Another option is to contact the annuity holder and see if you can do a rollover to a self directed IRA. Set your SDIRA up with someone and then have them fill out the papers for the annuity transfer. It is important that the check not come to you, but go directly to the agent holding your SDIRA. You might still have to pay a surrender fee, but you will avoid the 10% penalty and will not lose the tax defered status. If you annuity holder is like most, this will be a difficult process, but you shold be able to accomplish it through persitence and perserverance. I am working on this for my wife's annuity from a 401K. Good luck,G Wayne
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