General Questions

Question: Are Mutual Funds insured?

Shares of the Portfolios are not bank deposits and are not guaranteed or insured by any bank or SunAmerica or SunAmerica's affiliates, government entity or the Federal Deposit Insurance Corporation.

Question: How often do SunAmerica's mutual funds pay dividends?

Dividends can be paid monthly, quarterly or annually depending on the fund you own. For additional information, contact your financial representative or refer to the Fund Prospectus.

Question: Who can transact on a client's account?

For the protection of our shareowners, only the registered owner(s) or the financial representative listed on an account can access a mutual fund account held at SunAmerica. The broker's assistant can also transact on the rep's behalf, and will need to verify the rep number on the account.

Commission Questions

Question: How is the "Average Eligible Daily Assets" section on my trail statement calculated?

Trails are paid based on the average balance of an account over the entire month. This is simply done by adding up the daily balances for a given month then dividing that sum by the number of days in the month.

Question: How often are trail commissions and statements sent to the representative?

Trail commissions and statements are sent monthly, around the second week of the following month.

Question: What trail percentage does SunAmerica Capital Services pay for Classes A, B and C?

The trail percentage payments for Classes A, B and C are as follows:

  • Equity & Fixed Income Funds Class A = 25 BPS or .25%. Paid immediately.
  • Equity & Fixed Income Funds Class B = 25 BPS or .25%. Paid in the 13th month after purchase.
  • Equity & Fixed Income Funds Class C = 100 BPS or 1%. Paid in the 13th month after purchase.
  • Senior Floating Rate Class C = 75BPS. Paid in the 13th month after purchase.
Question: I have not been paid for purchases my client made. Whom should I speak to about this?

Please contact the commissions area of your back office, as all payments are sent to them directly.

Question: How often does SunAmerica pay commissions and trails?

We pay commissions for trades every week. This is sent to your back office the Wednesday following the confirmation date of each trade. Trail commissions are paid monthly.

Question: Please explain why my Monthly Service Fee Update (12b-1) statement does not reflect some of my client's accounts.

Typically, those clients not listed are those who have purchased class B or C shares. These purchases are not eligible for trails until the 13th month. From time to time, you may see that you have been paid a trail on a class B or C purchase that is less than 13 months old, and that the trail is based on a small amount. The reason for this is that you will receive trails based on reinvested dividends/capital gains paid out by the fund in the first 13 months.

Purchase and Redemption Questions

Question: Can I have my client's dividend or redemption checks mailed directly to their loan company, car insurer, etc.?

Yes, dividend or redemption checks can be made payable to a third party. SunAmerica Mutual Funds requires a Medallion Signature Guaranteed letter of instruction, signed by the shareowner(s), indicating payment instructions.

Question: If one person dies on a joint account, and the surviving tenant wishes to redeem the account, will the CDSC fee be waived?

The CDSC fee will be waived if the redemption is requested within one year of the death of the shareholder, and only if the surviving tenant is the spouse of the deceased.

Question: Does SunAmerica Mutual Funds offer direct purchase or deposit?

Yes, SunAmerica Mutual Funds can establish a systematic purchase or redemption plan, which will draft funds from your client's checking or savings account. Please contact a Customer Service Representative or your Financial Advisor for additional information.

Retirement Plans Questions

Question: Can I re-register a retirement account as a trust?

No. However, you can name the Trust as the primary beneficiary.

Question: How do I request that the redemption proceeds from an account be sent to an address other than the address SunAmerica has on file for me?

We will require a Medallion Signature Guaranteed letter of instruction signed by all account owners.

Question: How do I process a Transfer-In-Kind?

In order to process a Transfer-In-Kind, we will require complete re-registration instructions, including address, broker/dealer information, and Tax ID number.

Question: If the shareholder passes away and there is no Beneficiary Designation on file, what is needed to liquidate an account?

If there is no Beneficiary Designation on file, in order to liquidate an account we will need:

  1. A SunAmerica Change of Ownership Form affixed with a Medallion Guarantee Stamp.

*Additional Paperwork may be required by Medallion Guarantor

Question: What is the penalty for withdrawing money early from my IRA/ROTH/403b account?

You will incur a 10% penalty by the IRS upon tax filing if money is redeemed before age 59 ½ . A redemption from a 403b account will incur a mandatory 20% withholding.

Question: To what mailing address should correspondence be sent?

Mail correspondence to:

SunAmerica Fund Services
c/o BFDS
PO Box 219186
Kansas City, MO 64121-9186

For Overnight, certified or registered mail, please send to:

SunAmerica Fund Services
c/o BFDS
330 W. 9th Street
Kansas City, MO 64105-1514

Question: Is the shareowner signature required to change a primary beneficiary on the account?

Yes. Depending upon the request, we would require one of the following:

  1. A SunAmerica Change of Beneficiary form signed by the shareowner

Dealer/Branch/Rep Changes Questions

Question: What if the representative only wants to change either the branch office address or the representative number/name?

The representative will be required to submit a Letter of Instruction on broker/dealer letterhead, signed by the branch office manager or OSJ, stating the changes that are to take place. Please include both current and new information. This information can be faxed to 201.324.6424, attn: Dealer Updates.

Question: Can I change my branch address, and/or add my name or rep number to an account over the telephone?

Branch address changes, name additions and rep number changes should be requested in writing. This request should be on company letterhead of your Broker/Dealer firm and should be signed by the OSJ or the Branch Manager. This information can be faxed to 201.324.6424, attn: Dealer Updates.

Question: What is the procedure for a representative to change the broker/dealer information on all of their clients' accounts?

SunAmerica requires that the representative submit a Block Transfer Form signed by an officer of the current broker/dealer firm, relinquishing the accounts; and by an officer of the new broker/dealer firm, accepting the assets. Both signatures must be Medallion Guaranteed. Otherwise, we will require a Letter of Instruction signed by the individual client, stating the representative's name, broker/dealer and branch office address.

Legal Document Questions

Question: How do I change a beneficiary on a Transfer on Death (TOD) account?

A SunAmerica Transfer on Death (TOD) Beneficiary Designation Request signed by the shareowner(s).

Question: What is needed for a Transfer in Kind?
  • Letter of acceptance from new custodian indicating transfer in kind.
  • Must be signed by shareholder and an authorized person from accepting custodian.
  • Re-registration to new account.
Question: What happens when a minor reaches the age of majority (Legal Age)?

Once a Minor reaches the age of majority (age various depending on State of residence of minor), the following is required; A SunAmerica Medallion Guarantee Form affixed with a medallion guarantee signed by either the custodian or minor.

  • Copy of driver’s license or birth certificate required.
  • Additional Paperwork may be required by Medallion Guarantor.
Question: How do I add or remove a name from an account (Joint or Individual) excluding death of a shareowner?
  1. A SunAmerica Medallion Guarantee form signed by the shareowner(s) affixed with a medallion guarantee.
  2. A SunAmerica Anti-Money Laundering Supplemental Application filled out by individual(s) being added to account.
  3. If taxable parties are changing a SunAmerica new account application is required.

* Additional Paperwork may be required by Medallion Guarantor.

Question: What happens to an account in the name of a child (UGMA or UTMA) if the Custodian passes away?

1. If Minor is of legal age (depends on State of residence of minor) we would need:

  • A SunAmerica Medallion Guarantee Form affixed with a medallion guarantee signed by the minor.

2. If Minor is 14 years old or older, but under legal age, he or she can appoint their own custodian. To do so, we would require:

  • A SunAmerica Medallion Guarantee Form affixed with a medallion guarantee signed by the new custodian indicating capacity and accepting this responsibility.
  • A SunAmerica Anti-Money Laundering Supplemental Application filled out by new custodian.
  • Copy of Birth certificate of the minor.

3. If Minor is under 14 years old, we would need the following:

  • A SunAmerica Medallion Guarantee Form affixed with a medallion guarantee signed by the new custodian.
  • A SunAmerica Anti-Money Laundering Supplemental Application filled out by new custodian.
  • Copy of Birth certificate of the minor

4. If no successor Custodian was appointed, we would need:

  • A SunAmerica Medallion Guarantee Form affixed with a medallion guarantee signed by the new custodian.
  • A SunAmerica Anti-Money Laundering Supplemental Application filled out by new custodian.
  • Copy of Birth certificate of the minor.

*Additional Paperwork may be required by Medallion Guarantor.

*Note: We will not police redemption requests from the custodian. It is their responsibility to use monies for the benefit of the minor.

Question: What is needed for a name change due to marriage or divorce?

1. A SunAmerica Name Change form signed by the shareowner affixed with a medallion guarantee.

     OR

2. A Medallion Signature Guaranteed letter of instruction indicating the reason for the name change and stating in the body of the letter "I hereby certify that ________ and ________ are one and the same person".

     OR

3. A Certified copy of the Marriage Certificate or Divorce Decree along with a SunAmerica Medallion Guarantee Form.

*Additional Paperwork may be required by Medallion Guarantor.

Statements, Confirmations, or Tax Form Questions

Question: My client did an exchange between funds last year, and received a 1099-B. Why would they receive this tax form? Why didn't they receive this form for shares sold out of their Money Market account?

A 1099-B will reflect all redemptions in a shareholder's account. This would include exchange redemptions, since it is a taxable event. If shares are sold from a Money Market account, no 1099-B would be issued, since the share price does not change in that fund. Please note that brokers do not receive a copy of the shareholder's tax forms.

Question: When should we expect statements to be sent to us and to the client?

Statement confirms for financial transactions such as redemptions, purchases, exchanges, etc. are sent as these trades are executed in the individual shareholder account. Systematic purchase/redemption activity and all other account activity will be reported in the consolidated statement, mailed quarterly to shareholders and representatives.

Transaction Requirements and Procedures

Question: Can I exchange funds between different classes of shares?

No. Share exchanges are only allowed within the same class.

Question: If the Trustee of a Trust account passes away, how can the shares held in that account be liquidated or re-registered?
Question: If a shareholder has an existing account, but wishes to invest in a new fund, would they need to complete a new application?