Annuity contract owner is the person or entity that holds legal rights over an annuity contract, including the authority to make premium payments, select investments or crediting strategies, change beneficiaries, elect payout options, and surrender or exchange the contract. The owner may be the same as the annuitant, or it may be a different individual, trust, or business. Ownership determines who receives tax reporting on Form 1099-R and who has control over contract decisions during the ownerTMs lifetime. In estate and business planning, the choice of annuity contract owner affects control, taxation, and how smoothly benefits pass to heirs or successors.

Advisors emphasize the role of the annuity contract owner when structuring annuities within trusts, businesses, or spousal planning scenarios. They clarify distinctions between owner, annuitant, and beneficiary so clients understand who controls the asset and who is taxed on distributions. For example, in a trust-owned annuity, the trust as owner may receive the 1099-R, while beneficiaries receive payments under trust terms. Advisors also review ownership when clients marry, divorce, or update estate plans, making changes when necessary to align with new goals. Understanding annuity contract ownership helps advisors design arrangements that provide appropriate control and tax treatment while avoiding unintended consequences such as triggering taxable events or violating "nonnatural owner" rules for certain contracts.