Treasury Regulations · 26 CFR
§ 1.501(c)(15)-1. Mutual insurance companies or associations.
Regulation text, no changes From the eCFR, current as of October 15, 2026. The eCFR is an authoritative but unofficial editorial compilation of the Code of Federal Regulations; the official text is the annual CFR on govinfo. Compare it with this section on ecfr.gov (external site) or the official annual CFR on govinfo (external site).
Regulation under 26 U.S.C. § 501(c)(15)
Cite as 26 CFR § 1.501(c)(15)-1
At a glance
Read from the text and its source citation. Not part of the regulation.
- Status
- In the current eCFR
- Issued
- July 29, 1963 by T.D. 6662
- Issued under
- 26 U.S.C. § 501(c)(15)
- Length
- 597 words · about 3 min to read
- Cross-references
- cites 2 Code sections and 4 regulations; cited by 0
¶(a) Taxable years beginning after December 31, 1962. An insurance company or association described in section 501(c)(15) is exempt under section 501(a) if it is a mutual company or association (other than life or marine) or if it is a mutual interinsurer or reciprocal underwriter (other than life or marine) and if the gross amount received during the taxable year from the sum of the following items does not exceed $150,000:
¶(1) The gross amount of income during the taxable year from:
¶(iv) The entering into of any lease, mortgage, or other instrument or agreement from which the company may derive interest, rents, or royalties.
¶(v) The alteration or termination of any instrument or agreement described in subdivision (iv) of this subparagraph.
¶(2) The gross income from any trade or business (other than an insurance business) carried on by the company or association, or by a partnership of which the company or association is a partner.
¶(3) Premiums (including deposits and assessments).
¶(b) Taxable years beginning after December 31, 1954, and before January 1, 1963. An insurance company or association described in section 501(c)(15) and paragraph (a) of this section is exempt under section 501(a) if the gross amount received during the taxable year from the sum of the items described in paragraph (a) (1), (2), and (3) of this section does not exceed $75,000.
¶(c) No double inclusion of income. In computing the gross income from any trade or business (other than an insurance business) carried on by the company or association, or by a partnership of which the company or association is a partner, any item described in section 822(b)(1) (A), (B), or (C) and paragraph (a)(1) of this section shall not be considered as gross income arising from the conduct of such trade or business, but shall be taken into account under section 822(b)(1) (A), (B), or (C) and paragraph (a)(1) of this section.
¶(d) Taxable years beginning after December 31, 1953, and before January 1, 1955. An insurance company or association described in section 501(c)(15) is exempt under section 501(a) if it is a mutual company or association (other than life or marine) or if it is a mutual interinsurer or reciprocal underwriter (other than life or marine) and if the gross amount received during the taxable year from the sum of the following items does not exceed $75,000:
¶(1) The gross amount of income during the taxable year from—
¶(2) Premiums (including deposits and assessments).
[T.D. 6662, 28 FR 6972, July 29, 1963]
Cross-references
Computed from the citations in the text of 26 CFR.
Code sections it cites
Regulations it cites
Amendment history
From the source citation at the end of the section, newest first. T.D. is a Treasury decision; FR is the Federal Register.
- Issued by T.D. 6662 (28 FR 6972)
Where it sits in 26 CFR
- Subchapter A Income tax
- Part 1 Income taxes
- Exempt Organizations
Nearby sections
- § 1.501(c)(10)-1 Certain fraternal beneficiary societies.
- § 1.501(c)(12)-1 Local benevolent life insurance associations, mutual irrigation and telephone companies, and like organizations.
- § 1.501(c)(13)-1 Cemetery companies and crematoria.
- § 1.501(c)(14)-1 Credit unions and mutual insurance funds.
- § 1.501(c)(15)-1 Mutual insurance companies or associations.
- § 1.501(c)(16)-1 Corporations organized to finance crop operations.
- § 1.501(c)(17)-1 Supplemental unemployment benefit trusts.
- § 1.501(c)(17)-2 General rules.
- § 1.501(c)(17)-3 Relation to other sections of the Code.