§817. Treatment of variable contracts — Inbound Citations
26 U.S.C. § 817
Cited by 10 provisions in release 119-102.
Citations to 26 U.S.C. § 817 as a whole
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(II) the portion of the reserve that is separately accounted for under section 817, plus
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(d) For purposes of this section, the term “modified guaranteed contract” means a contract not described in section 817—(1) all or part of the amounts received under which are allocated to an account which, pursuant to State law or regulation, is segregated from the general asset accounts of the company and is valued from time to time with reference to market values,(2) which—(A) provides for the payment of annuities,(B) is a life insurance contract, or(C) is a pension plan contract which is not a life, accident, or health, property, casualty, or liability contract,(3) for which reserves are valued at market for annual statement purposes, and(4) which provides for a net surrender value or a policyholder’s fund (as defined in section 807(e)(1)).If only a portion of a contract is not described in section 817, such portion shall be treated for purposes of this section as a separate contract.
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(f) Except as provided in regulations, with respect to any variable contract (as defined in section 817), there shall be no adjustment in the reserve to the extent of any excess inclusion.
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(9) In the case of any contract which is a variable contract (as defined in section 817), the determination of whether such contract meets the requirements of subsection (a) shall be made whenever the death benefits under such contract change but not less frequently than once during each 12-month period.
Citations to §817(d)
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(2) a segregated asset account of a life insurance company held in connection with variable contracts (as defined in section 817(d)),
Citations to §817(h)
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(A) For purposes of this subsection, the term “employer-owned life insurance contract” means a life insurance contract which—(i) is owned by a person engaged in a trade or business and under which such person (or a related person described in subparagraph (B)(ii)) is directly or indirectly a beneficiary under the contract, and(ii) covers the life of an insured who is an employee with respect to the trade or business of the applicable policyholder on the date the contract is issued.
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(E) If coverage for each insured under a master contract is treated as a separate contract for purposes of sections 817(h), 7702, and 7702A, coverage for each such insured shall be treated as a separate contract for purposes of subparagraph (A). For purposes of the preceding sentence, the term “master contract” shall not include any group life insurance contract (as defined in section 848(e)(2)).
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(5) For purposes of this section and section 954, the determination of whether a contract issued by a controlled foreign corporation or a qualified business unit (within the meaning of section 989(a)) is a life insurance contract or an annuity contract shall be made without regard to sections 72(s), 101(f), 817(h), and 7702 if—(A) such contract is regulated as a life insurance or annuity contract by the corporation’s or unit’s home country, and(B) no policyholder, insured, annuitant, or beneficiary with respect to the contract is a United States person.
Citations to §817(h)(4)
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(3) any other tax-exempt entity whose ownership of beneficial interests in the company would not preclude the application of section 817(h)(4), or