such payment, (B) the name, address, and TIN of each recipient of such payment, (C) the date of each such payment, and (D) the gross amount of each such payment. (E) such person's estimate of the investment in the contract (as defined in section 72(e)(6)) with respect to the buyer. (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, with respect to any reportable policy sale, the amount of cash and the fair market value of any consideration transferred in the sale. (2) Reportable policy sale The term reportable policy sale has the meaning given such term in section 101(a)(3)(B). (3) Issuer The term issuer means any life insurance company that bears the risk with respect to a life insurance contract on the date any return or statement is required to be made under this section. (4) Reportable death benefits The term reportable death benefits means amounts paid by reason of the death of the insured under a life insurance contract that has been transferred in a reportable policy sale. . (b) Clerical amendment The table of sections for subpart B of part III of subchapter A of chapter 61, as amended by section 13305, is amended by inserting after the item relating to section 6050X the following new item: Sec. 6050Y. Returns relating to certain life insurance contract transactions. . (c) Conforming amendments (1) Subsection (d) of section 6724 is amended— (A) by striking or at the end of clause (xxiv) of paragraph (1)(B), by striking and at the end of clause (xxv) of such