Description

Updated: This item modifies the instructions and illustration to data-capture additional information on interest in Note 7 – Investment Income. The Annual Statement instructions will be modified to reflect changes to SSAP No. 34 – Investment Income Due and Accrued adopted by the SAPWG on 3/22/2023 through Ref #2022-17.

Effective Annual 2023

References: 2023-11BWG Modified, AP&P Ref #2022-17, SSAP No. 34 – Investment Income Due and Accrued

Updated: This item adds a new disclosure paragraph for Note 8 – Derivative Instruments and updates the illustrations for a new disclosure to be data captured. It coincides with Ref #2021-20 adopted by the SAPWG to reflect changes to SSAP No. 86 – Derivatives as adopted on August 10, 2022. This adoption is effective January 1, 2023, although early adoption was permitted at year-end 2022.

Effective January 1, 2023

References: 2022-17BWG Modified, AP&P Ref #2021-20, SSAP No. 86 – Derivatives

Updated: This INT provides specific guidance for Annual 2023 reporting (and after) of the 15% Corporate Alternative Minimum Tax (CAMT) that was enacted as part of the Inflation Reduction Act of 2022 (the Act) on August 16, 2022. It addresses accounting, the statutory valuation allowance, admissability, disclosures and the year-end transition. Specific guidance regarding the disclosure of a subsequent event can be found in Paragraph 37.c of the INT.

Effective Annual 2023

References: INT 23-03

Updated: The instructions and illustrations have been updated for Note 12.A(1) – Change in benefit obligation and Note 12.A(2) – Change in plan assets, to provide clarifying guidance regarding data entry and the calculation for the ending balance. This update impacts how data that would decrease the benefit obligation should be entered into the software. For additional information, please see our Note 12 blog post.

Effective Annual 2023

References: NAIC Editorial Revisions to the Blanks and Instructions, Gain Compliance Note 12 Blog Post

Updated: This interpretation prescribes limited-time, optional, statutory accounting guidance, as an exception to the existing guidance detailed in SSAP No. 7 – Asset Valuation Reserve and Interest Maintenance Reserve and the Annual Statement instructions which require nonadmittance of net negative (disallowed) IMR. Paragraph 13 of the INT provides details of the disclosures required for those reporting entities that choose to admit the net negative (disallowed) IMR asset. After reaching out to the NAIC, it has been determined that the disclosures should be captured in Note 21.C – Other Disclosures for Annual 2023 reporting. To review the additional guidance from the NAIC regarding what is required in the Notes to Financials disclosures as well as the complete INT 23-01, please refer to the SAPWG Memo to the Blanks Working Group (BWG).

Effective Q3 2023

References: INT 23-01, SSAP No. 7, SAPWG Memo to the BWG