Reporting of Payments by Acquirer in a Reportable Policy Sale

Information Reporting for Certain Life Insurance Contract Transactions

⚠️ Notice: This information collection may be referencing outdated material. More recent filings for OMB 1545-2281 can be found here:

Documents and Forms

Document Name Document Type
Form 1099-LS Reporting of Payments by Acquirer in a Reportable Policy Sale Form
Instr for Form 1099-LS.pdf Instruction
Instr for Form 1099-SB.pdf Instruction
1099-LS Reportable Life Insurance Sale Form 1099-LS.pdf Form
1099-SB Seller's Investment in Life Insurance Contract Form 1099-SB.pdf Form
Notice 2018-41.pdf Notice 2018-41 IC Document

Information Collection (IC) Details

IC Title:	Reporting of Payments by Acquirer in a Reportable Policy Sale	Agency IC Tracking Number:

Is this a Common Form? No		IC Status: New

Obligation to Respond: Mandatory

CFR Citation: 26 CFR 6050Y-x (To search for a specific CFR, visit the Code of Federal Regulations.)

Information Collection Instruments:

Document Type	Form No.	Form Name	Instrument File	Available Electronically?	Can Be Submitted Electronically?	Electronic Capability
Form	1099-LS	Reportable Life Insurance Sale	Form 1099-LS.pdf	Yes	Yes	Fillable Fileable
Instruction			Instr for Form 1099-LS.pdf	Yes	No	Printable Only
Form	1099-SB	Seller's Investment in Life Insurance Contract	Form 1099-SB.pdf	Yes	Yes	Fillable Fileable
Instruction			Instr for Form 1099-SB.pdf	Yes	No	Printable Only

Line of Business: General Government

Subfunction: Taxation Management

Privacy Act System of Records
Title: IRS 24.046-Customer Account Data Engine Business Master File	FR Citation: 80 FR 54063

Number of Respondents: 6,000	Number of Respondents for Small Entity: 0

Affected Public: Private Sector	Private Sector: Businesses or other for-profits

Percentage of Respondents Reporting Electronically: 0 %

	Approved	Program Change Due to New Statute
Annual Number of Responses for this IC	6,000	6,000
Annual IC Time Burden (Hours)	720	720
Annual IC Cost Burden (Dollars)	0	0

Documents for IC

Title	Document	Date Uploaded
Notice 2018-41	Notice 2018-41.pdf	11/13/2018

Blank fields in records indicate information that was not collected or not collected electronically prior to July 2006.