CLEAR Forms Act
Sponsored By: Representative Nunn, Zachary [R-IA-3]
In Committee
Summary
Consumer-focused registration forms for certain non-variable insurance contracts. This bill would create a new part of the Securities Act that sets form, disclosure, and testing rules for contingent deferred annuities, registered index-linked life insurance, and similar registered insurance products issued by insurers.
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Bill Overview
Analyzed Economic Effects
2 provisions identified: 1 benefits, 0 costs, 1 mixed.
Clearer annuity and insurance disclosures
This bill would require the SEC to design new registration forms so buyers can understand them. The SEC would conduct investor testing for contingent deferred annuities and use results to shape form design. Forms would be required to show key consumer facts in plain terms, such as triggers for lifetime payments, index-linked returns, market value adjustments, and fees.
New SEC filing rules for insurers
This bill would add a new section to the Securities Act to cover certain insurance contracts and would require the SEC to propose registration forms within 12 months and finalize them within 30 months. If the SEC misses the 30-month deadline, issuers could temporarily use existing forms in 17 CFR 239.17b and 239.17c until new rules are final. The SEC would be directed to align the new rules with existing prospectus, fee, and filing-effectiveness frameworks. The bill would also limit insurer-specific information the SEC may seek to what those existing forms request and would protect the availability of the 17 CFR 240.12h-7 exemption; it would not preempt state insurance laws.
Sponsors & CoSponsors
Sponsor
Nunn, Zachary [R-IA-3]
IA • R
Cosponsors
Rep. Pettersen, Brittany [D-CO-7]
CO • D
Sponsored 9/2/2026
Rep. Fitzgerald, Scott [R-WI-5]
WI • R
Sponsored 9/10/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov