26 U.S.C. § 803

Life insurance gross income

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(a) In generalFor purposes of this part, the term “life insurance gross income” means the sum of the following amounts:(1) Premiums(A) The gross amount of premiums and other consideration on insurance and annuity contracts, less(B) return premiums, and premiums and other consideration arising out of indemnity reinsurance.(2) Decreases in certain reserves

Each net decrease in reserves which is required by section 807(a) to be taken into account under this paragraph.

(3) Other amounts

All amounts not includible under paragraph (1) or (2) which under this subtitle are includible in gross income.

(b) Special rules for premiums(1) Certain items includedFor purposes of subsection (a)(1)(A), the term “gross amount of premiums and other consideration” includes—(A) advance premiums,(B) deposits,(C) fees,(D) assessments,(E) consideration in respect of assuming liabilities under contracts not issued by the taxpayer, and(F) the amount of policyholder dividends reimbursable to the taxpayer by a reinsurer in respect of reinsured policies,on insurance and annuity contracts.(2) Policyholder dividends excluded from return premiumsFor purposes of subsection (a)(1)(B)—(A) In general

Except as provided in subparagraph (B), the term “return premiums” does not include any policyholder dividends.

(B) Exception for indemnity reinsurance

Subparagraph (A) shall not apply to amounts of premiums or other consideration returned to another life insurance company in respect of indemnity reinsurance.

(Added Pub. L. 98–369, div. A, title II, § 211(a), July 18, 1984, 98 Stat. 721.)Editorial NotesPrior Provisions

A prior section 803, acts Aug. 16, 1954, ch. 736, 68A Stat. 256; Mar. 13, 1956, ch. 83, § 2, 70 Stat. 39, related to income and deductions in the case of life insurance companies, prior to the general revision of this part by Pub. L. 86–69, § 2(a), June 25, 1959, 73 Stat. 112.

Statutory Notes and Related SubsidiariesEffective Date

Section applicable to taxable years beginning after Dec. 31, 1983, see section 215 of Pub. L. 98–369, set out as a note under section 801 of this title.

Notes of Decisions

Cited in 6 cases, 1960–2005 · leading case: Massachusetts Mutual Life Insurance v. United States

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Massachusetts Mutual Life Insurance v. United States (2005) uscfc · cites it 4× “§ 801 (b); 11 see also 26 U.S.C. § 803 (a) (defining “life insurance gross income” as the sum of premiums received, certain reserve decreases, and all other amounts “which under this subtitle are includible in gross income.”

George D. Patterson, District Director of Internal Revenue v. J. C. Thomas and Martha Thomas (1961) ca5 “of 1954, 26 U.S.C.A. § 803 . . Treasury Regulations 1.”

Equitable Life Assurance Soc. of US v. United States (1960) cc “of 1954, 26 U.S.C.A. § 803 (a) (2) 2 It is our judgment that the determination of the Commissioner was correct .”

Massachusetts Mutual Life Insurance v. United States (1984) cc “” 26 U.S.C. § 803 (g)(2). The legislative history reveals that “or incurred” was added merely to allow life insurance companies to treat certain items on the accrual basis, rather than on the cash basis of accounting.”

Provident Life & Accident Insurance v. United States (2004) tned “Provident Life reported this amount as an income item under 26 U.S.C. § 803 (a)(2) on its consolidated income tax return for tax year 1984 (StipV 45).”

Idaho Mutual Benefit Ass'n v. United States (1966) idd · cites it 2× “It is agreed that the sole issue to be determined by this court is whether the “benefit fund” of the Idaho Mutual Benefit Association for each of the years 1956, 1957, and 1958 was a “life insurance reserve” within the meaning of the provisions of 26 U.S.C. § 803 (b). During the…”

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