What Documents Are Needed to Sell a Structured Settlement?
Quick Answer
To sell your structured settlement you need: your original settlement agreement or annuity policy, a government-issued photo ID, proof of current address, your Social Security number, and recent payment statements from the annuity company. The buyer handles all court filings, but you must provide these 5 documents to start.
Key Statistic
5 core documents needed to begin the process
Expert Analysis
Here's the complete document checklist with details on each: 1) Settlement Agreement / Annuity Contract: This is the original document from your case. If you've lost it, your attorney or the annuity company (often MetLife, Prudential, or Berkshire) can provide a copy. Allow 1-2 weeks for replacement. 2) Government Photo ID: Driver's license, state ID, or passport. Must be current and not expired. 3) Proof of Address: Utility bill, bank statement, or lease agreement dated within 60 days. 4) Social Security Number: Needed for tax reporting (even though most sales are tax-free, the IRS requires reporting). 5) Payment Statements: Recent documentation showing your payment amount, frequency, and remaining schedule.
Additional documents that speed up the process: Recent bank statement (shows where funds should be deposited). Signed disclosure statement (buyer provides this). Independent Professional Advice (IPA) letter (required in some states buyer typically arranges this).
Don't have your original settlement documents? Don't worry approximately 30% of sellers have lost theirs. Your buyer can usually obtain copies through the annuity company or court records.
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