Recurring Task with Annual Frequency

[#1]

My group has several tasks that occurs annually to which I would prefer setting-up as recurring task on an annual basis. This feature would eliminate unnecessary time spend on creating individual task for each action item each year. Is there an option for annual frequency? 

[#2]

In that scenario, I would configure the Recurring Task screen to say that the task occurs 'every 12 months' for X number of occurrences. So my screenshot below would get 5 years of recurring tasks on the 1st of every July.