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-
Each applicable policyholder owning 1 or more employer-owned life insurance contracts during any year shall keep such records as may be necessary for purposes of determining whether the requirements of this section and section 101(j) are met.
Any term used in this section which is used in section 101(j) shall have the same meaning given such term by section 101(j).
26 U.S.C. § 6039I
EDITORIAL NOTES
REFERENCES IN TEXTThe date of the enactment of this section, referred to in subsec. (a), is the date of enactment of Pub. L. 109-280, which was approved Aug. 17, 2006.
STATUTORY NOTES AND RELATED SUBSIDIARIES
EFFECTIVE DATESection applicable to life insurance contracts issued after Aug. 17, 2006, except for a contract issued after such date pursuant to an exchange described in section 1035 of this title for a contract issued on or prior to that date, and any material change to cause the contract to be treated as a new contract, with exception in the case of a master contract, see section 863(d) of Pub. L. 109-280, set out as an Effective Date of 2006 Amendment note under section 101 of this title.
- Secretary
- The term "Secretary" means the Secretary of the Treasury or his delegate.
- taxpayer
- The term "taxpayer" means any person subject to any internal revenue tax.