ABA requires growth of de minimis exception for reportable policy sales

The American Bankers Association recently provided feedback to the Internal Revenue Service on proposed policies relating to the application of the transfer for important factor to consider guidelines and associated info reporting requirements for reportable policy sales.

While ABA revealed gratitude for the development of a de minimis exception from the meaning of RPS for specific direct acquisitions of interests in life insurance coverage agreements by C corporations, the association kept in mind that this exception ought to be broadened to consist of extra deals.


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