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Prior Guidance On Split-Dollar Life Arrangements Now Obsolete, IRS Says.

SEP. 11, 2003

Rev. Rul. 2003-105; 2003-2 C.B. 696

DATED SEP. 11, 2003
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference
    For the full text of T.D. 9092, see Doc 2003-20325 (101 original

    pages).

    Part I

    Section 61. -- Gross Income

    26 CFR 1.61-22: Taxation of split-dollar life insurance arrangements.

    (Also: §§ 83; 301; 316; 2503; 2511; 2512; 7805; 7872; 1.83-3;

    1.83-6; 1.301-1; 1.316-1; 25.2503-1; 25.2511-1; 25.2512-6; 301.7805-

    1; 1.7872-15.)
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Insurance
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2003-20326 (2 original pages)
  • Tax Analysts Electronic Citation
    2003 TNT 177-6
Citations: Rev. Rul. 2003-105; 2003-2 C.B. 696

Rev. Rul. 2003-105

[1] Treasury Decision 9092 provides comprehensive final regulations (under §§ 1.61-22, 1.83-3(e), 1.83-6(a)(5), 1.301-1(q), and 1.7872-15 of the Income Tax Regulations) regarding the federal income, gift, and employment taxation of split-dollar life insurance arrangements (as defined in § 1.61-22(b)(1) or (2)). These regulations apply to any split-dollar life insurance arrangement that is entered into after September 17, 2003 and to any split-dollar life insurance arrangement entered into on or before September 17, 2003 that is materially modified after September 17, 2003. See § 1.61-22(j).

[2] The revenue rulings listed below are obsolete to the extent described below.

 

Rev. Rul. 79-50, 1979-1 C.B. 139

Rev. Rul. 78-420, 1978-2 C.B. 67

Rev. Rul. 66-110, 1966-1 C.B. 12 (except as provided in Section III, Paragraph 3 of Notice 2002-8, 2002-1 C.B. 398, and Notice 2002-59, 2002-36 I.R.B. 481)

Rev. Rul. 64-328, 1964-2 C.B. 11.

 

[3] In the case of any split-dollar life insurance arrangement entered into on or before September 17, 2003, taxpayers may continue to rely on these revenue rulings to the extent described in Notice 2002-8, but only if the arrangement is not materially modified after September 17, 2003.

DRAFTING INFORMATION

[4] The principal author of this revenue ruling is Elizabeth K. Kaye of the Office of Associate Chief Counsel (Income Tax and Accounting). For further information regarding this revenue ruling, contact Elizabeth K. Kaye on (202) 622-4920 (not a toll-free call).

DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Cross-Reference
    For the full text of T.D. 9092, see Doc 2003-20325 (101 original

    pages).

    Part I

    Section 61. -- Gross Income

    26 CFR 1.61-22: Taxation of split-dollar life insurance arrangements.

    (Also: §§ 83; 301; 316; 2503; 2511; 2512; 7805; 7872; 1.83-3;

    1.83-6; 1.301-1; 1.316-1; 25.2503-1; 25.2511-1; 25.2512-6; 301.7805-

    1; 1.7872-15.)
  • Code Sections
  • Subject Area/Tax Topics
  • Industry Groups
    Insurance
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2003-20326 (2 original pages)
  • Tax Analysts Electronic Citation
    2003 TNT 177-6
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