Rev. Rul. 65-28

The following instructions should be followed by employers in filing information returns for 1964 under section 6052(a) of the Internal Revenue Code of 1954 (relating to returns regarding payment of wages in the form of group-term life insurance):

The return should be made on Form 1099, U.S. Information Return for Calendar Year, on or before February 28, 1965, and should contain the following information:

(i) The employer's name, address, and identifying number;

(ii) The employee's name, address, and social security number: and

(iii) The total amount includible in the employee's gross income by reason of section 79 of the Code, computed as if each employee reported his income on a calendar year basis (determined as if the employer making the return is the only employer paying wages to the employee in the form of group-term life insurance).

The following table should be used in computing the cost of groupterm life insurance on an employee's life for purposes of determining the amount includible in his gross income with respect to such insurance:

  Uniform premiums for $1,000 of group-term life insurance protection.

¹ Based on Technical Information Releases 669 and 682, dated Dec. 24, 1964, and Jan. 27, 1965.