ECONOMIC BENEFIT INFORMATION
split-dollar economic benefit reporting
The tools below are provided to assist clients and advisors in calculating Split-Dollar Economic Benefit Reporting.
Due to specific changes in the applicability of rates to certain types of split dollar arrangements (with which Lincoln is not party to and has no direct knowledge of), and rules that can currently tax certain cash values, Lincoln will only be providing certain policy information to the policyowner. This will include potentially applicable term rates.
The policyowner's tax advisor will have to decide which pieces of information are appropriate to which agreement and which calculations to use, based on IRS rules. Lincoln will not be able to provide a definitive answer as to the exact calculation that should be used. In order to assist clients in complying with these regulations, Lincoln has developed a worksheet that the client will be able to use with his or her tax advisor.
This page includes a downloadable copy of the worksheet, IRS and company rate charts, and a Frequently Asked Questions document.
Frequently Asked Questions
- Economic Benefit Calculations for the Tax Year (PDF)- Answers questions regarding the economic benefit reporting for the tax year and how Lincoln will respond to requests for economic benefit calculations.
Worksheets
- Single Life Worksheet (PDF)- Preview of cover letter and worksheet clients will recieve when a request is made for a single life policy.
- Joint Life Worksheet (PDF)- Preview of cover letter and worksheet clients will recieve when a request is made for a joint life policy.
IRS Rate Charts
- IRS Table 2001 Rates (PDF) -Single Life
- IRS Survivorship Rates (Excel)
Company Rate Chart - 2009 Reporting
If you require assistance from a customer service representative:
| Type of product/company | Specific policy type | Contact Number |
Variable Universal Life |
Legacy Jefferson Pilot | 800-453-8588 |
| Lincoln (current and Legacy) | 800-444-2363 | |
| Connecticut General | 800-444-2363 | |
Universal Life (UL) |
All Lincoln, legacy Jefferson Pilot and Connecticut General UL (except polices with 5 million policy numbers) | 800-807-2233 Select any option |
| Connecticut General UL with 5 million policy numbers (example: CG5123456) | 866-835-3223 | |
Whole Life |
Connecticut General Whole Life | 866-835-3223 |
| Aetna/ING | Aetna/ING | 800-334-7586 |
| Lincoln (Fort Wayne) | Legacy (Fort Wayne) Lincoln | 877-200-8213 |
| First Penn | UL, TermUL and MoneyGuard | 800-962-1652 |
| Term | 800-807-2233 Select any option | |
| Lincoln Term UL and Lincoln MoneyGuard | Lincoln Term UL and Lincoln MoneyGuard | 800-962-1654 |
IRS Circular 230 Disclosure: This material was prepared to support the promotion and marketing of a product. Lincoln Financial Group® affiliates, their distributors, and their respective employees, representatives and/or insurance agents do not provide tax, accounting, or legal advice. Any tax statements contained herein were not intended or written to be used, and cannot be used for the purpose of avoiding U.S. federal, state or local tax penalties. Clients should consult their own independent advisor as to any tax, accounting or legal statements made herein.
