Monday, February 26, 2024

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GCP Short: Is the 831(b) tax election still valid for captive insurers?

Mikhail Raybshteyn, EY
Paul Phillips, EY

This GCP Short, produced in partnership with EY, has been recorded in response to the publication of new Internal Revenue Service proposals concerning captives making the 831(b) tax election.

Captive Intelligence published a long read on Friday, 21 April with reaction from across the industry to the proposed regs which sets out definitions that would designate some, potentially many, micro-captives as ‘listed transactions’, and others as ‘transactions of interest’.

In this 18 minute discussion, Richard is joined by EY partners and captive leaders Paul Phillips and Mikhail Raybshteyn who give their view on the situation as it stands, and what the proposed regulations will really mean in practice for captive owners, service providers and the wider industry.

You can read EY’s tax alert on the proposed regulations here, and visit their Friend of the Podcast page for more information on EY’s captive services.