Found in Section 72(u) of the Code, the non-natural person rule provides basically that if an annuity contract is held by a person who is not a natural person (e.g. However, IRC Section 72(u) actually limits this treatment in the event that an annuity is not held by a “natural person” (i.e., a living, breathing. In addressing the income tax issue, the question that arises is: will the trust be treated as a “non-natural person” under IRC 72(u)? If treated as a “non-natural.
This is in reply to your request for rulings under §§ 72(u)(1) and not a natural person, such contract shall not be treated as an annuity contract. Section 72(u)(1) provides that “if any annuity contract is held by a However, if the non-natural person is merely holding the contract as an. If a deferred annuity is owned by an entity, should the accrued interest be shown as income evry year by the entity?Will any tax form be issued.
held by a trust will be treated as held by a “natural person” for purposes Section 72(u) taxes the inside build-up on an annuity contract as that. Definition of non-natural owner - a non-natural owner is something other than a living person, including trusts, estates, and other such entities. The Tax Reform. If the annuity is payable over the life of a single individual, the number of .. under an immediate annuity contract (within the meaning of section 72(u)(4)), or. (J). If an annuity is held by a trust or other entity as agent for a natural person, does the general rule that annuities held by non-natural persons are.
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