News & Analysis as of

Internal Revenue Code (IRC) Reporting Requirements Captive Insurance Company

Womble Bond Dickinson

Micro-Captive Reportable Transaction Deadline Effectively Extended

Womble Bond Dickinson on

On Friday, April 11, 2025, the Internal Revenue Service issued Notice 2025-24 (the “Notice”), which waives applicable penalties under the Internal Revenue Code to participants in, and material advisors to, reportable...more

Womble Bond Dickinson

Micro-captive Insurance Reportable Transactions and the Reporting Requirements

Womble Bond Dickinson on

Certain micro-captive transactions are back to being reportable. On January 14, 2025, the Treasury Department and the Internal Revenue Service (“IRS”) published final regulations (the “Regulations”) that named some...more

Faegre Drinker Biddle & Reath LLP

Supreme Court Considers IRS’s Micro-Captive Reporting Requirements

On December 1, 2020, the United States Supreme Court heard oral arguments in CIC Servs. LLC v. Internal Revenue Service, a case challenging the Internal Revenue Service’s (IRS) reporting requirements around certain...more

Carlton Fields

IRS Treats Captives With Section 831(B) Elections As “Transactions Of Interest”

Carlton Fields on

On the heels of Congress’ amendments last year to Section 831(b) of the Internal Revenue Code to curb perceived abusive use of so-called “micro” captive insurance companies, the IRS recently issued Notice 2016-66 officially...more

Troutman Pepper Locke

Captive Insurance Arrangements Taking Advantage of Section 831(b) Election May Be Required to Report to the IRS

Troutman Pepper Locke on

The Internal Revenue Service on November 1, 2016 issued Notice 2016-66 (the Notice) requiring information reporting with respect to certain insurance or reinsurance transactions (often referred to as micro-captive...more

Proskauer Rose LLP

Wealth Management Update - September 2015

Proskauer Rose LLP on

September Interest Rates for GRATs, Sales to Defective Grantor Trusts, Intra-Family Loans and Split Interest Charitable Trusts - The September § 7520 rate for use with estate planning techniques such as CRTs, CLTs,...more

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