Skip to main content
S 1687 114th Congress Senate

Offshore Reinsurance Tax Fairness Act

Official title: A bill to amend the Internal Revenue Code of 1986 to restrict the insurance business exception to passive foreign investment company rules.

Introduced: June 25, 2015 Introduced by: Wyden, Ron Democratic · Oregon See on congress.gov
Taxation Insurance industry and regulationTaxation of foreign incomeU.S. and foreign investments
Sign in to write a letter Sign in to watch
This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 25, 2015
Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4650; text of measure as introduced: CR S4650-4652)
Jun 25, 2015
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Latest action June 25, 2015

Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S4650; text of measure as introduced: CR S4650-4652)

 Plain-English summary Congressional Research Service

Offshore Reinsurance Tax Fairness Act

Amends the Internal Revenue Code to define "qualifying insurance corporation," for purposes of the insurance business exception to passive foreign investment company rules, as a foreign corporation: (1) that would be subject to U.S. taxation if it were a domestic corporation, and (2) the applicable insurance liabilities of which constitute more than 25% of its total assets. Allows an alternative facts and circumstances test for insurance corporations whose applicable insurance liabilities are not at least 25% of total assets if such percentage is at least 10% and the corporation is predominantly engaged in an insurance business.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1687: Offshore Reinsurance Tax Fairness Act. 114th Congress. Open America. https://openamerica.io/bill/114-S-1687/
MLA
"S. 1687: Offshore Reinsurance Tax Fairness Act." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-1687/.
Bluebook (legal)
S. 1687, 114th Cong. (2026), https://openamerica.io/bill/114-S-1687/.
Markdown link
[S. 1687: Offshore Reinsurance Tax Fairness Act](https://openamerica.io/bill/114-S-1687/)
Report a problem