---
kind: "section"
citation: "26 U.S.C. § 6050V"
title: "26"
title_heading: "Internal Revenue Code"
number: "6050V"
heading: "Returns relating to applicable insurance contracts in which certain exempt organizations hold interests"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/26/6050V"
units:
  - "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"
---

# §6050V. Returns relating to applicable insurance contracts in which certain exempt organizations hold interests

- (a) **In general—** Each applicable exempt organization which makes a reportable acquisition shall make the return described in [subsection (c)](#c).
- (b) **Time for making return—** Any applicable exempt organization required to make a return under [subsection (a)](#a) shall file such return at such time as may be established by the [Secretary](/usc/26/7701.md?p=a-11-B).
- (c) **Form and manner of returns—** A return is described in this subsection if such return—
  - (1) is in such form as the [Secretary](/usc/26/7701.md?p=a-11-B) prescribes,
  - (2) contains the name, address, and [taxpayer](/usc/26/7701.md?p=a-14) identification number of the applicable exempt organization and the issuer of the applicable insurance [contract](/usc/26/101.md?p=f-3-A), and
  - (3) contains such other information as the [Secretary](/usc/26/7701.md?p=a-11-B) may prescribe.
- (d) **Definitions—** For purposes of this section—
  - (1) **Reportable acquisition—** The term “reportable acquisition” means the acquisition by an applicable exempt organization of a direct or indirect interest in any applicable insurance [contract](/usc/26/101.md?p=f-3-A) in any case in which such acquisition is a part of a structured [transaction](/usc/26/7701.md?p=o-5-D) involving a pool of such [contracts](/usc/26/101.md?p=f-3-A).
  - (2) **Applicable insurance contract—**
    - (A) **In general—** The term “applicable insurance [contract](/usc/26/101.md?p=f-3-A)” means any life insurance, annuity, or [endowment contract](/usc/26/7702.md?p=h-2) with respect to which both an applicable exempt organization and a [person](/usc/26/7701.md?p=a-1) other than an applicable exempt organization have directly or [indirectly](/usc/26/101.md?p=a-3-B) held an interest in the [contract](/usc/26/101.md?p=f-3-A) (whether or not at the same time).
    - (B) **Exceptions—** Such term shall not include a life insurance, annuity, or [endowment contract](/usc/26/7702.md?p=h-2) if—
      - (i) all [persons](/usc/26/7701.md?p=a-1) directly or [indirectly](/usc/26/101.md?p=a-3-B) holding any interest in the [contract](/usc/26/101.md?p=f-3-A) (other than applicable exempt organizations) have an insurable interest in the [insured](/usc/26/101.md?p=j-5-B) under the [contract](/usc/26/101.md?p=f-3-A) independent of any interest of an applicable exempt organization in the [contract](/usc/26/101.md?p=f-3-A),
      - (ii) the sole interest in the [contract](/usc/26/101.md?p=f-3-A) of an applicable exempt organization or each [person](/usc/26/7701.md?p=a-1) other than an applicable exempt organization is as a named beneficiary, or
      - (iii) the sole interest in the [contract](/usc/26/101.md?p=f-3-A) of each [person](/usc/26/7701.md?p=a-1) other than an applicable exempt organization is—
        - (I) as a beneficiary of a trust holding an interest in the [contract](/usc/26/101.md?p=f-3-A), but only if the [person](/usc/26/7701.md?p=a-1)’s designation as such beneficiary was made without consideration and solely on a purely gratuitous basis, or
        - (II) as a trustee who holds an interest in the [contract](/usc/26/101.md?p=f-3-A) in a [fiduciary](/usc/26/7701.md?p=a-6) capacity solely for the benefit of applicable exempt organizations or [persons](/usc/26/7701.md?p=a-1) otherwise described in [subclause (I)](#d-2-B-iii-I) or clause [(i)](#d-2-B-i) or [(ii)](#d-2-B-ii).
  - (3) **Applicable exempt organization—** The term “applicable exempt organization” means—
    - (A) an organization described in [section 170(c)](/usc/26/170.md?p=c),
    - (B) an organization described in [section 168(h)(2)(A)(iv)](/usc/26/168.md?p=h-2-A-iv), or
    - (C) an organization not described in paragraph [(1)](#d-1) or [(2)](#d-2) which is described in [section 2055(a)](/usc/26/2055.md?p=a) or [section 2522(a)](/usc/26/2522.md?p=a).
- (e) **Termination—** This section shall not apply to reportable acquisitions occurring after the date which is 2 years after the date of the enactment of this section.

## Source credit

(Added Pub. L. 109–280, title XII, § 1211(a)(1), Aug. 17, 2006, 120 Stat. 1072.)

## Notes

### Editorial Notes

### References in Text

The date of the enactment of this section, referred to in subsec. (e), is the date of enactment of Pub. L. 109–280, which was approved Aug. 17, 2006.

### Codification

Section 1211(a)(1) of Pub. L. 109–280, which directed the addition of section 6050V at the end of subpart B of part III of subchapter A of chapter 61, without specifying the act to be amended, was executed by adding section 6050V at the end of subpart B of part III of subchapter A of chapter 61 of this title, which consists of the Internal Revenue Code of 1986, to reflect the probable intent of Congress.

### Statutory Notes and Related Subsidiaries

### Effective Date

Pub. L. 109–280, title XII, § 1211(d), Aug. 17, 2006, 120 Stat. 1074, provided that: “The amendments made by this section [enacting this section and amending sections 6721 and 6724 of this title] shall apply to acquisitions of contracts after the date of enactment of this Act [Aug. 17, 2006].”