IRS Seeks Input on Long-Term Care Premium Form: Paperwork Overhaul Alert
Published Date: 4/8/2026
Notice
Summary
The IRS wants your thoughts on a new form called the Long-Term Care Premiums Paid Statement (Form 1099-LPS). This form will help track long-term care insurance premiums, affecting insurance companies and taxpayers who pay these premiums. Comments are open until June 8, 2026, so jump in now to help shape this new paperwork and keep things clear and simple!
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
New Form 1099-LPS for LTC Premiums
The IRS is creating Form 1099-LPS (Long-Term Care Premiums Paid Statement) to report long-term care insurance contracts under IRC sections 401(a)(39)(E) and 6050Z. The form is being submitted for new OMB approval (OMB Control No. 1545-NEW); comments are due June 8, 2026. The notice lists affected public as individuals and households and estimates 115 respondents, 12 minutes per response, and 23 total annual burden hours.
Insurers Must File Form 1099-LPS
Issuers of certified long-term care insurance that file long-term care premium statements will use Form 1099-LPS to report contracts. The IRS estimates 115 respondents and 115 responses, at 12 minutes per response, for a total annual burden of 23 hours; the collection is submitted as a new OMB approval (1545-NEW) and is open for comments through June 8, 2026.
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