IRS Form 1120-L 2018 U.S. Life Insurance Company Income Tax Return

IRS Form 1120-L or the "U.s. Life Insurance Company Income Tax Return" is a form issued by the U.S. Department of the Treasury - Internal Revenue Service.

Download a PDF version of the latest IRS Form 1120-L down below or find it on the U.S. Department of the Treasury - Internal Revenue Service Forms website.

Step-by-step Form 1120-L instructions can be downloaded by clicking this link.

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1120-L
U.S. Life Insurance Company Income Tax Return
OMB No. 1545-0123
Form
2018
For calendar year 2018 or tax year beginning
, 2018, ending
, 20
Department of the Treasury
Internal Revenue Service
Go to www.irs.gov/Form1120L for instructions and the latest information.
Name
B Employer identification number
A
Check if:
1
Consolidated return
Please
(attach Form 851) .
Number, street, and room or suite no. If a P.O. box, see instructions.
C Date incorporated
print
2
Life-nonlife consoli-
or
dated return .
.
type
D Check applicable box if an election
City or town, state or province, country, and ZIP or foreign postal code
3
Schedule M-3
has been made under section(s):
(Form 1120-L)
attached .
.
.
E
(1)
(2)
(3)
(4)
Check if:
Final return
Name change
Address change
Amended return
953(c)(3)(C)
953(d)
1
Gross premiums, etc., less return premiums, etc. Enter balance .
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1
2
Net decrease, if any, in reserves (Schedule F, line 12) .
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2
3
3
Decrease in reserves under section 807(f)
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4
Investment income (Schedule B, line 6) (see instructions) .
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4
5
Net capital gain (Schedule D (Form 1120), line 18) .
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5
6
6
Income from a special loss discount account (attach Form 8816) .
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7
Other income (attach statement)
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7
Life insurance company gross income. Add lines 1 through 7 .
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8
8
9
9
Death benefits, etc. .
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10
Net increase, if any, in reserves (Schedule F, line 12)
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10
11
Increase in reserves under section 807(f) .
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11
12
Deductible policyholder dividends under section 808
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12
13
13
Assumption by another person of liabilities under insurance, etc., contracts
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14
Dividends reimbursable by taxpayer
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14
15a
Interest
b Less tax-exempt interest expense
c Bal
15c
16
16
Deductible policy acquisition expenses (Schedule G, line 20) .
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17
Reserved for future use .
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17
18
Other deductions (see instructions) (attach statement) .
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18
19
19
Add lines 9 through 18 .
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20
Subtotal. Subtract line 19 from line 8 .
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20
21a
Dividends-received and other special deductions (Schedule A, line 22) .
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21a
Plus: b. Net operating loss deduction (see instructions) (attach statement) .
21b
21c
22
22
Gain or (loss) from operations. Subtract line 21c from line 20 .
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23
Life insurance company taxable income (LICTI). Enter line 22 here
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23
Phased inclusion of balance of policyholders surplus account (see instructions) .
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24
24
25
Taxable income. Add lines 23 and 24 (see instructions)
25
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26
Total tax. (Schedule K, line 10)
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26
27
2018 Net 965 tax liability paid from Form 965-B, Part II, column (k), line 2
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27
28a
28a
2017 overpayment credited to 2018
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b
Prior year(s) special estimated tax payments to be applied
28b
c
2018 estimated tax payments
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28c
28d (
) 28e
d
Less 2018 refund applied for on Form 4466 .
f
Tax deposited with Form 7004 .
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28f
g
Credits:
28g
(1) Form 2439
(2) Form 4136
h
U.S. income tax paid or withheld at source (attach Form 1042-S) .
.
.
.
28h
i
28i
2018 Net 965 tax liability from Form 965-B, Part I, column (d), line 2 .
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j
Refundable credit from Form 8827, line 8c
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28j
28k
29
Estimated tax penalty. Check if Form 2220 is attached .
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29
30
Amount owed. If line 28k is smaller than the total of lines 26, 27, and 29, enter amount owed
30
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31
Overpayment. If line 28k is larger than the total of lines 26, 27, and 29, enter amount overpaid .
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31
32
Enter amount from line 31: Credited to 2019 estimated tax
Refunded
32
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
Sign
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
Here
with the preparer shown below?.
Yes
No
See Instructions.
Signature of officer
Date
Title
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
1120-L
For Paperwork Reduction Act Notice, see separate instructions.
Form
(2018)
Cat. No. 11480E
1120-L
U.S. Life Insurance Company Income Tax Return
OMB No. 1545-0123
Form
2018
For calendar year 2018 or tax year beginning
, 2018, ending
, 20
Department of the Treasury
Internal Revenue Service
Go to www.irs.gov/Form1120L for instructions and the latest information.
Name
B Employer identification number
A
Check if:
1
Consolidated return
Please
(attach Form 851) .
Number, street, and room or suite no. If a P.O. box, see instructions.
C Date incorporated
print
2
Life-nonlife consoli-
or
dated return .
.
type
D Check applicable box if an election
City or town, state or province, country, and ZIP or foreign postal code
3
Schedule M-3
has been made under section(s):
(Form 1120-L)
attached .
.
.
E
(1)
(2)
(3)
(4)
Check if:
Final return
Name change
Address change
Amended return
953(c)(3)(C)
953(d)
1
Gross premiums, etc., less return premiums, etc. Enter balance .
.
.
.
.
.
.
.
.
.
.
.
.
1
2
Net decrease, if any, in reserves (Schedule F, line 12) .
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
2
3
3
Decrease in reserves under section 807(f)
.
.
.
.
.
.
.
.
.
.
.
.
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4
Investment income (Schedule B, line 6) (see instructions) .
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4
5
Net capital gain (Schedule D (Form 1120), line 18) .
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5
6
6
Income from a special loss discount account (attach Form 8816) .
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7
Other income (attach statement)
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7
Life insurance company gross income. Add lines 1 through 7 .
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.
8
8
9
9
Death benefits, etc. .
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10
Net increase, if any, in reserves (Schedule F, line 12)
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.
10
11
Increase in reserves under section 807(f) .
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.
11
12
Deductible policyholder dividends under section 808
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12
13
13
Assumption by another person of liabilities under insurance, etc., contracts
.
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.
.
.
.
.
.
.
14
Dividends reimbursable by taxpayer
.
.
.
.
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.
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.
.
.
.
.
.
.
14
15a
Interest
b Less tax-exempt interest expense
c Bal
15c
16
16
Deductible policy acquisition expenses (Schedule G, line 20) .
.
.
.
.
.
.
.
.
.
.
.
.
.
17
Reserved for future use .
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17
18
Other deductions (see instructions) (attach statement) .
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18
19
19
Add lines 9 through 18 .
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20
Subtotal. Subtract line 19 from line 8 .
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20
21a
Dividends-received and other special deductions (Schedule A, line 22) .
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21a
Plus: b. Net operating loss deduction (see instructions) (attach statement) .
21b
21c
22
22
Gain or (loss) from operations. Subtract line 21c from line 20 .
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.
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23
Life insurance company taxable income (LICTI). Enter line 22 here
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.
23
Phased inclusion of balance of policyholders surplus account (see instructions) .
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24
24
25
Taxable income. Add lines 23 and 24 (see instructions)
25
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26
Total tax. (Schedule K, line 10)
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.
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.
.
.
.
.
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.
.
26
27
2018 Net 965 tax liability paid from Form 965-B, Part II, column (k), line 2
.
.
.
.
.
.
.
.
.
.
27
28a
28a
2017 overpayment credited to 2018
.
.
.
b
Prior year(s) special estimated tax payments to be applied
28b
c
2018 estimated tax payments
.
.
.
.
.
28c
28d (
) 28e
d
Less 2018 refund applied for on Form 4466 .
f
Tax deposited with Form 7004 .
.
.
.
.
.
.
.
.
.
.
.
.
.
28f
g
Credits:
28g
(1) Form 2439
(2) Form 4136
h
U.S. income tax paid or withheld at source (attach Form 1042-S) .
.
.
.
28h
i
28i
2018 Net 965 tax liability from Form 965-B, Part I, column (d), line 2 .
.
.
j
Refundable credit from Form 8827, line 8c
.
.
.
.
.
.
.
.
.
.
28j
28k
29
Estimated tax penalty. Check if Form 2220 is attached .
.
.
.
.
.
.
.
.
.
.
.
.
.
29
30
Amount owed. If line 28k is smaller than the total of lines 26, 27, and 29, enter amount owed
30
.
.
.
.
31
Overpayment. If line 28k is larger than the total of lines 26, 27, and 29, enter amount overpaid .
.
.
.
31
32
Enter amount from line 31: Credited to 2019 estimated tax
Refunded
32
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
Sign
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
May the IRS discuss this return
Here
with the preparer shown below?.
Yes
No
See Instructions.
Signature of officer
Date
Title
Print/Type preparer’s name
Preparer’s signature
Date
PTIN
Paid
Check
if
self-employed
Preparer
Firm’s name
Firm’s EIN
Use Only
Firm’s address
Phone no.
1120-L
For Paperwork Reduction Act Notice, see separate instructions.
Form
(2018)
Cat. No. 11480E
2
Form 1120-L (2018)
Page
Schedule A
Dividends, Inclusions, Dividends-Received Deduction, and Other Special Deductions (see instructions)
Dividends subject to proration
(a) Dividends and
(c) Deductions
(b) %
inclusions
((a) times (b))
1
Dividends from less-than-20%-owned domestic corporations
(other than debt-financed stock).
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1
2
Dividends from 20%-or-more-owned domestic corporations
(other than debt-financed stock)
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2
3
Dividends on certain debt-financed stock of domestic and foreign
3
corporations
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4
Dividends on certain preferred stock of less-than-20%-owned
public utilities .
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4
5
Dividends on certain preferred stock of 20%-or-more-owned
5
public utilities .
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6
Dividends from less-than-20%-owned foreign corporations and
certain foreign sales corporations (FSCs) .
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6
7
Dividends from 20%-or-more-owned foreign corporations and
certain FSCs
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7
8
8
Dividends from wholly-owned foreign subsidiaries and certain FSCs .
9
9
Dividends from certain affiliated companies
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10
Gross dividends-received deduction. Add lines 1 through 9
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10
11
Company share percentage .
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11
12
Prorated amount. Line 10 times line 11
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12
Dividends not subject to proration
13
Affiliated company dividends
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13
14
Foreign-source portion of dividends received from a specified
10%-owned foreign corporation (excluding hybrid dividends) (see
instructions)
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14
15
Dividends from foreign corporations not included on line 3, 6, 7, 8,
15
or 14 (including hybrid dividends)
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16
Section 965(a) inclusion .
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16
17 a
Subpart F inclusions derived from the sale by a controlled foreign
corporation (CFC) of the stock of a lower-tier foreign corporation
17a
treated as a dividend (attach Form(s) 5471) (see instructions) .
.
b
Subpart F inclusions derived from hybrid dividends of tiered
corporations (attach Form(s) 5471) (see instructions)
.
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.
17b
c
Other inclusions from CFCs under subpart F not included on line
16, 17a, 17b, or 18 (attach Form(s) 5471) (see instructions) .
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17c
18
Global intangible low-taxed income (GILTI) (attach Form(s) 5471
18
and 8992) .
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19
Other corporate dividends
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19
Total dividends and inclusions. Add lines 1 through 19, column
20
20
(a). Enter here and on Schedule B, line 2 .
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21
Section 250 deduction (attach Form 8993)
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21
22
Total deductions. Add lines 12, 13, 14, 16, 17a, and 21, column
(c). Enter here and on page 1, line 21a .
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22
Schedule B
Investment Income (see instructions)
1
Interest (excluding tax-exempt interest)
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1
2
Total dividends and inclusions (Schedule A, line 20, column (a))
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2
3
3
Rents
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4
Royalties
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4
5
Leases, terminations, etc.
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5
6
6
Investment income. Add lines 1 through 5. Enter here and on page 1, line 4 .
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.
1120-L
Form
(2018)
3
Form 1120-L (2018)
Page
Schedule F
Increase (Decrease) in Reserves (section 807) (see instructions)
(a) Beginning of tax year
(b) End of tax year
1
Life insurance reserves
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1
2
Unearned premiums and unpaid losses
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2
3
3
Supplementary contracts
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4
Dividend accumulations and other amounts .
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4
5
Advance premiums
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5
6
6
Special contingency reserves
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7
Add lines 1 through 6 .
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7
Increase (decrease) in reserves under section 807. Subtract line 7, column (a), from line 7, column (b) .
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8
8
9
Tax-exempt interest and the increase in policy cash value of section 264(f) policies as
9
defined in section 805(a)(4)(F) .
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10
Policyholders’ share percentage .
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10
11
Policyholders’ share of tax-exempt interest and the increase in policy cash value of section 264(f) policies as
11
defined in section 805(a)(4)(F). Multiply line 9 by line 10 .
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12
Net increase (decrease) in reserves. Subtract line 11 from line 8. If an increase, enter here and on page 1,
line 10. If a decrease, enter here and on page 1, line 2 .
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12
Schedule G
Policy Acquisition Expenses (section 848) (see instructions)
(a) Annuity
(b) Group life
(c) Other
insurance
1
Gross premiums and other consideration .
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1
2
Return premiums and premiums and other consideration incurred for
reinsurance
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2
3
Net premiums. Subtract line 2 from line 1
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3
4
4
Net premium percentage
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5
Multiply line 3 by line 4
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5
6
Combine line 5, columns (a), (b), and (c), and enter here. If zero or less, enter -0- on lines 7 and 8
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6
(
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7
7
Unused balance of negative capitalization amount from prior years
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8
Combine lines 6 and 7. If zero or less, enter -0- .
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8
9
General deductions (attach statement) .
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9
10
10
Enter the lesser of line 8 or line 9
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11
11
Deductible general deductions. Subtract line 10 from line 9. Enter here and include on page 1, line 18 .
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12
If the amount on line 6 is negative, enter it as a positive amount. If the amount on line 6 is positive, enter -0- .
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12
13
Unamortized specified policy acquisition expenses from prior years .
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13
14
14
Deductible negative capitalization amount. Enter the lesser of line 12 or line 13 .
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15 a
Tentative 60-month specified policy acquisition expenses. Enter amount from line 10, but not
more than $5 million .
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15a
b
15b
Limitation .
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16
Phase-out amount. Subtract line 15b from line 10. If zero or less, enter -0- .
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16
17 a
Current year 60-month specified policy acquisition expenses. Subtract line 16 from line 15a. If
17a
zero or less, enter -0- .
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b
Enter 10% of line 17a
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17b
18 a
Current year 180-month specified policy acquisition expenses. Subtract line 17a from
line 10 .
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18a
b
18b
Enter 3.34% of line 18a .
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19
Enter the applicable amount of amortization from specified policy acquisition expenses capitalized in prior years
and deductible this year. Attach statement
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19
20
Deductible policy acquisition expenses. Add lines 14, 17b, 18b, and 19. Enter here and on page 1, line 16 .
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20
1120-L
Form
(2018)
4
Form 1120-L (2018)
Page
Schedule K
Tax Computation (see instructions)
1
Check if the corporation is a member of a controlled group (attach Schedule O (Form 1120)) .
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2
Income tax .
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2
3
Base erosion minimum tax (attach Form 8991)
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3
4
4
Add lines 2 and 3 .
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5 a
Foreign tax credit (attach Form 1118) .
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5a
b
Credit from Form 8834 (attach Form 8834)
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5b
c
5c
General business credit (attach Form 3800)
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d
Credit for prior year minimum tax (attach Form 8827)
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5d
e
Bond credits from Form 8912
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5e
6
Total credits. Add lines 5a through 5e
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6
7
7
Subtract line 6 from line 4
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8
Foreign corporations—tax on income not effectively connected with U.S. business
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8
9
Other taxes. Check if from:
Form 4255
Form 8611
Other (attach statement)
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9
10
Total tax. Add lines 7 through 9. Enter here and on page 1, line 26 .
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10
Schedule L
Part I—Total Assets (see instructions)
(a) Beginning of tax year
(b) End of tax year
1
1
Real property .
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2
Stocks .
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2
3
Proportionate share of partnership and trust assets .
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3
4
Other assets (attach statement) .
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4
5
Total assets. Add lines 1 through 4
5
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Part II—Total Assets and Total Insurance Liabilities (section 842(b)(2)(B)(i)) (see instructions)
Note: The information provided in Part II should conform with the “Assets” and “Liabilities, Surplus, and Other Funds” sections of
the NAIC Annual Statement.
(a) Beginning of tax year
(b) End of tax year
1
1
Subtotals for assets .
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2
Total assets
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2
3
Reserve for life policies and contracts .
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3
4
4
Reserve for accident and health policies .
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5
5
Liability for deposit-type contracts .
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6
Life policy and contract claims .
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6
7
Accident and health policy and contract claims .
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7
8
8
Policyholder’s dividend and coupon accumulations .
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9
Premiums and annuity considerations received in advance less discount
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9
10
Surrender values on canceled policies
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10
11
11
Part of other amounts payable on reinsurance assumed
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12
Part of aggregate write-ins for liabilities. (Only include items or amounts includible in
“total insurance liabilities on U.S. business” as defined in section 842(b)(2)(B)(i))
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12
13
13
Separate accounts statement
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14
Total insurance liabilities. Add lines 3 through 13 .
14
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1120-L
Form
(2018)
5
Form 1120-L (2018)
Page
Schedule M
Other Information (see instructions)
1
Yes
No
Yes
No
Check accounting method:
8 c
The corporation may have to file Form 5472,
a
Accrual
b
Other (specify)
Information Return of a 25% Foreign-Owned U.S.
2
Check if the corporation is a:
Corporation or a Foreign Corporation Engaged in a
a
Legal reserve company—if checked
U.S. Trade or Business. Enter number of Forms 5472
Kind of company:
attached.
(1)
Stock
(2)
Mutual
Principal business:
9
Does the corporation discount any of the loss
(1)
Life Insurance
reserves shown on its annual statement? .
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(2)
Health and accident insurance
b
Fraternal or assessment association
10a
Enter the total unpaid losses shown on the
c
Burial or other insurance company
corporation’s annual statement:
(1) For the current year:
$
3
Enter the percentage that the total of the
$
(2) For the previous year:
corporation’s life insurance reserves (section
Enter the total unpaid loss adjustment expenses
b
816(b)) plus unearned premiums and unpaid losses
shown on the corporation’s annual statement:
(whether or not ascertained) on noncancelable life,
$
(1) For the current year:
health, or accident policies not included in
(2) For the previous year:
$
life insurance reserves bears to the corporation’s
total reserves (section 816(c))
%.
Enter the available net operating loss carryover from prior
11
Attach a statement showing the computation.
tax years. (Do not reduce it by any deduction on page 1,
line 21b.)
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$
4
Does the corporation have any variable annuity
12a
Enter the corporation’s state of domicile.
contracts outstanding?
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5
At the end of the tax year, did the corporation own,
b
Was the annual statement used to prepare the tax
directly or indirectly, 50% or more of the voting
return filed with the state of domicile? .
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stock of a domestic corporation? (For rules of
If “No,” complete c below.
attribution, see section 267(c).) .
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If “Yes,” attach a statement showing (a) name and
c
Enter the state where the annual statement used to
employer identification number (EIN), (b) percentage
prepare the tax return was filed.
owned, and (c) taxable income or (loss) before NOL
and special deductions of such corporation for the
13
Is the corporation required to file Schedule UTP
tax year ending with or within your tax year.
(Form 1120), Uncertain Tax Position Statement? See
instructions.
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6
Is the corporation a subsidiary in an affiliated group
or a parent-subsidiary controlled group? .
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If “Yes,” complete and attach Schedule UTP.
If “Yes,” enter name and EIN of the parent
14
Does the corporation have gross receipts of at least
corporation.
$500 million in any of the 3 preceding tax years? (See
section 59A(e)(2) and (3).)
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.
If “Yes,” complete and attach Form 8991.
7
At the end of the tax year, did any individual,
15
During the tax year, did the corporation pay or accrue
partnership, corporation, estate, or trust own,
any interest or royalty for which the deduction is not
directly or indirectly, 50% or more of the
allowed under section 267A? See instructions
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corporation’s voting stock? (For rules of attribution,
see section 267(c).)
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If “Yes,” enter the total amount of the disallowed
$
If “Yes,” complete a and b below.
deductions.
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16
Did the corporation have an election under section
a
Attach a statement showing name and identifying
163(j) for any real property trade or business or any
number. (Do not include any information already
farming business in effect during the tax year? See
entered in line 6 above.)
instructions.
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Enter percentage owned.
b
17
Is the corporation required to file Form 8990,
Limitation on Business Interest Expense IRC 163(j), to
8
At any time during the year, did one foreign person
calculate the amount of deductible business interest?
own, directly or indirectly, at least 25% of (a)
See instructions. .
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the total voting power of all classes of stock of
the corporation entitled to vote, or (b) the total value
of all classes of stock of the corporation? .
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If “Yes,” enter:
a Percentage owned and
b Owner’s country.
1120-L
Form
(2018)

Download IRS Form 1120-L 2018 U.S. Life Insurance Company Income Tax Return

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