Comments requested on Form 1099-LS, Reportable Life Insurance Sale, and Form 1099-SB, Seller’s Investment in Life Insurance Contract, information reporting requirements for life insurance companies. Form 1099-LS is used by the acquirer of any interest in a life insurance contract in a reportable policy sale to report the acquisition. Form 1099-SB is used by the issuer of a life insurance contract to report the seller’s investment in the contract and surrender amount with respect to an interest in a life insurance contract transferred in a “reportable policy sale” or transferred to a foreign person. Comments are due on ...
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