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Title 26, Internal Revenue CodeRelease 119-110

§6039I Returns and Records with Respect to Employer-owned Life Insurance Contracts

Title 26 › Subtitle F — Procedure and Administration › CHAPTER 61 — INFORMATION AND RETURNS › Subchapter A — Returns and Records › PART III — INFORMATION RETURNS › Subpart A — Information Concerning Persons Subject to Special Provisions › § 6039I

Last updated Sep 22, 2026|Official source

Summary

Applicable policyholders who own 1 or more employer-owned life insurance contracts issued after the date of the enactment of this section must file a yearly return as the Secretary requires. The return must show year-end employee count; year-end insured count; total insurance in force at year-end; the policyholder’s name, address, taxpayer identification number, and business type; and whether valid consent was obtained for each insured employee or how many consents are missing. Policyholders must keep records to prove compliance. Terms used here that appear in section 101(j) mean the same as in section 101(j).

Full Legal Text

Title 26, §6039I

Internal Revenue Code, Source: USLM XML via OLRC

(a)In general
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—
(1)the number of employees of the applicable policyholder at the end of the year,
(2)the number of such employees insured under such contracts at the end of the year,
(3)the total amount of insurance in force at the end of the year under such contracts,
(4)the name, address, and taxpayer identification number of the applicable policyholder and the type of business in which the policyholder is engaged, and
(5)that the applicable policyholder has a valid consent for each insured employee (or, if all such consents are not obtained, the number of insured employees for whom such consent was not obtained).
(b)Recordkeeping requirement
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.
(c)Definitions
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).

Legislative History

Notes & Related Subsidiaries

Editorial Notes

References in Text

The 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 Date

Section 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.

Reference

Citations & Metadata

Citation

26 U.S.C. § 6039I

Title 26, Internal Revenue Code

Last Updated

Sep 22, 2026

Release point: 119-110