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INSURANCE TAX SEMINARA DIALOGUE WITH GOVERNMENT PERSONNEL ON INSURANCE COMPANY AND PRODUCT TAX ISSUES

31st Annual

May 30-31, 2019JW Marriott • Washington, D.C.

Register today at www.fedbar.org/InsTax19

The insurance industry is constantly evolving. Longstand-ing industry tax issues, globalization, and the effects of tax reform are forcing companies to remain agile in a changing environment. Industry tax professionals, consultants, and IRS representatives must navigate open issues and negoti-ate their way together through changing regulatory and tax regimes. The FBA Section on Taxation facilitates a dialogue between insurance industry and government sector profes-sionals and allows participants to stay up-to-date on the lat-est tax developments and guidance—and provides an oppor-tunity for professional networking. Throughout the program, subject matter experts from “both sides of the aisle” share information and viewpoints on myriad company tax, product tax, and other relevant insurance tax topics.

PRESENTED BY THE FEDERAL BAR ASSOCIATION SECTION ON TAXATION IN CONJUNCTION WITH THE OFFICE OF CHIEF COUNSEL, INTERNAL REVENUE SERVICE

SEMINAR CO-CHAIRS

Jean BaxleyManaging Director, Deloitte

Tax LLP

Surjya MitraManaging Director, PwC

Alexis A. MacIvorBranch Chief, Insurance Branch, FI&P, Office of

Chief Counsel, IRS

ADVISORY COMMITTEE

Stephen R. Baker

Ann CammackRobert A. Fishbein

John ForniMark E. Griffin

J. Walker JohnsonLori J. Jones

Nicholas R. MetcalfMandana Parsazad

Kristan RizzoloLori Robbins

Scott W. RyndaSarah SheldonMark S. Smith

Brenda Viehe-Naes

EARLY BIRD RATE (ON OR BEFORE 4/26/19)

FBA Sustaining Member $475FBA Member $500Nonmember $680Government $125Student $90

STANDARD RATE (AFTER 4/26/19)

FBA Sustaining Member $520FBA Member $550Nonmember $730Government $135Student $90

REGISTER TODAY TO ADVANCE YOUR KNOWLEDGE AND NETWORK

WWW.FEDBAR.ORG/INSTAX19

• Quick and easy online registration• Download printable registration form and fax to

(571) 481-9090• For group registrations of 5+, contact Caitlin Rider,

Sr. Meeting Planner, at crider@fedbar.org

REGISTRATION RATES

The FBA’s new sponsorship package combines print and digital exposure, advertising, and exclusive benefits to maximize your visibility to the FBA membership of over 19,000- plus attorneys practicing federal law in courts across the United States. Join our distinguished list of sponsors who help make both long-standing and new FBA conferences and seminars possible. Contact Elizabeth Johnson (ejohnson@fedbar. org) to secure your sponsorship today!

THANK YOU TO OUR SPONSORS

PREMIER SPONSORS

EVENT PARTNER

Welcome reception hosted by Crowe LLP – By invitation only.

www.fedbar.org/InsTax19 for details.

Wednesday, May 29

THURSDAY, MAY 307:45–8:45 a.m. Registration and Continental Breakfast

8:45–9:00 a.m. Introduction and Welcome by the Seminar CoordinatorsJean Baxley, Managing Director, Deloitte Tax LLPSurjya Mitra, Managing Director, PwCAlexis A. MacIvor, Branch Chief, Insurance Branch, FI&P, Office of Chief Counsel, IRS

9:00–10:00 a.m. Session 1: Tax Reform: Past and ProspectiveThe Tax Cuts and Jobs Act (TCJA), passed in 2017, made substantial changes to the US income tax regime for businesses, and included changes specifically aimed at insurance company taxation. Treasury and the IRS continue to issue guidance on numerous newly passed provisions, and there could be more legislative changes ahead. This panel will address the status of tax reform, past, current, and prospective. Attendees will (1) gain insights regarding the tax reform process and TCJA and (2) obtain opinions and information regarding possible tax law changes going forward.

Ann Cammack, Principal, EY (moderator)Speakers to be determined

10:10–11:10 a.m. Session 2A: Life Company IssuesThis panel will focus on technical issues in life insurance taxation including changes to Subchapter L as a result of the Tax Cuts and Jobs Act, recently issued guidance, and current audit issues.

Jason Stern, Tax Senior Manager, Deloitte Tax LLP (moderator)Bill Elwell, Vice President & Senior Counsel, Massachusetts Mutual Life Insurance CompanyDaniel Kheel, Vice President, Tax Planning and Strategy, Metropolitan Life Insurance CompanyAlexis A. MacIvor, Branch Chief, Insurance Branch, FI&P, Office of Chief Counsel, IRSRegina Rose, Senior Vice President, Taxes & Retirement Security, American Council of Life Insurers

Session 2B: Just BEAT and Nothing but the BEAT

The Base Erosion and Anti-abuse Tax (“BEAT”) introduced as part of the Tax Cut and Jobs Act has the potential to fundamentally change the global insurance markets; but will it? Our panelists will discuss what we know (and don’t know) about the operation of this new statute. Will the soon to be issued final regulations answer the industry’s open questions and concerns? Join this discussion and find out.

John Forni, Managing Director, Grant Thornton LLP (moderator)Paul Aronoff, Vice President & Tax Counsel, Prudential Financial, Inc.Rich Burness, Senior Vice President & Global Head of Tax, AtheneJason Kaplan, Principal, International Tax, Deloitte Tax LLPStuart Katz, Director, International Tax, KPMG LLPAngela Walitt, Attorney-Advisor, Office of Tax Policy, U.S. Department of the Treasury

Session 2C: Compensation and Benefits IssuesPanelists will discuss the latest developments impacting the deductibility of executive compensation and certain business-related expenses, focusing on the elimination of the performance-based exception to section 162(m) and the new rules in effect impacting the deductibility of meals and entertainment, transit pass programs and employer provided parking. The panelists will focus on interim guidance issued by the IRS, specifically Notice 2018-68, Information Release 2018-195, Notice 2018-76 and Notice 2018-99.

Ernest V. Molinari, Vice President & Corporate Counsel, Prudential Financial, Inc. (moderator)Deena Devereaux, Senior Technician Reviewer, Branch 7, ITA, Office of Chief Counsel, IRSIlya Enkishev, Attorney, Executive Compensation Branch, EEE, Office of Chief Counsel, IRSJoseph Kosmalski, Vice President & Tax Counsel, Ameriprise Financial, Inc.Michael Monahan, Principal in Charge, Northeast Human Capital Services Practice, Grant Thornton LLPAmber Salotto, Tax Senior Manager, Deloitte Tax LLP

11:30 a.m.–12:30 p.m. Session 3A: Life ReservesThe panel will discuss issues encountered in implementing TCJA changes to section 807, including changes to the procedures for effecting changes in basis for computing reserves under section 807(f) and Rev. Proc. 2019-10.

PROGRAM AGENDA

Mark Smith, Managing Director, PwC (moderator)Richard Bush, Senior Vice President, Ameriprise Financial, Inc.Hal Kolpak, Manager, EYDaniel Phillips, Senior Counsel, Insurance Branch, FI&P, Office of Chief Counsel, IRSPeter Winslow, Partner, Scribner Hall & Thompson, LLP

Session 3B: Presumed GILTI?The panel will discuss the Global Intangible Low-Taxed Income (“GILTI”) rules of section 951A and the most-recently issued GILTI guidance. The panel will focus on issues and planning strategies relevant to the insurance industry.

Amanda Varma, Partner, Steptoe & Johnson LLP (moderator)Jacob Alter, Assistant Tax Counsel, Metropolitan Life Insurance CompanyJoy Tegtmeyer, Tax Partner, PwCGovernment Representative to be determined

Session 3C: What’s an Annuity?Unlike life insurance contracts, the Internal Revenue Code does not contain a comprehensive definition of “annuity contract.” Rather, the definitional requirements for annuity contracts are derived from a number of statutory, regulatory, and common law principles, many of which focus more on what is not an annuity rather than what is an annuity. The panel will explore these authorities and discuss what it takes to be an annuity contract for federal income tax purposes.

Bryan Keene, Partner, Davis & Harman LLP (moderator)Tom Christenson, Assistant General Counsel, The Northwestern Mutual Life Insurance CompanyEric Lanning, Vice President, Senior Counsel, Lincoln National CorporationChris Phanco, Assistant Vice President & Tax Counsel, Pacific Life Insurance Company

12:30–2:00 p.m. Session 4: LUNCHEON AND ADDRESSSpeaker: Charles P. Rettig, IRS CommissionerSponsored by: Crowe LLP & Grant Thorton

2:00–3:00 p.m. Session 5A: Property & Casualty Tax IssuesThis panel will discuss the changes to the taxation of property/casualty companies, including changes in tax reserves, under the Tax Cuts and Jobs Act. It will also discuss 2019 priorities for the property/casualty industry.

Scott Rynda, Senior Vice President, Corporate Tax, Travelers (moderator)John Glover, Senior Counsel, Insurance Branch, FI&P, Office of Chief Counsel, IRSDaniel J. Kusaila, Partner, Insurance Tax Practice, Crowe LLPGreg Oyler, Partner, Scribner Hall & Thompson, LLPDavid Pearce, Vice President & Director of Tax Policy, American Property Casualty Insurance AssociationKathryn Sneade, Senior Technician Reviewer, Insurance Branch, FI&P, Office of Chief Counsel, IRS

Session 5B: Post-Tax Reform International Potpourri This panel will focus on a potpourri of international tax issues which affect insurance companies after tax reform, such as foreign tax credits and expense allocation to various baskets, previously taxed E&P, section 245A, changes to section 367 affecting incorporation of an insurance branch and termination of a section 953(d) election, repeal of section 958(b)(4), PFIC insurance exception and recent OECD focus on taxing a digitalized economy.

Surjya Mitra, Managing Director, PwC (moderator) Norman Hannawa, Principal, International Tax, EY Joy Tegtmeyer, Tax Partner, PwC Angela Walitt, Attorney-Advisor, Office of Tax Policy, U.S. Department of the Treasury

Session 5C: IRS LB&I Division’s Goals for InsurersThis fiscal year, LB&I set out five ambitious strategic goals: (1) to implement tax reform and other priorities, (2) improve compliance activities, (3) improve its workforce, (4) improve its operations, and (5) improve internal and external communications. This panel will discuss how LB&I plans to meet these goals with respect to insurers.

Tom Greenaway, Principal, KPMG LLP (moderator)George Hani, Member, Miller & Chevalier Chartered

John C. Hughes, Director, APMA, LB&I, Office of Chief Counsel, IRS Christina Hwang, Senior Vice President & Chief Tax Officer, Allstate Insurance Company

3:10–4:10 p.m. Session 6A: Changing Dynamics in Reinsurance and M&A Transactions after the TCJAThis panel will provide background regarding the rules governing the federal tax treatment of reinsurance and insurance M&A transactions and will focus on the effects of the TCJA on those outcomes, including the impact of BEAT and GILTI on cross-border arrangements, the implication of the changes to the DAC rules, and issues associated with certain transition liabilities arising from the changes made by the TCJA. In addition, the panel will discuss capital and surplus issues that typically inform the business decisions surrounding reinsurance and insurance M&A transactions.

M. Kristan Rizzolo, Partner, Eversheds Sutherland (US) LLP (moderator)Stephen Baker, Vice President, Tax, Symetra Life Insurance CompanyWilliam Pauls, Managing Director, Deloitte Tax LLPBrenda Viehe-Naess, Attorney, Washington AdvocatesGary Vogel, Executive Director, EY

Session 6B: Product Tax UpdateThis panel will update attendees on federal income tax issues impacting insurance products. Topics to include an update on split dollar life insurance arrangements, the mandatory use of the 2017 CSO in 2020, the treatment of investment advisory fees under qualified and nonqualified contracts, new RMD rule guidance diversification guidance for Uniform Mortgage Backed Securities, life settlement reporting as it relates to corporate acquisitions, changes to the IRS Priority Guidance Plan, and other current legislative and regulatory developments.

Robert A. Fishbein, Vice President & Corporate Counsel, Prudential Financial, Inc. (moderator) Shannon Gamache, Assistant Vice President & Counsel, Massachusetts Mutual Life Insurance CompanySarah Lashley, Senior Tax Counsel, Transamerica Life Insurance CompanyAlexis A. MacIvor, Branch Chief, Insurance Branch, FI&P, Office of Chief Counsel, IRSKathryn Sneade, Senior Technician Reviewer, Insurance Branch, FI&P, Office of Chief Counsel, IRS

Session 6C: Hot Topics in Health Insurance This panel will include an update on health insurance company tax and product issues arising from the ACA and tax reform. It will also include an overview of the recent developments affecting health insurance companies that have happened with respect to legislation, litigation, and audits.

Lori Robbins, Managing Director, KPMG LLP (moderator)Rebecca L. Baxter, Senior Technician Reviewer, Insurance Branch, FI&P, Office of Chief Counsel, IRSJames Kress, Tax Director, PwCKevin Owens, Executive Director, Blue Cross Blue Shield Association

4:20–5:20 p.m. Session 7A: Capital Planning: One Concept to Rule Them AllThis panel will discuss the tax implications arising from operations and transactions from legal, actuarial and book accounting perspectives. The discussion will focus on the importance of evaluating decisions from multiple perspectives, and highlight that the enterprise impact of any decision can generate both great and problematic news at the same time.

Stephen Baker, Vice President, Tax, Symetra Life Insurance Company (moderator)Kyle Karrenbauer, Tax Senior Manager, Deloitte Tax LLPKristin Norberg, Assistant Vice President, Tax Actuary, Symetra Life Insurance CompanyTracy Williams, Partner, Sidley Austin LLP

Session 7B: Information Reporting Developments This panel will explain federal income tax issues, and provide an update on developments, on several topics involving information reporting requirements, such as the escheatment to state unclaimed property funds, life settlements, qualified plan loan offsets, the safe harbor relief for de minimis reporting errors, and annuity payments to non-US persons.

Mark Griffin, Partner, Davis & Harman LLP (moderator)Laurie Hatten-Boyd, Principal, KPMG LLPMandana Parsazad, Vice President, Tax, American Council of Life InsurersGovernment Representative to be determined

Session 7C: The Evolving Tax FunctionAs disruptive trends continue to affect insurance company tax departments, such as global regulatory changes, internal value add pressures, finance digitization, data mining, resource limitations, automation and tax technologies, what does that mean for the future of tax department operating and technology models? This panel will help you make sense of it all as tax departments look to thrive in the digital age.

Jeff Webb, Senior Manager, Deloitte Tax LLP (moderator)Bridget Linde, Vice President, Global Tax, RGA Reinsurance CompanyJeff Thompson, Vice President, Tax, Assurant, Inc.Jay Turchin, Director, Grant Thornton LLP

5:30–7:00 p.m. Reception—All Registrants Welcome

FRIDAY, MAY 31

7:45–8:25 a.m. Registration and Continental Breakfast

8:25–8:30 a.m. Introduction/Reminders

8:30–9:10 a.m. Plenary Session: UPDATE FROM THE INSURANCE BRANCH This session includes representatives from the Insurance Branch who will discuss advice, letter rulings, and guidance issued by the Branch within the last year and current projects being considered by the Branch.

Alexis A. MacIvor, Branch Chief, Insurance Branch, FI&P, Office of Chief Counsel, IRS Rebecca L. Baxter, Senior Technician Reviewer, Insurance Branch, FI&P, Office of Chief Counsel, IRS John Glover, Senior Counsel, Insurance Branch, FI&P, Office of Chief Counsel, IRS Megan McGuire, Attorney, Insurance Branch, FI&P, Office of Chief Counsel, IRS Daniel Phillips, Senior Counsel, Insurance Branch, FI&P, Office of Chief Counsel, IRS Kathryn Sneade, Senior Technician Reviewer, Insurance Branch, FI&P, Office of Chief Counsel, IRS

9:20–10:20 a.m. Session 8A: Will the TCJA “Reform” Consolidated Returns? This panel will discuss proposed and possible changes to consolidated return regulations in light of amendments by the Tax Cuts and Jobs Act of 2017. Specific provisions discussed will include: (i) section 163(j) and its application in a life/nonlife consolidated return, and (ii) section 172 and NOLs, the new 80% taxable income limitation, and the exception for property/casualty insurance companies. Any other relevant developments in the consolidated return regulations potentially affecting insurance companies will be discussed, including the possibility of general changes to life/nonlife regulations.

Lori Jones, Partner, Scribner Hall & Thompson, LLP (moderator)Dan Eppley, Vice President, Tax, Nationwide Mutual Insurance CompanyEli Katz, Managing Director, Deloitte Tax LLPJustin Kellar, Assistant to Branch Chief, Branch 3, Corporate, Office of Chief Counsel, IRSChristopher Schoen, Counsel, Eversheds Sutherland (US) LLP

Session 8B: InvestmentsThis panel will provide a discussion of the latest developments on investment tax issues that affect insurance companies, with an emphasis on provisions in the Tax Reform and Jobs Act.

Samuel Mitchell, Partner, Scribner Hall & Thompson, LLP (moderator)Alan Fu, Vice President & Corporate Counsel, Prudential Financial, Inc.Jeff Maddrey, Principal, PwCJonathan Zelnik, Principal, KPMG LLP

Session 8C: A View from the Top: A Conversation with Tax DirectorsA discussion with top Tax Directors on challenges and opportunities currently facing the industry.

Sarah Sheldon, Assistant Vice President & Assistant Tax Counsel, Metropolitan Life Insurance Company (moderator)Melissa Hall, Senior Vice President, Global Head of Tax, Assurant, Inc.Dina Shapiro, Chief Tax Officer, Marsh & McLennan Companies, Inc.Joe Vaccaro, Senior Vice President & Tax Director, Metropolitan Life Insurance Company

10:40–11:40 a.m. Session 9A: Ethics & Social MediaThe intersection of privacy law and tax law presents many open issues in the social media space. Panelists will discuss potentially relevant rules and issues, and provide tips on best practices.

Stacey Brandenburg, Shareholder, ZwillGen PLLCJonathan Errico, Manager, Deloitte Tax LLP

Session 9B: State and Local Tax: National TrendsThis panel will discuss national trends impacting state and local tax. The topics will include: tax reform, the Wayfair decision, legislative trends, and audit trends.

Christine Gustafson, Consultant, TriTech Software (moderator)Sahang Hee Hahn, Assistant Vice President & Counsel, Massachusetts Mutual Life Insurance CompanyFran O’Loughlin, Senior Manager, Multistate Tax, Deloitte Tax LLP

11:50 a.m.–12:30 p.m. TAKEAWAY PANEL: Ask the ExpertsThis session will provide a forum for lingering questions, comments, and discussion of “top of mind” issues with some of the top minds in the industry!

Susan E. Seabrook, Partner, Eversheds Sutherland (US) LLP (moderator)

CLE CreditAttorneys admitted to state bars having mandatory CLE requirements will receive credit for attending this conference. Attorneys should complete and submit the course attendance verification form in their registration packets before leaving the conference in order to receive credit. For 60-minute credit hour states, there are up to 8.00 hours of CLE credit available, including 1 hours of ethics credit. For states with 50-minute credit hours, there are up to 9.60 hours of CLE credit available, including 1.2 hours of ethics.

CPE SponsorThe Federal Bar Association is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of indi-vidual courses for CPE credit. Complaints regarding registered sponsors maybe submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org. For more information regarding admin-istrative policies such as refunds, cancellations and complaints, please contact the Federal Bar Association at 571-481-9100. Prerequisite: None; Program Level: Basic; Advanced Prep: None; Field of Study: Taxes; Delivery Method: Group-Live; Credit Hours: 9.6

HOUSING

A discounted block of rooms has been reserved for conference attendees at the JW Marriott (1331 Pennsylvania Ave; Washington, DC 20004) at 324/night (plus taxes). Check-in time is 3:00 p.m. and check-out is 12:00 p.m. Reservations must be made by 5:00 p.m. ET on May 8, 2019. Any reservations received after the above date or until the block is full, whichever is sooner, will be accepted based on a room-type and rate-available basis. To reserve over the phone, call 1-800-393-2503 today and reference the group name “Federal Bar Association Insurance Tax Seminar.” You may also reserve your room online (link available at www.fedbar.org/instax19). Please have your arrival/departure dates and credit card information ready to expedite your reservation process.

Registration is open! Visit www.fedbar.org/InsTax19 to register today!

1220 North Fillmore St., Ste. 444 Arlington, VA 22201

INSURANCE TAX SEMINARA DIALOGUE WITH GOVERNMENT PERSONNEL ON INSURANCE COMPANY AND PRODUCT TAX ISSUES

31st Annual

May 30-31, 2019JW Marriott • Washington, D.C.

Register by April 26 and save $50!