Changes to 2016 Schedule D - Part 1: Column 4 - Bond Characteristics

Submitted by Cynthia Braman on Wed, 04/19/2017 - 11:49am

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By Russell Simson, Booke Life Instructor

Binders of regulations.Insurers’ investment accounting functions should be aware of the changes to the 2016 Schedule D – Part 1:  Column 4 - Bond Characteristics.

The Blanks Working Group approved sweeping changes to the codes that insurers are required to report in Column 4 – Bond Characteristics for year-end 2016.

The changes completely eliminated the prior codes and substituted nine (9) new ones.  Several of the new codes are similar to the former codes.  Insurance company investment accountants should review the new Column 4 bond characteristics code requirements as soon as practical to ensure timely reporting of bond investments where the bond can be called at the discretion of the issuer (codes vary by terms), are mandatorily convertible or variable coupon bonds.

This investment schedule change is one of the many investment schedule blank and instructions revisions that are covered in our Blanks and Instruction Changes Webinar and Accounting and Reporting Update seminars.

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