26 USC 6039I - Returns and records with respect to employer-owned life insurance contracts

U.S Code last checked for updates: May 05, 2024

§ 6039I.

Returns and records with respect to employer-owned life insurance contracts

(a)

In general

Every applicable policyholder owning 1 or more employer-owned life insurance contracts issued after the date of the enactment of this section shall file a return (at such time and in such manner as the Secretary shall by regulations prescribe) showing for each year such contracts are owned—

(1)

the number of employees of the applicable policyholder at the end of the year,

(2)

the number of such employees insured under such contracts at the end of the year,

(3)

the total amount of insurance in force at the end of the year under such contracts,

(4)

the name, address, and taxpayer identification number of the applicable policyholder and the type of business in which the policyholder is engaged, and

(5)

that the applicable policyholder has a valid consent for each insured employee (or, if all such consents are not obtained, the number of insured employees for whom such consent was not obtained).

(b)

Recordkeeping requirement

(c)

Definitions

(Added Pub. L. 109–280, title VIII, § 863(b), Aug. 17, 2006, 120 Stat. 1023.)

cite as: 26 USC 6039I