The IRS' statement "is a combination of past talking points that are meant to scare business owners utilising captives into exiting their captive structures, regardless of whether they are doing the right thing or not”, says Ryan Work of SIIA
The IRS said taxpayers should not assume it will able to settle any transactions with the IRS or chief counsel on terms more favourable than the previously announced settlement offers
In addition to surplus lines policies purchased directly from non-admitted insurance companies, premiums paid to a captive insurance company must also be reported on Form IG255
The European Commission has launched a public consultation on the review of the EU's prudential rules for insurance and reinsurance companies, known as the Solvency II Directive
The American Bankers Association has written a letter to the Federal Housing Finance Agency requesting for them to overturn its decision on banning captive insurance companies from its membership
The American Bankers Association has written a letter to the Federal Housing Finance Agency requesting them to overturn its decision on banning captive insurance companies from its membership
The Self-Insurance Institute of America advocated for the Pandemic Risk Insurance Act of 2020 (PRIA) to include captive insurance participation in its early stages, according to Ryan Work, vice president of government relations for SIIA
