1099-SB

Seller's Investment in Life Insurance Contract

Agency
IRS
Revision
Rev. April 2025
Fillable fields
25
Pages
4
Official source
IRS form page
Checked
October 21, 2026
Fill 1099-SB online
Page 1 of form 1099-SB

Form 1099-SB: Seller's Investment in Life Insurance Contract

Form 1099-SB, Seller's Investment in Life Insurance Contract, is an information return filed by the issuer of a life insurance contract. The instructions say the issuer uses it to report the seller's investment in the contract and the surrender amount when an interest in the contract is transferred in a "reportable policy sale" or transferred to a foreign person.

The IRS page says the issuer files it after receiving a statement from an acquirer in a reportable policy sale under section 6050Y(a), or notice of a transfer of the contract to a foreign person. Copy A is for the IRS and Copy B goes to the seller, who keeps it for their records. The Instructions for Seller on Copy B explain both boxes and the issuer's contact information.

The PDF says Copy A printed from the IRS website is not scannable and is for information only, while Copy B can be printed and used to give the seller the information. You can fill out the PDF free in your browser on this page and download it without an account.

Top of page 1 of Form 1099-SB: Seller's Investment in Life Insurance Contract, as printed by IRS

What's on Form 1099-SB

Issuer and seller boxes

The issuer's name, address, telephone number and TIN, and the seller's TIN, name and address.

Policy number

The unique number assigned to the life insurance contract by the issuer responsible for administering it.

Box 1: Investment in contract

The seller's investment in the contract. For a seller other than the original policyholder, it is limited to what the issuer knows or can reasonably estimate.

Box 2: Surrender amount

The amount the seller would have received if the contract had been surrendered to the issuer on the date of the sale or transfer.

Issuer's information contact

The name, address and telephone number of the issuer's information contact, if different from the issuer. The contact gives direct access to a person who can answer questions about the return.

Copies A and B

Copy A is for the Internal Revenue Service Center. Copy B is for the seller and carries the Instructions for Seller.

How to fill out Form 1099-SB

  1. 1

    Issuer details

    Enter the issuer's name, address, telephone number and TIN. The instructions say an issuer's TIN may not be truncated on any form.

  2. 2

    Information contact

    Enter the information contact's name and telephone number if different from the issuer. The instructions say the individual named must be familiar with the reporting requirements of reportable policy sales.

  3. 3

    Seller and policy number

    File a separate form for each seller. Enter the seller's name, address and TIN and the policy number. The seller's TIN may be truncated on Copy B, but not on documents filed with the IRS.

  4. 4

    Box 1

    Enter the seller's investment in the contract. For the original policyholder, the instructions define it as premiums or other consideration paid, less amounts received that were excludable from gross income.

  5. 5

    Box 2

    Enter the surrender amount as of the date of the reportable policy sale or the transfer of the contract to a foreign person.

  6. 6

    Rescissions

    If the sale or transfer is rescinded after the form was filed or furnished, the instructions say a corrected Form 1099-SB is filed, and a corrected statement furnished, within 15 calendar days of the notice of rescission.

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Copies, e-filing and statements

Copy A from the website

The PDF says not to print and file Copy A downloaded from the IRS website, because it is not scannable and a penalty may be imposed. Official forms can be ordered at IRS.gov/EmployerForms.

E-filing

The instructions say the e-file threshold was lowered to 10 returns, counted across all information returns, for returns required to be filed on or after January 1, 2024. IRS.gov/IRIS has e-file information.

Statement to the seller

A filer furnishes a statement or acceptable substitute to the seller, such as Copy B. The instructions say Copy B has been made fillable online to ease furnishing statements.

When and where to file

These instructions print no due date. They say to also use the General Instructions for Certain Information Returns, which cover who must file and when and where to file.

Which revision to use

The instructions are a continuous-use revision for tax year 2025 and later years until a superseding revision is issued.

Related forms

Who files Form 1099-SB?

  • Life insurance issuers

    The instructions say an issuer is any person that bears any part of the risk on a life insurance contract and any person responsible for administering it, including collecting premiums and paying death benefits. A designee is also an issuer.

  • After an acquirer's statement

    One trigger is receiving a statement from an acquirer in a reportable policy sale under section 6050Y(a), such as a copy of a Form 1099-LS, Reportable Life Insurance Sale.

  • After notice of a foreign transfer

    The other trigger is notice, from a source other than the issuer administering the contract, of a transfer of the contract to a foreign person.

  • Sellers

    A seller holds an interest in a life insurance contract and transfers it to an acquirer in a reportable policy sale, or transfers the contract to a foreign person. The seller receives Copy B.

  • Exceptions and unified reporting

    The instructions say an issuer may not have to file if it qualifies for an exception in Regulations section 1.6050Y-3(f), or if another issuer or a third party contractor reports for it under section 1.6050Y-3(b).

The issuer of the life insurance contract completes and files the form. The seller receives Copy B and does not file it with the IRS.

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Questions about Form 1099-SB

Who files Form 1099-SB?

The issuer of a life insurance contract, after receiving a statement from an acquirer in a reportable policy sale or notice of a transfer of the contract to a foreign person.

Does the seller file Form 1099-SB?

No. The issuer files it with the IRS and furnishes Copy B to the seller, which the form says to keep for your records.

What is a reportable policy sale?

The instructions say that, in general, it is any direct or indirect acquisition of an interest in a life insurance contract if the acquirer has no substantial family, business or financial relationship with the insured, apart from its interest in the contract.

How is Form 1099-SB related to Form 1099-LS?

The instructions give a copy of Form 1099-LS, Reportable Life Insurance Sale, as an example of the acquirer's statement that leads the issuer to file Form 1099-SB.

What if the sale is rescinded?

The instructions say a corrected Form 1099-SB is filed, and a corrected statement furnished, within 15 calendar days of receiving notice of the rescission.

Can Copy A printed from the IRS website be filed?

No. The PDF says Copy A is provided for informational purposes only and is not scannable. Copy B and the other black copies can be printed and given to the seller.