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20:35 Oct 7, 2000
German to English translations [PRO] Bus/Financial
German term or phrase:außerrechnungsmäßig, rechungsmäßig
The field here is insurance--more particularly private placement variable universal life insurance. The sentence I'm having trouble with reads:
"Die Auszahlung der Versicherung an den Trust führt nach Par. 20 Abs. 1 Nr. 6 EStG i. V. m. Par. 15 AStG zu einem steuerpflichtigen Vorgang hinsichtlich der außerrechnungsmäßigen und rechungsmäßigen Zinsen aus dem Sparanteil."
As you might expect, the report this sentence comes from discusses the German and US tax implications of PPVUL policies and how they and their disbursements could be interpreted and taxed under the laws of each country.
Explanation: Surrendering the value of the insurance policy to the trust leads according to . . . (to proceeds which are taxable)to tax implications in regards to the non-calculable and calculable interest from the cash value/net assets/cash reserves.
Variable is a form of whole life
insurance and because of investment risks it is also considered a securities contract and is regulated as securities under the Federal Securities Laws and must be sold with a prospectus.
Here is such a prospectus, which may help answer some questions and give you
some terminology: http://finance.americanexpress.com/sif/cda/page/0,1641,2700,...
Elisabeth Moser United States Local time: 22:35 Native speaker of: German PRO pts in pair: 772