9876543210 N-4/A N-4 2021-12-31 9876543210 2020-04-30 2020-04-30 iso4217:USD i:pure vip:year

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
Pre-Effective Amendment No. _____ | ☐
Post-Effective Amendment No. _____ | ☐
and/or
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
Amendment No. _____ | ☐
(Check appropriate box or boxes.)
SEPARATE ACCOUNT VA FOUR CORNERS
(Exact Name of Registrant)
FOUR CORNERS LIFE INSURANCE COMPANY
(Name of Depositor)
Four Mounds Drive, Suite 400 New Bedroom, CT | 07921-9898
(Address of Depositor's Principal Executive Offices) | (Zip Code)
(908) 555-5555
(Depositor's Telephone Number, including Area Code)
Max Headroom, Esq. 4 Four Corners Ave Four Corners Executive Park Wellesley Hills, MA 02481
(Name and Address of Agent for Service)
Approximate Date of Proposed Public Offering: As soon as practicable after the effective date of the Registration statement.

It is proposed that this filing will become effective (check appropriate box):
☐ | immediately upon filing pursuant to paragraph (b)
☐ | on (date) pursuant to paragraph (b)
☐ | 60 days after filing pursuant to paragraph (a)
☐ | on (date) pursuant to paragraph (a)
☐ | 75 days after filing pursuant to paragraph (a)(2) on (date)
☐ | on (date) pursuant to paragraph (a)(2) of rule 485 under the Securities Act.

If appropriate, check the following box:
☐ | this post-effective amendment designates a new effective date for a previously-filed post-effective amendment.

## Item 1. Front and Back Cover Pages

Front Cover Page. Include information on the outside front cover page of the prospectus.

## Item 2. Key Information

Important Information You Should Consider About the Contract.

FEES AND EXPENSES

Charges for Early Withdrawals | If the contract owner withdraws money from the Contract within 7 years following his or her last purchase payment, he or she will be assessed a surrender charge. Surrender charge (as a percentage of Purchase Payments surrendered/withdrawn)1: 7.00% We may also apply an Interest Adjustment to amounts being withdrawn, surrendered or transferred from a Guaranteed Period account (except for dollar cost averaging, cross-reinvestment, withdrawals)up to the Maximum Annual Withdrawal amount. See Fixed Side of the Contract. For example, if you make an early withdrawal, you could pay a surrender charge of up to $7,000 on a $100,000 investment. 1 The surrender charge percentage is reduced over a 7-year period at the following rates: 7%, 7%, 6%, 6%, 5%, 4%, 3%. The later the redemption occurs, the lower the surrender charge with respect to that surrender or withdrawal. We may reduce or waive this charge in certain situations. See Charges and Other Deductions - Surrender Charge.
Transaction Charges | The contract owner may also be charged for other transactions. These include front-end loads (sales charges), back-end loads (redemption fees), charges for transferring Contract value between investment options (exchange fees), and miscellaneous fees for services such as wire transfers.

Ongoing Fees and Expenses (annual charges) | The table below describes the fees and expenses that you may pay each year, depending on the options you choose. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected.

|  | Annual Fee | Minimum | Maximum |
|  | Base Contract (varies by Contract Class) | 1.375% | 2.50% |
|  | Investment options (Portfolio Company fees and expenses) | 3.71% | 4.58% |
|  | Optional benefits available for an additional charge (for a single optional benefit, if elected) | 3.71% | 4.58% |

| Lowest and Highest Annual Cost Table.
| Because your Contract is customizable, the choices you make affect how much you will pay. To help you understand the cost of owning your Contract, the following table shows the lowest and highest cost you could pay each year. This estimate assumes that you do not take withdrawals from the Contract, which could add charges for early withdrawals that substantially increase costs.

|  | Lowest Annual Cost: $220 | Highest Annual Cost: $529 |
|  | Assumes: Investment of $100,000 5% annual appreciation Least expensive combination of Contract Classes and management fees No optional benefits No sales charges No additional purchase payments, transfers or withdrawals | Assumes: Investment of $100,000 5% annual appreciation Most expensive combination of Contract Classes, management fees, and optional benefits No sales charges No additional purchase payments, transfers or withdrawals |

RISKS

Risk of Loss | You may lose money. This is not an FDIC insured deposit.
Not a Short-Term Investment | This is not an appropriate investment for an investment horizon of less than 20 years.
Risks Associated with Investment Options | The value of investments will rise and fall. We try to have long positions while they are rising and short positions when they are falling, but sometimes we get it backwards. We get our pre- and post- positions reversed, at which point we are pre-post-erous.
Insurance Company Risks | Disasters happen, but that is what insurance companies are for. Fire, floods, earthquakes, mud slides, volcanos, tsunamis, lightning, meteor strikes, zombie apocalypse, etc. Our financial strength rating was AAAAA++ as of the end of 2019. This places our company in the top 1 percent of all insurance companies.

RESTRICTIONS

Investments | This is how investments are restricted. They are put on restriction when they perform poorly. This is how investments are restricted.
Optional Benefits | This is how optional benefits are restricted. They are put on restriction when there are too many claims. This is how optional benefits are restricted.

TAXES

Tax Implications | All payments made are subject to federal, state and local taxes in the year each payment is made.

CONFLICTS OF INTEREST

Investment Professional Compensation | Investment professionals compensation may in part be based on sales charges collected.
Exchanges | We endeavor to avoid conflicts upon exchanging funds between investments.

## Item 3. Overview of the Contract

This is a concise description of the Contract.

## Item 4. Fee Table

The following tables describe the fees and expenses that you will pay when buying, owning, and surrendering or making withdrawals from the Contract. Please refer to your Contract specifications page for information about the specific fees you will pay each year based on the options you have elected.

The fee table applies only to the accumulation phase and reflects the maximum charges unless otherwise noted. During the income phase the fees may be different than those described in the Fee Table. Please be certain to review the notes following the fee table and expense examples for further information about the fees and charges presented. See Notes to Fee Table and Expense Examples.

The first table describes the fees and expenses that you will pay at the time that you buy the Contract, surrender or make withdrawals from the Contract, or transfer Contract value between Investment Options. State premium taxes may also be deducted.

Transaction Expenses | First Class | Second Class | Third Class |
| Sales Load Imposed on Purchases (as a percentage of purchase payments) |  | 1.00 | % | 1.00 | % | 1.00 | % |
| Deferred Sales Load (or Surrender Charge) (as a percentage of purchase payments) |  | 1.00 | % | 1.00 | % | 1.00 | % |
| Deferred Sales Load (or Surrender Charge) (as a percentage of amount surrendered) |  | 1.00 | % | 1.00 | % | 1.00 | % |
| Exchange Fee |  | $ 30 |  | $ 40 |  | $ 50 |
| Other (e.g., Expedited Service) Fees |  | $ 5 |  | $ 4 |  | $ 2 |

This would be the text of "Sales Load, Note [Text Block]".

The next table describes the fees and expenses that you will pay each year during the time you own the Contract. Please Note: Third Class shares of this product are no longer available to new policy holders.

If you choose to purchase an optional benefit, you will pay additional charges, as shown below.

Annual Contract Expenses | First Class | Second Class | Third Class |
| Administrative Expenses |  | 1.10 | % | 2.00 | % | 3.00 | % |
| Base Contract Expenses (as a percentage of average account value) |  | 1.20 | % | 2.20 | % | 3.20 | % |
| First Optional Benefit Expense (Percent of Base) |  | 1.30 | % | 2.30 | % | 3.30 | % |
| Second Optional Benefit Expense (Percent of Value) (Not available for Second and Third Classes) |  | 1.40 | % | - |  | - |  |
| Third Optional Rider Expense (for riders issued on or after May 1, 2017 ) |  | 1.50 | % | 2.50 | % | 3.50 | % |
| Fourth Optional Benefit Expense (not available to Second Class share holders after May 1, 2019 ) |  | 1.60 | % | 2.60 | % | - |  |
| Fifth Optional Rider Expense ( 0 % for riders issued to policy holders prior to May 1, 2014 ; 1 % for riders issued from May 1, 2014 to May 1, 2017 ) |  | 1.70 | % | 2.70 |  | - |  |

This text would be for "Expense Reimbursements / Fee Waivers, Note [Text Block]".

Annual Portfolio Company Expenses | Minimum | Maximum |
| (expenses that are deducted from Portfolio Company assets, including management fees, distribution and/or service (12b-1) fees, and other expenses) |  | 1.00 | % | 1.00 | % |

This text would be for "Basis of Percentage [Text Block]".

This text would be for "Portfolio Company Expenses (N-4) [Text Block]".

Example

This Example is intended to help you compare the cost of investing in the Contract with the cost of investing in other variable annuity contracts. These costs include transaction expenses, annual Contract expenses, and Investment Option operating expenses.

The Example assumes that you invest $100,000 in the Contract for the time periods indicated. The Example also assumes that your investment has a 5% return each year and assumes the most expensive combination of Portfolio Company operating expenses and optional benefits available for an additional charge. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:

If you surrender your Contract at the end of the applicable time period: | 1 year | 3 year | 5 year | 10 year |
$0 | $0 | $0 | $0 |

If you surrender your Contract at the end of the applicable time period: | 1 year | 3 year | 5 year | 10 year |
$0 | $0 | $0 | $0 |

If you surrender your Contract at the end of the applicable time period: | 1 year | 3 year | 5 year | 10 year |
$0 | $0 | $0 | $0 |

## Item 5. Risk Factors

This section discusses risks associated with some features of the contract. See “Definition of key terms” earlier in this Prospectus and “Contract features and benefits” later in this Prospectus for more detailed explanations of terms associated with the Structured Investment Option.

There is a risk of a substantial loss of your principal and previously credited interest because you agree to absorb all losses from the portion of any negative Index Performance Rate that exceeds the Segment Buffer on the Segment Maturity Date or Annual Lock Anniversary. The risk of loss of principal and previously credited interest can become greater in the case of a withdrawal (including a systematic withdrawal, a required minimum distribution, or a withdrawal to pay advisory fees under a Series contract), annuitization, death, surrender, contract cancellation, or transfer prior to a Segment Maturity Date due to charges and adjustments imposed on those distributions, and this may occur even if index performance has been positive.

Insurance Company Risk

No company other than this has any legal responsibility to pay amounts that we owe under the contract including amounts allocated to the structured investment option. The general obligations and any guaranteed benefits under the contract are supported by our general account and are subject to our claims paying ability. You should look solely to our financial strength for our claims-paying ability.

Not a short-term investment

The contract is not a short-term investment and is not appropriate for an investor who needs ready access to cash because the contract is designed to provide for the accumulation of retirement savings and income on a long-term basis. As such, you should not use the contract as a short-term investment or savings vehicle and you should consider whether investing in the contract is consistent with the purpose for which the investment is being considered.

## Item 6. General Description of Registrant, Depositor, and Portfolio Companies

This is about the registrant, depositor and portfolio companies.

## Item 7. Charges

A section about charges.

## Item 8. General Description of Contracts

This is a section generally describing the contracts.

## Item 9. Annuity Period

This is a section about the Annuity Period.

## Item 10. Benefits Available Under the Contract

The following tables summarize information about the benefits available under the contract.

Name of Benefit | Purpose | Is Benefit Standard or Optional | Maximum Fee | Current Fee | Brief Description of Restrictions/ Limitations
Guaranteed Minimum Death Benefit | Provide for your loved ones in the event of your tragically untimely demise. | Optional | 0.15% | 0.15% | Not available to residents of Mount Olympus.
Guaranteed Minimum Withdrawal | Ensure you can score a Benjamin, Jackson or even a Sawbuck any time you want. | Optional | 0.05% | 0.05% | None
Guaranteed Minimum Income | An annuity is so much better when it guarantees income, in fact it's kind of the whole point. | Standard | 0.75% | 0.75% | None
Guaranteed Minimum Accumulation | Guarantee a positive outcome. | Optional | 1.00% | 1.00% | None
Unique Benefit | It's an invitation to make a reservation. | Standard | 1.1% | 1.1% | No restrictions.

Description of Benefits

Unique Benefit

This benefit is standard. The benefit operates smoothly when the fee of 1 dollar annually per $1,000,000 of coverage is paid. The calculation of the fee is determined as of each policy anniversary and is rounded up to the nearest whole dollar.

Description of Benefit Restrictions, Limitations, and Risks

Unique Benefit

Limitations and restrictions for these benefits are described here. The risks associated with the benefits are covered in the "Key Information" section on Risks.

## Item 11. Purchases and Contract Value

Purchases and contract values go here.

## Item 12. Surrenders and Withdrawals

Surrenders and withdrawals go here.

## Item 13. Loans

Loans go here.

## Item 14. Taxes

Tax consequences go here.

## Item 15. Legal Proceedings

Material legal proceedings go here.

## Item 16. Financial Statements

Financial Statements go here.

## Item 17. Portfolio Companies Available Under the Contract

The following is a list of Investment Options available under the Contract. More information about the Portfolio Companies is available in the Statutory Prospectus for the Contract, which can be requested at no cost by following the instructions on the front cover page or beginning of the Summary Prospectus.

The current expenses and performance information below reflects contract fees and expenses that are paid by each investor. Each Portfolio Company's past performance is not necessarily an indication of future performance.

Type/ Investment Objective | Portfolio Company and Adviser/ Subadviser | Current Expenses | Platform Charges | Current Expenses (Including Platform Charges) | Average Annual Total Returns (excluding optional benefit expenses (as of 12/31/_)
1 year | 5 year | 10 year
Long-term growth of capital | Portfolio Company A, Peter, Paul & Mary | 1.75% | 1.75% | (left blank) | 5.0% | 27.8% | 63.8%
Current income | Portfolio Company B, Howard, Fine & Howard | (left blank) | 1.75% | 5.00% | 27.84% | 63.76%

Some portfolio companies are not available for all benefits. This is the text of 18(1)(e) Some Portfolio Companies Not Available for all Benefits (N-4) [Text Block]".

Portfolio Company | [Benefit #1] | [Benefit #2] | [Benefit #3] | [Benefit #4]
Portfolio Company A | ☑ | ☑ |  |
Portfolio Company B | ☑ |  |  |
Portfolio Company C |  |  |  |
Portfolio Company D |  |  |  |

There are some temporary fee reductions available for some portfolio companies.

There is a platform charge for investing in portfolio companies.

## Item 18. Cover Page and Table of Contents

## Item 19. General Information and History

## Item 20. Non-Principal Risks of Investing in the Contract

## Item 21. Services

## Item 22. Purchase of Securities Being Offered

## Item 23. Underwriters

## Item 24. Calculation of Performance Data

## Item 25. Annuity Payments

## Item 26. Financial Statements

## Item 27. Exhibits

## Item 28. Directors and Officers of the Depositor

## Item 29. Persons Controlled by or Under Common Control with the Depositor or the Registrant

## Item 30. Indemnification

## Item 31. Principal Underwriters

## Item 32. Location of Accounts and Records

## Item 33. Management Services

## Item 34. Fee Representation

# SIGNATURES

Pursuant to the requirements of the Securities Act of 1933 and the Investment Company Act of 1940, the Registrant (certifies that it meets all of the requirements for effectiveness of this registration statement under rule 485(b) under the Securities Act and) has duly caused this registration statement to be signed on its behalf by the undersigned, duly authorized, in the City of , and State of , on this day of .

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.

| Signature | Title | Date