26 U.S.C. § 4371 — Imposition of tax
Verified against govinfo.gov as of June 20, 2026View official text on govinfo.gov ↗
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 bonds4 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 contracts1 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)Reinsurance1 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).