26 USC 6050Z - Reports relating to long-term care premium statements

U.S Code last checked for updates: Nov 23, 2024

§ 6050Z.

Reports relating to long-term care premium statements

(a)

Requirement of reporting

Any issuer of certified long-term care insurance (as defined in section 401(a)(39)(C)) who provides a long-term care premium statement with respect to any purchaser pursuant to section 401(a)(39)(E) for a calendar year, shall make a return not later than February 1 of the succeeding calendar year, according to forms or regulations prescribed by the Secretary, setting forth with respect to each such purchaser—

(1)

the name and taxpayer identification number of such issuer,

(2)

a statement that the coverage is certified long-term care insurance as defined in section 401(a)(39)(C),

(3)

the name of the owner of such coverage,

(4)

identification of the individual covered and such individual’s relationship to the owner,

(5)

the premiums paid for the coverage for the calendar year, and

(6)

such other information as the Secretary may require.

(b)

Statement to be furnished to persons with respect to whom information is required

Every person required to make a return under subsection (a) shall furnish to each individual whose name is required to be set forth in such return a written statement showing—

(1)

the name, address, and phone number of the information contact of the issuer of the contract or coverage, and

(2)

the aggregate amount of premiums and charges paid under the contract or coverage covering the insured individual during the calendar year.

The written statement required under the preceding sentence shall be furnished to the individual or individuals on or before January 31 of the year following the calendar year for which the return required under subsection (a) was required to be made.

(c)

Contracts or coverage covering more than one insured

(d)

Statement to be furnished on request

(Added Pub. L. 117–328, div. T, title III, § 334(d)(1), Dec. 29, 2022, 136 Stat. 5371.)

cite as: 26 USC 6050Z