Title 26 — Internal Revenue CodeRelease 119-73
§843 Annual Accounting Period
Title 26 › Subtitle Subtitle A— Income Taxes › Chapter 1— NORMAL TAXES AND SURTAXES › Subchapter L— Insurance Companies › Part III— PROVISIONS OF GENERAL APPLICATION › § 843
Summary
Insurance companies must use the calendar year as their tax year. The one exception: an insurance company that files a consolidated return with a parent company may use the parent's tax year, even if it is not a calendar year.
Full Legal Text
Title 26, §843
Internal Revenue Code — Source: USLM XML via OLRC
For purposes of this subtitle, the annual accounting period for each insurance company subject to a tax imposed by this subchapter shall be the calendar year. Under regulations prescribed by the Secretary, an insurance company which joins in the filing of a consolidated return (or is required to so file) may adopt the taxable year of the common parent corporation even though such year is not a calendar year.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1976—Pub. L. 94–455 inserted provision permitting an insurance company which joins in the filing of a consolidated return to adopt the taxable year of the common parent corporation even though such year is not a calendar year.
Statutory Notes and Related Subsidiaries
Effective Date
of 1976 AmendmentAmendment by Pub. L. 94–455 applicable to taxable years beginning after Dec. 31, 1980, see section 1507(c)(1) of Pub. L. 94–455, set out as a note under section 1504 of this title.
Effective Date
Section applicable only to taxable years beginning after Dec. 31, 1954, see
Effective Date
of 1956 Amendment note set out under section 316 of this title.
Reference
Citations & Metadata
Citation
26 U.S.C. § 843
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73