Description: Panelists discuss: [1] the tax implication of NAIC changes to reserving requirements, [2] the new NAIC Valuation of Life Insurance Policies Model Regulation [Reg. XXX], [3] Actuarial Guideline 33 [AG 33], [4] AG 34, and [5] highlights of an actual IRS audit involving these NAIC actuarial guidelines and regulations. From the 1997 Record of Society of Actuaries, Vol. 23, No. 3.

Description: After nearly a decade of work by ACLI and representatives of its member companies, the Society of Actuaries SOA, the American Academy of Actuaries Academy, and the NAIC’s Life and Health Actuarial Task Force LHATF, on Sept. 24, 2008, the NAIC adopted a new actuarial guideline for applying the method of computing statutory reserves for variable annuity contracts AG VACARVM.

Description: Analysis of a private letter ruling addressing a section 807(f) change in basis for computing life insurance reserves.

Description: This article discusses the importance of refining projected tax cash flows when making actuarial projections. It addresses specifically operating loss deductions, net operating loss carrybacks and carryforwards, capital coss carrybacks and carryforwards, cost basis of invested assets, tax DAC, tax complications caused by reinsurance and deferred taxes.

Description: This article briefly summarizes the history of the Passive Foreign Investment Company (PFIC) tax regime. Then it provides a detailed description of the PFIC proposed regulations issued in July of 2019.

Description: Interplay of §807(f) and the stat cap in §807(d) as there continues to be uncertainty as to whether a change to the stat reserve could be subject to §807(f).

Description: This session from the 1995 SOA Boston Meeting reviews recent U.S. regulatory and tax developments, U.S. product taxation issues including corporate-owned life insurance COLI and certificate of deposit CD annuities and a summary of recent Canadian income tax developments. From the Record of the Society of Actuaries, Vol. 21, No. 4b.

Description: This discussion at the SOA 1990 San Francisco Spring Meeting covers alternative minimum tax including deferred acquisition costs, investment planning and new legislative proposals.

Description: A summary and analysis of REG-103163-18, the proposed regulations providing guidance for property-casualty loss reserve discounting (LRD) under IRC Section 846.

Description: This article is a discussion about the life settlement industry and the tax considerations for life insurance bought and sold in the secondary market.