-CITE- 26 USC CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS 01/02/2006 -EXPCITE- TITLE 26 - INTERNAL REVENUE CODE Subtitle D - Miscellaneous Excise Taxes CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS -HEAD- CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS -MISC1- Sec. 4371. Imposition of tax. 4372. Definitions. 4373. Exemptions. 4374. Liability for tax. PRIOR PROVISIONS The provisions of a prior chapter 34, Documentary Stamp Taxes, were set out as: Subchapter A, Issuance of capital stock and certificates of indebtedness by a corporation, comprising sections 4301 to 4305 and 4311 to 4316. Subchapter B, Sale or transfers of capital stock and certificates of indebtedness of a corporation, comprising sections 4321 to 4324, 4331 to 4333, 4341 to 4345, and 4351 to 4354. Subchapter C, Conveyances, comprising sections 4361 to 4363. Subchapter D, Policies issued by foreign insurers, comprising sections 4371 to 4375. Subchapter E, Miscellaneous provisions applicable to documentary stamp taxes, comprising sections 4381 to 4384. Subchapters A and B were repealed by Pub. L. 89-44, title IV, Sec. 401(a), June 21, 1965, 79 Stat. 148. Subchapter C was struck out by Pub. L. 94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812. Subchapter D heading was struck out, sections 4371 to 4373 were reenacted without change, section 4374, "liability for tax", was substituted for section 4374, "payment of tax", and section 4375 was struck out by Pub. L. 94-455, title XIX, Sec. 1904(a)(12). Subchapter E, section 4381 was repealed by Pub. L. 89-44, title IV, Sec. 401(c), June 21, 1965, 79 Stat. 148, and sections 4382 to 4384 were struck out by Pub. L. 94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812. The subject matter of the prior sections was as follows: A prior section 4301, acts Aug. 16, 1954, ch. 736, 68A Stat. 513; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1293; Apr. 8, 1960, Pub. L. 86-416, Sec. 1, 74 Stat. 36, imposed a tax, based upon the actual value of the certificates or shares, upon each original issue of shares or certificates of stock issued by a corporation. A prior section 4302, acts Aug. 16, 1954, ch. 736, 68A Stat. 513; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1293, made provision for a determination of tax in the case of recapitalization. A prior section 4303, acts Aug. 16, 1954, ch. 736, 68A Stat. 514; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1293, granted exemptions for common trust funds, pooled investment funds, and installment purchases of certain shares or certificates, and directed attention to section 4382 for other exemptions. A prior section 4304, acts Aug. 16, 1954, ch. 736, 68A Stat. 514; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, called for the affixing of the stamps representing the tax imposed by section 4301 upon the stock books or corresponding records of the corporation. A prior section 4305, acts Aug. 16, 1954, ch. 736, 68A Stat. 514; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, made cross-references to sections 4381 and 4384 and subtitle F. A prior section 4311, acts Aug. 16, 1954, ch. 736, 68A Stat. 514; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, imposed a tax on all certificates of indebtedness issued by a corporation. A prior section 4312, acts Aug. 16, 1954, ch. 736, 68A Stat. 514, Sec. 4312, formerly Sec. 4313; renumbered Sec. 4312, Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, provided that every renewal of any certificate of indebtedness should be taxed as a new issue. A prior section 4313, acts Aug. 16, 1954, ch. 736, 68A Stat. 514, Sec. 4313, formerly Sec. 4314; renumbered Sec. 4313, Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, provided for the method of determining the rate of taxation in the case of a bond conditioned for the repayment of money and given in a penal sum greater than the debt secured. A prior section 4314, acts Aug. 16, 1954, ch. 736, 68A Stat. 514, Sec. 4314, formerly Sec. 4315; renumbered Sec. 4314, Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, granted an exemption to instruments under the terms of which the obligee was required to make installment payments of not more than 20 percent annually, and made reference to section 4382 for other exemptions. A prior section 4315, acts Aug. 16, 1954, ch. 736, 68A Stat. 514, Sec. 4315, formerly Sec. 4316; renumbered Sec. 4315 and amended Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1294, made cross references to sections 4381 and 4384 and subtitle F. A prior section 4321, acts Aug. 16, 1954, ch. 736, 68A Stat. 515; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1295; Sept. 21, 1959, Pub. L. 86-344, Sec. 5(a), 73 Stat. 619, imposed a tax upon the sale or transfer of shares or certificates of stock or of rights to subscribe to receive such shares or certificates issued by a corporation. A prior section 4322, acts Aug. 16, 1954, ch. 736, 68A Stat. 515; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1295, granted exemptions in the case of sales by brokers or registered nominees and in the case of odd lot sales. A prior section 4323, acts Aug. 16, 1954, ch. 736, 68A Stat. 516; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1296; Sept. 21, 1959, Pub. L. 86-344, Sec. 5(b), 73 Stat. 619, called for the affixing of the stamps representing the tax upon the books of the corporation and the certification of the actual value of the shares transferred, and made reference to section 4352 in the case of transfers shown otherwise than by the books of the corporation. A prior section 4324, acts Aug. 16, 1954, ch. 736, 68A Stat. 516; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1296, made cross references to other sections and subtitles for definitions, penalties, and other general and administrative provisions. A prior section 4331, acts Aug. 16, 1954, ch. 736, 68A Stat. 516; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1296, imposed a tax upon each sale or transfer of any certificate of indebtedness issued by a corporation. A prior section 4332, acts Aug. 16, 1954, ch. 736, 68A Stat. 516; Jan. 28, 1956, ch. 19, 70 Stat. 9; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1296, granted exemptions in the case of transfers and sales by brokers and installment purchases of obligations and made reference to other exemptions listed in other sections. A prior section 4333, acts Aug. 16, 1954, ch. 736, 68A Stat. 516; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1296, made cross references to other sections and subtitles for definitions, penalties, and other general and administrative provisions. A prior section 4341, acts Aug. 16, 1954, ch. 736, 68A Stat. 517; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1297, granted an exemption from the imposition of the tax under sections 4321 and 4331 in the case of transfers as collateral security and as security for performance. A prior section 4342, acts Aug. 16, 1954, ch. 736, 68A Stat. 517; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1297, granted exemptions in the case of delivery or transfer of instruments by a fiduciary to his nominee or between nominees or by a custodian. A prior section 4343, acts Aug. 16, 1954, ch. 736, 68A Stat. 517; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1297, provided that taxes imposed by sections 4321 and 4331 would not apply in specified cases involving decedents, minors, incompetents, financial institutions, bankrupts, successors, foreign governments and aliens, trustees, and survivors. A prior section 4344, Pub. L. 85-859, title I, Sec. 141(a), Sept. 2, 1958, 72 Stat. 1298, made provision for an exemption from tax in the case of specified loan transactions, worthless stock and obligations, and transfers between certain revocable trusts. A prior section 4345, acts Aug. 16, 1954, ch. 736, 68A Stat. 518, Sec. 4345, formerly Sec. 4344; renumbered Sec. 4345 and amended Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1298, required an exemption certificate setting forth the facts as prescribed by regulations. A prior section 4346, acts Aug. 16, 1954, ch. 736, 68A Stat. 518, Sec. 4346, formerly Sec. 4345; renumbered Sec. 4346, Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1298, made cross reference to other sections for additional exemptions. A prior section 4351, acts Aug. 16, 1954, ch. 736, 68A Stat. 518; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1299, defined registered nominee and sale or transfer. A prior section 4352, acts Aug. 16, 1954, ch. 736, 68A Stat. 519, Sec. 4352, formerly Sec. 4353; renumbered Sec. 4352, Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1299, provided for the affixing of the stamps required either on the instrument itself or on the memorandum or bill of sale. A prior section 4353, Pub. L. 85-859, title I, Sec. 141(a), Sept. 2, 1958, 72 Stat. 1299, made provision for the payment of tax through the national securities exchanges without the use of stamps. A prior section 4354, acts Aug. 16, 1954, ch. 736, 68A Stat. 519; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1299, made cross references to section 4384 and subtitle F for penalties and other general and administrative provisions. A prior section 4361, acts Aug. 16, 1954, ch. 736, 68A Stat. 520; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1299; June 21, 1965, Pub. L. 89-44, title IV, Sec. 401(b), 79 Stat. 148, related to the imposition of a tax on each deed, instrument, or writing by which any realty is sold, assigned, transferred, or otherwise conveyed. A prior section 4362, acts Aug. 16, 1954, ch. 736, 68A Stat. 520; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1300, related to exemptions to the tax imposed by former section 4361. A prior section 4363, acts Aug. 16, 1954, ch. 736, 68A Stat. 520; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1300, related to cross references to former section 4384 and subtitle F of this title. A prior section 4375, acts Aug. 16, 1954, ch. 736, 68A Stat. 522; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1301, made cross-references to section 4384 and subtitle F. A prior section 4381, acts Aug. 16, 1954, ch. 736, 68A Stat. 523, Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1302, defined certificates of indebtedness, corporation, and shares or certificates of stock. A prior section 4382, acts Aug. 16, 1954, ch. 736, 68A Stat. 523; Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1302; Oct. 16, 1962, Pub. L. 87-834, Sec. 6(e)(2), 76 Stat. 984, granted exemptions to Government and state obligations, etc. A prior section 4383, Pub. L. 85-859, title I, 141(a), Sept. 2, 1958, 72 Stat. 1303, related to the taxation of continuing and terminated partnerships. A prior section 4384, acts Aug. 16, 1954, ch. 736, 68A Stat. 524, Sec. 4384, formerly Sec. 4383; renumbered Sec. 4384 and amended Sept. 2, 1958, Pub. L. 85-859, title I, Sec. 141(a), 72 Stat. 1303, related to liability for the tax. AMENDMENTS 1976 - Pub. L. 94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812, substituted "Policies Issued by Foreign Insurers" for "Documentary Stamp Taxes" as chapter heading and struck out items relating to subchapters C to E. 1965 - Pub. L. 89-44, title IV, Sec. 401(a), June 21, 1965, 79 Stat. 148, struck out items relating to subchapters A and B. EFFECTIVE DATES OF REPEAL Section 701(c)(1) of Pub. L. 89-44 provided that: "The amendments made by section 401 [repealing sections 4301 to 4305, 4311 to 4315, 4321 to 4324, 4331 to 4333, 4341 to 4346, 4351 to 4354 and 4381 of this title] (relating to documentary stamp taxes) shall apply on and after January 1, 1966." Repeal of sections 4361 to 4363, 4375, 4382 to 4384 by section 1904(a)(12) of Pub. L. 94-455 effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1904(d) of Pub. L. 94-455, set out as an Effective Date of 1976 Amendment note under section 4041 of this title. -End- -CITE- 26 USC Sec. 4371 01/02/2006 -EXPCITE- TITLE 26 - INTERNAL REVENUE CODE Subtitle D - Miscellaneous Excise Taxes CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS -HEAD- Sec. 4371. Imposition of tax -STATUTE- There is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax at the following rates: (1) Casualty insurance and indemnity bonds 4 cents on each dollar, or fractional part thereof, of the premium paid on the policy of casualty insurance or the indemnity bond, if issued to or for, or in the name of, an insured as defined in section 4372(d); (2) Life insurance, sickness, and accident policies, and annuity contracts 1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of life, sickness, or accident insurance, or annuity contract; and (3) Reinsurance 1 cent on each dollar, or fractional part thereof, of the premium paid on the policy of reinsurance covering any of the contracts taxable under paragraph (1) or (2). -SOURCE- (Aug. 16, 1954, ch. 736, 68A Stat. 521; Mar. 13, 1956, ch. 83, Sec. 5(9), 70 Stat. 49; Pub. L. 85-859, title I, Sec. 141(a), Sept. 2, 1958, 72 Stat. 1300; Pub. L. 86-69, Sec. 3(f)(3), June 25, 1959, 73 Stat. 140; Pub. L. 89-44, title VIII, Sec. 804(b), June 21, 1965, 79 Stat. 160; Pub. L. 94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812; Pub. L. 98-369, div. A, title II, Sec. 211(b)(23), July 18, 1984, 98 Stat. 757; Pub. L. 100-203, title X, Sec. 10242(c)(3), Dec. 22, 1987, 101 Stat. 1330-423; Pub. L. 101- 239, title VII, Sec. 7811(i)(11), Dec. 19, 1989, 103 Stat. 2411.) -MISC1- AMENDMENTS 1989 - Par. (2). Pub. L. 101-239 struck out ", unless the insurer is subject to tax under section 842(b)" after "or annuity contract". 1987 - Par. (2). Pub. L. 100-203 substituted "section 842(b)" for "section 813". 1984 - Par. (2). Pub. L. 98-369 substituted "section 813" for "section 819". 1976 - Pub. L. 94-455 substituted in par. (1) "4 cents" for "four cents" and "premium paid" for "premium charged", in pars. (2) and (3) "1 cent" for "one cent" and "premium paid" for "premium charged", and struck out provision following par. (3) relating to computation of tax on premium paid in lieu of premium charged. 1965 - Pub. L. 89-44 inserted last sentence relating to computation of tax on premium paid in lieu of premium charged. 1959 - Par. (2). Pub. L. 86-69 substituted "section 819" for "section 816". 1958 - Pub. L. 85-859 substituted "is hereby imposed, on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer, a tax" for "shall be imposed a tax on each policy of insurance, indemnity bond, annuity contract, or policy of reinsurance issued by any foreign insurer or reinsurer". 1956 - Par. (2). Act Mar. 13, 1956, substituted "section 816" for "section 807". EFFECTIVE DATE OF 1989 AMENDMENT Amendment by Pub. L. 101-239 effective, except as otherwise provided, as if included in the provision of the Technical and Miscellaneous Revenue Act of 1988, Pub. L. 100-647, to which such amendment relates, see section 7817 of Pub. L. 101-239, set out as a note under section 1 of this title. EFFECTIVE DATE OF 1987 AMENDMENT Amendment by Pub. L. 100-203 applicable to taxable years beginning after Dec. 31, 1987, see section 10242(d) of Pub. L. 100- 203, set out as a note under section 816 of this title. EFFECTIVE DATE OF 1984 AMENDMENT Amendment by Pub. L. 98-369 applicable to taxable years beginning after Dec. 31, 1983, see section 215 of Pub. L. 98-369, set out as an Effective Date note under section 801 of this title. EFFECTIVE DATE OF 1976 AMENDMENT Amendment by Pub. L. 94-455 effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1904(d) of Pub. L. 94-455, set out as a note under section 4041 of this title. EFFECTIVE DATE OF 1965 AMENDMENT Amendment by Pub. L. 89-44 applicable with respect to policies, bonds, and contracts with respect to which the tax imposed by this section is required to be paid on the basis of a return, see section 804(c) of Pub. L. 89-44, set out as a note under section 4374 of this title. EFFECTIVE DATE OF 1959 AMENDMENT Amendment by Pub. L. 86-69 applicable only with respect to taxable years beginning after Dec. 31, 1957, see section 4 of Pub. L. 86-69, set out as an Effective Date note under section 381 of this title. EFFECTIVE DATE OF 1958 AMENDMENT Amendment by Pub. L. 85-859 effective on first day of first calendar quarter which begins more than 60 days after Sept. 2, 1958, see section 1(c) of Pub. L. 85-859. EFFECTIVE DATE OF 1956 AMENDMENT Amendment by act Mar. 13, 1956, applicable only to taxable years beginning after Dec. 31, 1954, see section 6 of act Mar. 13, 1956, set out as a note under section 316 of this title. -End- -CITE- 26 USC Sec. 4372 01/02/2006 -EXPCITE- TITLE 26 - INTERNAL REVENUE CODE Subtitle D - Miscellaneous Excise Taxes CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS -HEAD- Sec. 4372. Definitions -STATUTE- (a) Foreign insurer or reinsurer For purposes of section 4371, the term "foreign insurer or reinsurer" means an insurer or reinsurer who is a nonresident alien individual, or a foreign partnership, or a foreign corporation. The term includes a nonresident alien individual, foreign partnership, or foreign corporation which shall become bound by an obligation of the nature of an indemnity bond. The term does not include a foreign government, or municipal or other corporation exercising the taxing power. (b) Policy of casualty insurance For purposes of section 4371(1), the term "policy of casualty insurance" means any policy (other than life) or other instrument by whatever name called whereby a contract of insurance is made, continued, or renewed. (c) Indemnity bond For purposes of this chapter the term "indemnity bond" means any instrument by whatever name called whereby an obligation of the nature of an indemnity, fidelity, or surety bond is made, continued, or renewed. The term includes any bond for indemnifying any person who shall have become bound or engaged as surety, and any bond for the due execution or performance of any contract, obligation, or requirement, or the duties of any office or position, and to account for money received by virtue thereof, where a premium is charged for the execution of such bond. (d) Insured For purposes of section 4371(1), the term "insured" means - (1) a domestic corporation or partnership, or an individual resident of the United States, against, or with respect to, hazards, risks, losses, or liabilities wholly or partly within the United States, or (2) a foreign corporation, foreign partnership, or nonresident individual, engaged in a trade or business within the United States, against, or with respect to hazards, risks, or liabilities within the United States. (e) Policy of life, sickness, or accident insurance, or annuity contract For the purpose of section 4371(2), the term "policy of life, sickness, or accident insurance, or annuity contract" means any policy or other instrument by whatever name called whereby a contract of insurance or an annuity contract is made, continued, or renewed with respect to the life or hazards to the person of a citizen or resident of the United States. (f) Policy of reinsurance For the purpose of section 4371(3), the term "policy of reinsurance" means any policy or other instrument by whatever name called whereby a contract of reinsurance is made, continued, or renewed against, or with respect to, any of the hazards, risks, losses, or liabilities covered by contracts taxable under paragraph (1) or (2) of section 4371. -SOURCE- (Aug. 16, 1954, ch. 736, 68A Stat. 521; Pub. L. 85-859, title I, Sec. 141(a), Sept. 2, 1958, 72 Stat. 1300; Pub. L. 94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1812.) -MISC1- AMENDMENTS 1976 - Subsec. (a). Pub. L. 94-455 substituted "section 4371" for "this subchapter", and inserted provision that term does not include a foreign government, or municipal or other corporation exercising the taxing power. Subsec. (c). Pub. L. 94-455 substituted "this chapter" for "this subchapter". 1958 - Subsec. (d)(2). Pub. L. 85-859 inserted "against, or" before "with respect to". EFFECTIVE DATE OF 1976 AMENDMENT Amendment by Pub. L. 94-455 effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1904(d) of Pub. L. 94-455, set out as a note under section 4041 of this title. EFFECTIVE DATE OF 1958 AMENDMENT Amendment by Pub. L. 85-859 effective on first day of first calendar quarter which begins more than 60 days after Sept. 2, 1958, see section 1(c) of Pub. L. 85-859. -End- -CITE- 26 USC Sec. 4373 01/02/2006 -EXPCITE- TITLE 26 - INTERNAL REVENUE CODE Subtitle D - Miscellaneous Excise Taxes CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS -HEAD- Sec. 4373. Exemptions -STATUTE- The tax imposed by section 4371 shall not apply to - (1) Effectively connected items Any amount which is effectively connected with the conduct of a trade or business within the United States unless such amount is exempt from the application of section 882(a) pursuant to a treaty obligation of the United States. (2) Indemnity bond Any indemnity bond required to be filed by any person to secure payment of any pension, allowance, allotment, relief, or insurance by the United States, or to secure a duplicate for, or the payment of, any bond, note, certificate of indebtedness, war- saving certificate, warrant or check, issued by the United States. -SOURCE- (Aug. 16, 1954, ch. 736, 68A Stat. 522; Pub. L. 85-859, title I, Sec. 141(a), Sept. 2, 1958, 72 Stat. 1301; Pub. L. 94-455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1813; Pub. L. 100- 647, title I, Sec. 1012(q)(13)(A), Nov. 10, 1988, 102 Stat. 3525.) -MISC1- AMENDMENTS 1988 - Par. (1). Pub. L. 100-647 amended par. (1) generally, substituting provisions relating to effectively connected items for provisions relating to domestic agent. 1976 - Par. (1). Pub. L. 94-455 substituted "State, or in the District of Columbia, within" for "State, Territory, or District of the United States within". 1958 - Pub. L. 85-859 reenacted section without change. EFFECTIVE DATE OF 1988 AMENDMENT Section 1012(q)(13)(B) of Pub. L. 100-647 provided that: "The amendment made by subparagraph (A) [amending this section] shall apply with respect to premiums paid after the date 30 days after the date of the enactment of this Act [Nov. 10, 1988]." EFFECTIVE DATE OF 1976 AMENDMENT Amendment by Pub. L. 94-455 effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1904(d) of Pub. L. 94-455, set out as a note under section 4041 of this title. -End- -CITE- 26 USC Sec. 4374 01/02/2006 -EXPCITE- TITLE 26 - INTERNAL REVENUE CODE Subtitle D - Miscellaneous Excise Taxes CHAPTER 34 - POLICIES ISSUED BY FOREIGN INSURERS -HEAD- Sec. 4374. Liability for tax -STATUTE- The tax imposed by this chapter shall be paid, on the basis of a return, by any person who makes, signs, issues, or sells any of the documents and instruments subject to the tax, or for whose use or benefit the same are made, signed, issued, or sold. The United States or any agency or instrumentality thereof shall not be liable for the tax. -SOURCE- (Aug. 16, 1954, ch. 736, 68A Stat. 522; Pub. L. 85-859, title I, Sec. 141(a), Sept. 2, 1958, 72 Stat. 1301; Pub. L. 89-44, title VIII, Sec. 804(a)(1), (2), June 21, 1965, 79 Stat. 160; Pub. L. 94- 455, title XIX, Sec. 1904(a)(12), Oct. 4, 1976, 90 Stat. 1813.) -MISC1- PRIOR PROVISIONS For provisions of prior sections 4375, 4381 to 4384, see Prior Provisions note preceding section 4371 of this title. AMENDMENTS 1976 - Pub. L. 94-455 substituted in section catchline "Liability for tax" for "Payment of tax" and in text provisions relating to payment of tax on basis of a return and to tax-exempt status of United States and its agencies and instrumentalities for provisions relating to placing of stamps on any policy, indemnity bond, or annuity contract referred to in section 4371 and to regulation by Secretary that tax be paid on basis of a return. 1965 - Pub. L. 89-44 substituted "Payment of tax" for "Affixing of stamps" in section catchline, and inserted sentence authorizing Secretary or his delegate to provide by regulation for payment on basis of a return of tax imposed by section 4371. 1958 - Pub. L. 85-859 reenacted section without change. EFFECTIVE DATE OF 1976 AMENDMENT Amendment by Pub. L. 94-455 effective on first day of first month which begins more than 90 days after Oct. 4, 1976, see section 1904(d) of Pub. L. 94-455, set out as a note under section 4041 of this title. EFFECTIVE DATE OF 1965 AMENDMENT Section 804(c) of Pub. L. 89-44 provided that: "The amendments made by subsection (a) [amending this section] shall take effect on July 1, 1965. The amendments made by subsection (b) [amending section 4371 of this title] shall apply with respect to policies, bonds, and contracts with respect to which the tax imposed by section 4371 of the Code is required to be paid on the basis of a return." DETERMINATION OF PARTNERSHIP AS CONTINUING OR TERMINATED PARTNERSHIP Section 141(b) of Pub. L. 85-859 mandated that only changes in the partnership occurring on or after the effective date specified in section 1(c) of Pub. L. 85-859 shall be taken into account in the determination of whether a partnership is a continuing or terminated one. -End-