ADMINISTRATIVE

Rev. Proc. 2018–20, page 427. This revenue procedure extends the safe harbor set forth in Rev. Proc. 2010–28, 2010–34 I.R.B. 270, concerning the application of Internal Revenue Code sections 7702 and 7702A, to life insurance contracts that have mortality guarantees based on the 2017 Commissioners’ Standard Ordinary Mortality Tables or any other prevailing commissioners’ standard tables that extend beyond age 100 and that may continue in force after the day on which the insured individual attains age 100. The safe harbor applies to life insurance contracts that are intended to qualify as life insurance contracts and avoid characterization as modified endowment contracts, or MECs, under section 7702A, provided the contract complies with certain testing methodologies set out in the revenue procedure. Rev. Proc. 2010–28 modified and superseded.