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Form 1120-L U.S. Life Insurance Company Income Tax Return OMB No. 1545-0123
Department of the Treasury For calendar year 2023 or tax year beginning , 2023, ending , 20
Internal Revenue Service Go to www.irs.gov/Form1120L for instructions and the latest information. 2023
A Check if: Name B Employer identification number
1 Consolidated return Please
(attach Form 851) print Number, street, and room or suite no. If a P.O. box, see instructions. C Date incorporated
2 Life-nonlife or
consolidated return type
3 Schedule M-3 (Form City or town, state or province, country, and ZIP or foreign postal code D Check applicable box if an
election has been made under
1120-L) attached section(s):
E Check if: (1) Final return (2) Name change (3) Address change (4) Amended return 953(c)(3)(C) 953(d)
1 Gross premiums, etc., less return premiums, etc. Enter balance . . . . . . . . . . . . . . 1
2 Net decrease, if any, in reserves (Schedule F, line 12) . . . . . . . . . . . . . . . . . 2
3a Decrease in reserves under section 807(f) . . . . . . . . . . . . . . . . . . . . 3a
b Income from Reserve Transition Relief (see instructions) . . . . . . . . . . . . . . . . 3b
(line 6 is reserved) 4 Investment income (Schedule B, line 6) (see instructions) . . . . . . . . . . . . . . . . 4
5 Capital gain net income (Schedule D (Form 1120)) . . . . . . . . . . . . . . . . . . 5
7 Other income (attach statement) . . . . . . . . . . . . . . . . . . . . . . . 7
Income 8 Life insurance company gross income. Add lines 1 through 7 . . . . . . . . . . . . . . . 8
9 Death benefits, etc. . . . . . . . . . . . . . . . . . . . . . . . . . . . 9
10 Net increase, if any, in reserves (Schedule F, line 12) . . . . . . . . . . . . . . . . . 10
11a Increase in reserves under section 807(f) . . . . . . . . . . . . . . . . . . . . . 11a
b Deduction from Reserve Transition Relief (see instructions) . . . . . . . . . . . . . . . 11b
12 Deductible policyholder dividends under section 808 . . . . . . . . . . . . . . . . . 12
13 Assumption by another person of liabilities under insurance, etc., contracts . . . . . . . . . . 13
14 Dividends reimbursable by taxpayer . . . . . . . . . . . . . . . . . . . . . . 14
15a Interest b Less tax-exempt interest expense c Balance 15c
16 Deductible policy acquisition expenses (Schedule G, line 20) . . . . . . . . . . . . . . . 16
17 Reserved for future use . . . . . . . . . . . . . . . . . . . . . . . . . . 17
18 Other deductions (see instructions) (attach statement) . . . . . . . . . . . . . . . . . 18
19 Add lines 9 through 18 . . . . . . . . . . . . . . . . . . . . . . . . . . 19
20 Subtotal. Subtract line 19 from line 8 . . . . . . . . . . . . . . . . . . . . . . 20
(See instructions for limitations on deductions.) 21a Dividends-received and other special deductions (Schedule A, line 22) . . . . 21a
Plus: b. Net operating loss deduction (see instructions) (attach statement) . . . 21b 21c
22 Gain or (loss) from operations. Subtract line 21c from line 20 . . . . . . . . . . . . . . . 22
23 Life insurance company taxable income (LICTI). Enter line 22 here . . . . . . . . . . . . . 23
Deductions 24 Phased inclusion of balance of policyholders surplus account (see instructions) . . . . . . . . . 24
25 Taxable income. Add lines 23 and 24 (see instructions) . . . . . . . . . . . . . . . . 25
26 Total tax (Schedule K, line 12) . . . . . . . . . . . . . . . . . . . . . . . . 26
27a Preceding year's overpayment credited to the current year . . . . . . . 27a
b Current year’s estimated tax payments . . . . . . . . . . . . . 27b
c Current year’s refund applied for on Form 4466 . . . . . . . . . . . 27c ( ) 27d
e Tax deposited with Form 7004 . . . . . . . . . . . . . . . . 27e
f Credit for tax paid on undistributed capital gains (attach Form 2439) . . . . . 27f
g Credit for federal tax paid on fuels (attach Form 4136) . . . . . . . . . 27g
h U.S. income tax paid or withheld at source (attach Form 1042-S) . . . . . . 27h
i Elective payment election amount from Form 3800 . . . . . . . . . . 27i
z Other credits and payments (see instructions—attach statement) . . . . . 27z
28 Total payments and credits. Combine lines 27d through 27z . . . . . . . . . . . . . . 28
29 Estimated tax penalty. Check if Form 2220 is attached . . . . . . . . . . . . . . . . 29
Tax, Refundable Credits, and Payments 30 Amount owed. If line 28 is smaller than the total of lines 26 and 29, enter amount owed . . . . . . . 30
31 Overpayment. If line 28 is larger than the total of lines 26 and 29, enter amount overpaid . . . . . . 31
32 Enter amount from line 31: Credited to 2024 estimated tax . . Refunded . . 32
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true,
correct, and complete. Declaration of preparer (other than taxpayer) is based on all information of which preparer has any knowledge.
Sign May the IRS discuss this return
Here with the preparer shown below?
Signature of officer Date Title See instructions. Yes No
Print/Type preparer’s name Preparer’s signature Date
Paid Check if PTIN
self-employed
Preparer
Firm’s name Firm’s EIN
Use Only Firm’s address Phone no.
For Paperwork Reduction Act Notice, see separate instructions. Cat. No. 11480E Form 1120-L (2023)
