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FROM THE OFFICE OF PUBLIC AFFAIRS To view or print the PDF content on this page, download the free Adobe® Acrobat® Reader®. January 23, 2003KD-3789 INSURANCE COMPANIES
Life insurance companies generally are required to file annual statements with state insurance regulators. The revenue ruling provides that the treatment of assets on these statements will not determine if the assets are to be considered connected with the foreign insurance company's U.S. business activities for U.S. tax purposes, but this treatment will be given due regard. Due regard will also be given to the treatment of the assets on the books and records of the insurance company's U.S. trade or business. This guidance addresses an important question for foreign companies with U.S. life insurance businesses. The text of Revenue Ruling 2003-17 is attached.
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