I suspected that that might be the case, but it still would probably more straightforward to have the funds deposited into the IRA and then transfer the IRA. With you never having had constructive receipt of the funds, no reporting would be required, no distribution or rollover.
If you do get constructive receipt of the funds, I think it would be appropriate to treat the transfer as a completed transfer and file a substitute 2026 Form 1099-R (Form 4852) next year indicating that Corebridge made an IRA distribution to you.
