§6050Z — Title 26 Internal Revenue Code | U.S. Code

§6050Z Reports relating to long-term care premium statements

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 › § 6050Z

Last updated Apr 6, 2026|Official source

Summary

Issuers of certified long-term care insurance must file a report with the IRS by February 1 after the calendar year. For each purchaser the report must show the issuer’s name and tax ID, say that the coverage is certified long-term care insurance, give the owner’s name, identify who is covered and their relationship to the owner, state the premiums paid that year, and include any other information the IRS requires. Issuers must also give each covered person a written statement with the issuer’s contact (name, address, phone) and the total premiums and charges for that person for the year. If a policy covers more than one person, reports and statements must show only the premium amount that applies to the person named. If someone asks before year-end, the issuer must provide the statement then and send a copy to the IRS.

Title 26, §6050Z

Internal Revenue Code — Source: USLM XML via OLRC

(a)Any issuer of certified long-term care insurance (as defined in section 401(a)(39)(C)) who provides a long-term care premium statement with respect to any purchaser pursuant to section 401(a)(39)(E) for a calendar year, shall make a return not later than February 1 of the succeeding calendar year, according to forms or regulations prescribed by the Secretary, setting forth with respect to each such purchaser—

(1)the name and taxpayer identification number of such issuer,

(2)a statement that the coverage is certified long-term care insurance as defined in section 401(a)(39)(C),

(3)the name of the owner of such coverage,

(4)identification of the individual covered and such individual’s relationship to the owner,

(5)the premiums paid for the coverage for the calendar year, and

(6)such other information as the Secretary may require.

(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 issuer of the contract or coverage, and

(2)the aggregate amount of premiums and charges paid under the contract or coverage covering the insured individual during the calendar year.

(c)In the case of contracts or coverage covering more than one insured, the return and statement required by subsections (a) and (b) shall identify only the portion of the premium that is properly allocable to the insured in respect of whom the return or statement is made.

(d)If any individual to whom a return is required to be furnished under subsection (b) requests that such a return be furnished at any time before the close of the calendar year, the person required to make the return under subsection (b) shall comply with such request and shall furnish to the Secretary at such time a copy of the return so provided.

Statutory Notes and Related Subsidiaries

Effective Date

Section applicable to distributions made after the date which is 3 years after Dec. 29, 2022, see section 334(e) of Pub. L. 117–328, set out as an

Effective Date

of 2022 Amendment note under section 72 of this title.

§6050Z Reports relating to long-term care premium statements

Summary

Title 26, §6050Z

Notes & Related Subsidiaries

Statutory Notes and Related Subsidiaries

Effective Date

Effective Date

Citations & Metadata