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Title 26 — Internal Revenue CodeRelease 119-73

§6050U Charges or payments for qualified long-term care insurance contracts under combined arrangements

Title 26 › Subtitle Subtitle F— - Procedure and Administration › Chapter CHAPTER 61— - INFORMATION AND RETURNS › Subchapter Subchapter A— - Returns and Records › Part PART III— - INFORMATION RETURNS › Subpart Subpart B— - Information Concerning Transactions With Other Persons › § 6050U

Last updated Apr 6, 2026|Official source

Summary

If you charge the cash value of an annuity or the cash surrender value of a life insurance contract that is excluded from income under section 72(e)(11), you must file a return on the forms the Secretary requires. The return must show the total charges for each contract that year, how much each contract’s investment was reduced, and the contract holder’s name, address, and tax identification number. You must also give each affected person a written statement with your contact name, address, and phone number, plus the same contract information you reported to the government.

Full Legal Text

Title 26, §6050U

Internal Revenue Code — Source: USLM XML via OLRC

(a)Any person who makes a charge against the cash value of an annuity contract, or the cash surrender value of a life insurance contract, which is excludible from gross income under section 72(e)(11) shall make a return, according to the forms or regulations prescribed by the Secretary, setting forth—
(1)the amount of the aggregate of such charges against each such contract for the calendar year,
(2)the amount of the reduction in the investment in each such contract by reason of such charges, and
(3)the name, address, and TIN of the individual who is the holder of each such contract.
(b)Every person required to make a return under subsection (a) shall furnish to each individual whose name is required to be set forth in such return a written statement showing—
(1)the name, address, and phone number of the information contact of the person making the payments, and
(2)the information required to be shown on the return with respect to such individual.

Legislative History

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable to contracts issued after Dec. 31, 1996, but only with respect to taxable years beginning after Dec. 31, 2009, and to charges made after Dec. 31, 2009, see section 844(g)(1), (3) of Pub. L. 109–280, set out as an

Effective Date

of 2006 Amendment note under section 72 of this title.

Reference

Citations & Metadata

Citation

26 U.S.C. § 6050U

Title 26 — Internal Revenue Code

Last Updated

Apr 6, 2026

Release point: 119-73