Form 485BPOS LINCOLN NATIONAL VARIABL
As filed with the Securities and Exchange Commission on July 25, 2025
1933 Act Registration No. 033-25990
1940 Act Registration No. 811-03214
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-4
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 71
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 197
Lincoln National Variable Annuity Account C
(Exact Name of Registrant)
(Exact Name of Registrant)
Multi-Fund®
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
(Name of Depositor)
(Name of Depositor)
1301 South Harrison Street
Fort Wayne, Indiana 46802
(Address of Depositor’s Principal Executive Offices)
Fort Wayne, Indiana 46802
(Address of Depositor’s Principal Executive Offices)
Depositor’s Telephone Number, Including Area Code: (260) 455-2000
Craig T. Beazer, Esquire
The Lincoln National Life Insurance Company
150 North Radnor Chester Road
Radnor, PA 19087
(Name and Address of Agent for Service)
The Lincoln National Life Insurance Company
150 North Radnor Chester Road
Radnor, PA 19087
Copy to:
Jassmin McIver-Jones, Esquire
The Lincoln National Life Insurance Company
1301 South Harrison Street
Fort Wayne, Indiana 46802
The Lincoln National Life Insurance Company
1301 South Harrison Street
Fort Wayne, Indiana 46802
Approximate Date of Proposed Public Offering: Continuous
It is proposed that this filing will become effective:
/X/ immediately upon filing pursuant to paragraph (b) of Rule 485
/ / on May 1, 2025, pursuant to paragraph (b) of Rule 485
/ / 60 days after filing pursuant to paragraph (a)(1) of Rule 485
/ / on __________, pursuant to paragraph (a)(1) of Rule 485
Title of Securities being registered:
Interests in a separate account under individual flexible payment deferred variable annuity contracts.
Interests in a separate account under individual flexible payment deferred variable annuity contracts.
THE LINCOLN NATIONAL LIFE INSURANCE COMPANY
Lincoln National Variable Annuity Account C
Multi-Fund®
Lincoln Life Variable Annuity Account Q
Multi-Fund® Group
Supplement dated July 25, 2025 to the Prospectus dated May 1, 2025
This Supplement to your prospectus outlines important changes that become effective on and after August 18, 2025. These changes are related to Appendix A – Funds Available Under The Contract. All other provisions
outlined in your variable annuity prospectus, as supplemented, remain unchanged.
The following line item is added to Appendix A – Funds Available Under the Contract:
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Investment Objective
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Fund and Adviser/Sub-adviser
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Current Expenses
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Average Annual Total
Returns (as of 12/31/2024)
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||
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1 year
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5 year
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10 year
|
|||
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A balance between a high level of current income and growth of capital, with an emphasis on growth of capital. A fund of funds.
|
LVIP Structured Moderate Allocation Fund – Standard Class
advised by Lincoln Financial Investments Corporation |
0.56%
|
9.41%
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5.77%
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5.60%
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You can find the fund prospectus and other information about the Contract online at www.lfg.com/VAprospectus. You can also obtain information at no cost by contacting your registered representative or by sending an
email request to [email protected].
Please retain this supplement for future reference.
Part A
The Prospectus for the Multi-Fund® variable annuity contract, as supplemented, is incorporated
herein by reference to Post-Effective Amendment No. 70 (File No.
033-25990) filed on April 22, 2025, and to the definitive 497 Filing filed on May 1, 2025.
Part B
The Statement of Additional Information for the Multi-Fund® variable annuity contract, including the consolidated
financial statements of Lincoln Life and the financial statement of Lincoln National Variable Annuity Account C, is incorporated herein by reference to Post-Effective Amendment No. 70 (File No.
033-25990) filed on April 22, 2025, and to the definitive 497 Filing filed on May 1, 2025.
Lincoln National Variable Annuity Account C
PART C - OTHER INFORMATION
Item 27. Exhibits
(b) Not Applicable.
(f)(1) Articles of Incorporation of The Lincoln National Life Insurance Company incorporated herein by reference to Pre-Effective Amendment No. 1 (File No. 333-04999) filed on September 25, 1996.
(g)(1) Third Amended and Restated Automatic Indemnity Reinsurance Agreement dated January 1, 2023, between The Lincoln National Life Insurance Company and Lincoln National Reinsurance Company (Barbados) Limited
incorporated herein by reference to Post-Effective Amendment No. 20 (File
No. 333-212680) filed on April 14, 2023.
(i) Amendment
No. 1 to Third Amended and Restated Automatic Indemnity Reinsurance Agreement dated January 1, 2023, between The Lincoln National Life Insurance Company and Lincoln National Reinsurance Company (Barbados) Limited incorporated herein by reference to Post-Effective Amendment No. 16 (File No. 333-212682) filed on February 2, 2024.
(ii) Amendment No. 2 to the Third Amended and Restated Automatic Indemnity Reinsurance Agreement dated January 1, 2023, between The Lincoln National Life Insurance Company and Lincoln National Reinsurance
Company (Barbados) Limited incorporated herein by reference to
Post-Effective Amendment No. 20 (File No. 333-212682) filed on April 10, 2025.
(iii) Amendment No. 3 to the Third Amendment and Restated Automatic Indemnity Reinsurance Agreement dated January 1, 2023, between The Lincoln National Life Insurance Company and Lincoln National
Reinsurance Company (Barbados) Limited incorporated herein by reference
to Post-Effective Amendment No. 20 (File No. 333-212682) filed on April 10, 2025.
(h) Fund Participation Agreements and Amendments between The Lincoln National Life Insurance Company and:
(i) Accounting
and Financial Administration Services Agreement dated January 1, 2019 among State Street Bank and Trust Company, The Lincoln National Life Insurance Company and Lincoln Life & Annuity Company of New York is incorporated herein by reference to Post-Effective Amendment No. 36 on Form N-6 (File No. 333-125790) filed on April 12, 2019.
(j) Rule 22c-2 Agreements between The Lincoln National Life Insurance Company and:
B-3
(2) Delaware VIP Trust incorporated herein by reference to Post-Effective Amendment No. 57 (File No. 333-36316) filed on March 30, 2012.
(m) Not Applicable
(n) Not Applicable
(o) Not Applicable
Item 28. Directors and Officers of the Depositor
The following list contains the officers and directors of The Lincoln National Life Insurance Company who are engaged directly or indirectly in
activities relating to Lincoln National Variable Annuity Account C as well as the contracts. The list also shows The Lincoln National Life Insurance Company's executive officers.
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Name
|
Positions and Offices with Depositor
|
|
Craig T. Beazer*
|
Executive Vice President, General Counsel and Director
|
|
Jayson R. Bronchetti*
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Executive Vice President, Chief Investment Officer and Director
|
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Adam M. Cohen*
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Senior Vice President, Chief Accounting Officer and Treasurer
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Ellen G. Cooper*
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President and Director
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Stephen B. Harris*
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Senior Vice President and Chief Ethics and Compliance Officer
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Christopher M. Neczypor*
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Executive Vice President, Chief Financial Officer and Director
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Nancy A. Smith*
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Senior Vice President and Secretary
|
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Joseph D. Spada**
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Vice President and Chief Compliance Officer for Separate Accounts
|
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Eric B. Wilmer***
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Assistant Vice President and Director
|
*Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087
**Principal business address is 350 Church Street, Hartford, CT 06103
***Principal business address is 1301 South Harrison Street, Fort Wayne, IN 46802
Item 29. Persons Controlled by or Under Common Control with the Depositor or Registrant
See Exhibit (p) above: Lincoln National Corporation Organization Chart
Item 30. Indemnification
a) Brief description of indemnification provisions.
In general, Article VII of the By-Laws of The Lincoln National Life Insurance Company (Lincoln Life or Company) provides that Lincoln Life will
indemnify certain persons against expenses, judgments and certain other specified costs incurred by any such person if he/she is made a party or is threatened to be made a party to a suit or proceeding because he/she was a director,
officer, or employee of Lincoln Life, as long as he/she acted in good faith and in a manner he/she reasonably believed to be in the best interests of, or act opposed to the best interests of, Lincoln Life. Certain additional
conditions apply to indemnification in criminal proceedings.
B-4
In particular, separate conditions govern indemnification of directors, officers, and employees of Lincoln Life in connection with
suits by, or in the right of, Lincoln Life.
Please refer to Article VII of the By-Laws of Lincoln Life (Exhibit no. f(b) hereto) for the full text of the indemnification provisions.
Indemnification is permitted by, and is subject to the requirements of, Indiana law.
b) Undertaking pursuant to Rule 484 of Regulation C under the Securities Act of 1933:
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of
the Registrant pursuant to the provisions described in Item 28(a) above or otherwise, the Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer, or
controlling person of the Registrant in the successful defense of any such action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant
will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in
the Act and will be governed by the final adjudication of such issue.
Item 31. Principal Underwriter
(a) Lincoln Financial Distributors, Inc. (“LFD”) currently serves as Principal Underwriter for: Lincoln National Variable Annuity Account C; Lincoln
National Flexible Premium Variable Life Account D; Lincoln National Variable Annuity Account E; Lincoln National Flexible Premium Variable Life Account F; Lincoln National Flexible Premium Variable Life Account G; Lincoln National
Variable Annuity Account H; Lincoln Life & Annuity Variable Annuity Account H; Lincoln Life Flexible Premium Variable Life Account J; Lincoln Life Flexible Premium Variable Life Account K; Lincoln National Variable Annuity Account
L; Lincoln Life & Annuity Variable Annuity Account L; Lincoln Life Flexible Premium Variable Life Account M; Lincoln Life & Annuity Flexible Premium Variable Life Account M; Lincoln Life Variable Annuity Account N; Lincoln New
York Account N for Variable Annuities; Lincoln Life Variable Annuity Account Q; Lincoln Life Flexible Premium Variable Life Account R; LLANY Separate Account R for Flexible Premium Variable Life Insurance; Lincoln Life Flexible
Premium Variable Life Account S; LLANY Separate Account S for Flexible Premium Variable Life Insurance; Lincoln Life Variable Annuity Account T; Lincoln Life Variable Annuity Account W; and Lincoln Life Flexible Premium Variable Life
Account Y and Lincoln Life & Annuity Flexible Premium Variable Life Account Y; Lincoln Life Variable Annuity Account JF-H; Lincoln Life Variable Annuity Account JF-I; Lincoln Life Flexible Premium Variable Life Account JF-A;
Lincoln Life Flexible Premium Variable Life Account JF-C; Lincoln Life Variable Annuity Account JL-A; Lincoln Life & Annuity Flexible Premium Variable Life Account JA-B; Lincoln Variable Insurance Products Trust; Lincoln Advisors
Trust.
(b) Officers and Directors of Lincoln Financial Distributors, Inc.:
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Name
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Positions and Offices with Underwriter
|
|
Adam M. Cohen*
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Senior Vice President and Treasurer
|
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Jason M. Gibson**
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Vice President and Chief Compliance Officer
|
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Claire H. Hanna*
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Secretary
|
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John C. Kennedy*
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President, Chief Executive Officer and Director
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Jared M. Nepa*
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Senior Vice President and Director
|
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Timothy J. Seifert Sr*
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Senior Vice President and Director
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*Principal business address is 150 N. Radnor-Chester Road, Radnor, PA 19087
**Principal business address is 1301 South Harrison Street, Fort Wayne, IN 46802
(c) N/A
Item 32. Location of Accounts and Records
This information is provided in the Registrant’s most recent report on Form N-CEN.
Item 33. Management Services
Not Applicable.
Item 34. Fee Representation
Lincoln Life represents that the fees and charges deducted under the contracts, in the aggregate, are reasonable in relation to the services rendered,
the expenses expected to be incurred, and the risks assumed by Lincoln Life.
B-5
SIGNATURES
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(a)
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As required by the Securities Act of 1933 and the Investment Company Act of 1940, each Registrant certifies that it meets the requirements of Securities Act Rule 485(b) for effectiveness of these registration statements and has
caused these Post-Effective Amendments to the registration statements to be signed on its behalf, in the City of Fort Wayne, and the State of Indiana on this 18th day of July, 2025 at 8:35 am.
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Lincoln National Variable Annuity Account C
Lincoln Life Variable Annuity Account Q
(Registrants)
By: /s/ John D. Weber
John D. Weber
Vice President, The Lincoln National Life Insurance Company
Signed on its behalf, in the City of Hartford, and the State of Connecticut on this 18th day of July, 2025 at 7:57 am.
The Lincoln National Life Insurance Company
(Depositor)
By: /s/ Matthew L. Condos
Matthew L. Condos
(Signature-Officer of Depositor)
Senior Vice President, The Lincoln National Life Insurance Company
Lincoln National Variable Annuity Account C (File No. 811-03214; CIK: 0000353894)
|
033-25990 (Amendment No. 71)
|
Lincoln Life Variable Annuity Account Q (File No. 811-08569; CIK: 0001048604)
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333-43373 (Amendment No. 37)
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(b)
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As required by the Securities Act of 1933, these Amendments to the registration statements have been signed by the following persons in their capacities indicated on July 18, 2025 at 8:35 am.
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Signature
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Title
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*/s/ Ellen G. Cooper
Ellen G. Cooper
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President and Director
(Principal Executive Officer)
|
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*/s/ Christopher M. Neczypor
Christopher M. Neczypor
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Executive Vice President, Chief Financial Officer, and Director
|
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* /s/ Craig T. Beazer
Craig T. Beazer
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Executive Vice President and Director
|
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* /s/ Jayson R. Bronchetti
Jayson R. Bronchetti
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Executive Vice President, Chief Investment Officer, and Director
|
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* /s/ Adam M. Cohen
Adam M. Cohen
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Senior Vice President and Chief Accounting Officer (Principal Accounting Officer)
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*/s/ Eric B. Wilmer
Eric B. Wilmer
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Assistant Vice President and Director
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* By: /s/ John D. Weber, Pursuant to a Power of Attorney
John D. Weber
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ATTACHMENTS / EXHIBITS
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