§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 61— INFORMATION AND RETURNS › Subchapter A— Returns and Records › Part III— INFORMATION RETURNS › Subpart B— Information Concerning Transactions With Other Persons › § 6050Z

Last updated Apr 5, 2026|Official source

Summary

Insurance companies that sell certified long-term care policies must file a report by February 1 after the year ends. The report must show the company’s name and tax ID, say the coverage is certified long-term care insurance, give the policy owner’s name, identify the person covered and their relationship to the owner, show the premiums paid for the year, and include any other information the Treasury Secretary asks for. The company must also give each covered person a written statement with the company’s contact name, address, and phone number and the total premiums and charges paid for that person that year. If a policy covers more than one person, the report and statement must show only the share of the premium for the person named. If someone asks for the statement before year end, the company must send it and also send a copy to the Treasury Secretary at that time.

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