Information Reporting for Certain Life Insurance Contract Transactions and Modifications to the Transfer for Valuable Consideration Rules; Correction
other · IRS · Rule · Published 2019-12-13 · Effective 2019-12-13 · 84 FR 68042
Document
Document number
2019-26867
Federal Register citation
84 FR 68042
CFR reference
26 CFR 1
Type
Rule
Action
Final regulations; correction.
Category
other
Sub-agency
IRS
Publication date
2019-12-13
Effective date
2019-12-13
Treasury docket
TD 9879
Abstract
This document contains corrections to final regulations (TD 9879) that were published in the Federal Register on Thursday, October 31, 2019. The final regulations provide guidance on new information reporting obligations under section 6050Y related to reportable policy sales of life insurance contracts and payments of reportable death benefits and provide guidance on the amount of death benefits excluded from gross income under section 101 following a reportable policy sale.