H.R. 10234 — CLEAR Forms Act

This section requires the Securities and Exchange Commission to propose within 12 months and finalize within 30 months of enactment rules establishing one or more registration forms for contingent deferred annuities, registered index-linked life insurance, and other registered non-variable insurance contracts. It limits required disclosures and financial statements to those in existing Forms N-3 and N-4, mandates investor testing for contingent deferred annuities, and permits use of those forms if the Commission misses the 30-month deadline.