life insurance contract shall make a return (at such time and in such manner as the Secretary shall prescribe) setting forth— (A) the name, address, and TIN of the seller who transfers any interest in such contract in such sale, (B) the investment in the contract (as defined in section 72(e)(6)) with respect to such seller, and (C) the policy number of such contract. (2) Statement to be furnished to persons with respect to whom information is required Every person required to make a return under this subsection shall furnish to each person whose name is required to be set forth in such return a written statement showing— (A) the name, address, and phone number of the information contact of the person required to make such return, and (B) the information required to be shown on such return with respect to each seller whose name is required to be set forth in such return. (c) Requirement of reporting with respect to reportable death benefits (1) In general Every person who makes a payment of reportable death benefits during any taxable year shall make a return for such taxable year (at such time and in such manner as the Secretary shall prescribe) setting forth— (A) the name, address, and TIN of the person making such payment, (B) the name, address, and TIN of each recipient of such payment, (C) the date of each such payment, and (D) the amount of each such payment. (2) Statement to be furnished to persons with respect to whom information is required Every person required to make a return under this subsection shall furnish to each person whose name is required to be set forth in such return a written statement showing— (A) the name, address, and phone number of the information contact of the person required to make such return, and (B) the information required to be shown on such return with respect to each recipient of payment whose name is required to be set forth in such return. (d) Definitions For purposes of this section: (1) Payment The term payment means the amount of cash and the fair market value of any