How to get a tax deduction for insurance correctly

– this is an opportunity to return part of the personal income tax, the personal income tax, which the employer paid for you to the state budget. When making contributions under a voluntary life insurance agreement, you have the right to return the social tax deduction annually. Let's look at the procedure and conditions for receiving this benefit, find out who has the right to apply for it and what nuances need to be taken into account.

Good to know!

The Tax Code provides for 6 types of social tax deductions for individuals:

– for expenses on charity (clause 1 of Article 219 of the Tax Code of the Russian Federation) – for expenses on training (clause 2 of Article 219 of the Tax Code of the Russian Federation) – for treatment and purchase of medicines (clause 3 of Article 219 of the Tax Code of the Russian Federation) – for expenses on non-state pension provision, voluntary pension insurance and voluntary life insurance (clause 4 of article 219 of the Tax Code of the Russian Federation)

– expenses for the funded part of the labor pension (clause 5 of Article 219 of the Tax Code of the Russian Federation) – costs of paying for an independent assessment of one’s qualifications (clause 6 of Article 219 of the Tax Code of the Russian Federation)

The rules for obtaining a social tax deduction (STDC) for life insurance came into force on January 1, 2015.

What if the contract with the insurance company was concluded before January 1, 2015, but continues to be valid in subsequent years? In this case, it is also possible to obtain START, but only for contributions paid after the date the law came into force.

Example 1: Paying for life insurance

Conditions for receiving the deduction: In 2022 Osokina V.A. entered into a life insurance contract and paid insurance premiums in the amount of 40,000 rubles for 2022.

Income and income tax paid: In 2020 Osokina V.A. earned 30,000 rubles a month and paid a total of 46,800 rubles. income tax for the year.

Calculation of the deduction: In this case, the amount of deduction for life insurance is 40,000 rubles (i.e. you can return 40,000 rubles * 13% = 5,200 rubles). Since Osokina V.A. paid income tax in the amount of more than 5,200 rubles, and the amount of the tax deduction is less than the maximum (120,000 rubles), then she will be able to receive a deduction in full and return 5,200 rubles.

Conditions for receiving payment

Any tax resident of the Russian Federation who has income that constitutes the main tax base and is subject to income tax at a rate of 13% can receive a tax deduction, with the exception of certain types of income (for example, income received from transactions with securities, in the form of winnings received by participants in gambling games and lottery participants, etc.).

If the amount of income that makes up the main tax base is insufficient to receive ST, from January 1, 2022, the deduction can be applied to the tax base for income that is not included in the main tax base, but is also subject to taxation at a rate of 13%:

• on income from the sale of property (except for securities) and/or shares in it on income in the form of the value of property received as a gift
• on income in the form of the value of property received as a gift
• on income in the form of insurance payments under insurance contracts and pension payments

You can exercise your right to receive a deduction for voluntary life insurance if you simultaneously meet the following conditions:

• the contract is concluded for at least 5 years
• the insured person or beneficiary is the taxpayer himself or his family members and close relatives (spouses, parents, children)
• insurance premiums were made at your own expense (according to the receipt you must be the payer)
• there are payment documents confirming the relevant expenses

You should carefully consider the terms of the benefit, otherwise you risk getting into a rather unpleasant situation. Consider this example:

My wife is on maternity leave. The husband regularly makes regular payments for her under the life insurance contract. From the outside everything looks good, but at the end of the year neither he nor she will be able to receive a deduction. The wife will not be able to, because income tax is not taken from maternity leave. The husband has no right, since he did not enter into an agreement. It won’t even help that the payment documents are issued in his name and he is officially married.

Example 2: Paying for your own life insurance in the amount of more than 120 thousand rubles

Conditions for receiving the deduction: In 2022, Zverev A.N. entered into a life insurance contract and paid insurance premiums in the amount of 130,000 rubles for 2022.

Income and income tax paid: In 2020 Zverev A.N. earned 50,000 rubles. per month and paid a total of 78,000 rubles. income tax for the year.

Calculation of the deduction: Despite the fact that Zverev A.N. spent 130,000 rubles on life insurance, the maximum deduction amount for the year is 120,000 rubles, so Zverev A.N. can return a maximum of 120,000 rubles. * 13% = 15,600 rubles. Since Zverev A.N. paid more than 15,600 rubles in income tax, then he will be able to return this amount in full.

Information for clients on obtaining a tax deduction

On January 1, 2015, Federal Law No. 382-FZ of November 29, 2014 came into force, including amendments to Article 219 of the Tax Code of the Russian Federation regarding the provision of social tax deductions for voluntary life insurance contracts. Associated with the survival of citizens to a certain age/term, their death, or the occurrence of other events in their lives.

According to paragraphs. 4 clause 1 of Article 219 of the Tax Code of the Russian Federation, a social deduction for voluntary life insurance can be obtained if the contract is drawn up for at least 5 (five) years and is directed:

• to insure your life;
• for life insurance of your spouse/children/parents.

A tax deduction is the return of personal income tax previously paid from a citizen’s income (salary) from a person’s social expenses.

Social expenses include:

• education expenses;
• health care costs;
• charitable expenses;
• expenses for voluntary medical and pension insurance;
• from 01/01/2015 costs for long-term (from 5 years) life insurance.

The maximum amount of social expenses for which a personal income tax deduction is provided is 120,000 rubles. per year, therefore the amount of tax deduction is up to 15,600 rubles. per year (13% of RUB 120,000). To receive a social tax deduction, you must independently fill out a declaration and application to the Federal Tax Service (FTS) at your place of residence. Personal income tax refunds are made at the end of the tax period. It is necessary to provide the following documents to the tax office at your place of residence:

• tax return in form 3-NDFL (issued by the tax office or can be downloaded on the Federal Tax Service website - https://www.nalog.ru);
• documents confirming the payment of the fee;
• certificate from place of work 2-NDFL;
• a copy of the insurance contract;
• a copy of the insurance company's license (download link);
• application for social deduction (issued by the tax office).

Please note that if the taxpayer used a social tax deduction, upon termination of the voluntary life insurance contract, the amount of personal income tax attributable to this deduction and reimbursed to the taxpayer is subject to restoration and payment to the budget. When paying cash (redemption) amounts under the agreement, the company, as a tax agent, will withhold the corresponding amount of personal income tax, which will be calculated from the amount of contributions that the taxpayer paid under the agreement for each calendar year in which he was entitled to receive a social deduction. When terminating a life insurance contract, you must provide a certificate to the Insurance Company in the form KND 1160077. When providing a certificate, you confirm the receipt or non-receipt of a social deduction; the withholding or non-withholding of personal income tax by the insurance company when paying cash (redemption) amounts under the insurance contract depends on this.

Useful documents:

Memo - the procedure for obtaining a certificate Memo on social deductions Help form for KND 1112526

Example 3: Deduction for life insurance along with other social deductions

Conditions for receiving the deduction: In 2022 Vlasov V.S. entered into a life insurance agreement, under which he paid insurance premiums in the amount of 40,000 rubles, and also paid for his university education in the amount of 100,000 rubles.

Income and income tax paid: In 2020 Vlasov V.S. earned 50,000 rubles a month and paid a total of 78,000 rubles. income tax for the year.

Calculation of the deduction: Despite the fact that Vlasov V.S. spent 140,000 rubles. for life insurance and education, the amount of social tax deductions for the year cannot exceed the maximum limit of 120,000 rubles. Therefore, Vlasov V.S. will be able to return a maximum of 120,000 * 13% = 15,600 rubles. Since Vlasov V.S. paid more than 15,600 rubles in income tax, then he will be able to return this amount in full.

What documents need to be prepared to receive a deduction?

To receive a deduction for voluntary contributions to a non-state pension fund, the following is required:

1. Declaration 3-NDFL (you need to draw it up yourself).

2. Certificate 2-NDFL (request from the employer or tax agent).

3. Payment documents confirming payment (issued by the bank from which the payment was made).

4. Agreement (issued by NPF).

5. A copy of the fund’s license (issued by the NPF).

To receive an insurance - the documents specified in paragraphs 1–3, plus:

1. Insurance policy (issued by the insurance company).

2. A copy of the insurance company license (issued by the company).

3. Certificate from work confirming payment of part of the insurance premium: if voluntary health insurance at work is issued, part is paid by the employer, part by you (issued by the HR department).

When submitting copies of documents confirming the right to deduction to the Federal Tax Service, their originals are also needed.

Example 6: Paying for Life Insurance for Spouse and Children

Conditions for receiving the deduction: In 2022, Rogozin V.V. entered into an insurance contract in his favor, in favor of his wife and child. For own insurance Rogozin V.V. paid contributions for 2022 in the amount of 25,000 rubles, for life insurance of the wife - 24,000 rubles, for life insurance of the child - 23,000 rubles.

Income and income tax paid: In 2020 Rogozin V.V. earned 70,000 rubles a month and paid a total of 109,200 rubles. income tax for the year.

Calculation of the deduction: In this case, the total deduction for life insurance of all family members is 72,000 rubles. (i.e. you can return 72,000 rubles * 13% = 9,360 rubles). Since Rogozin V.V. paid income tax in the amount of more than 9,360 rubles, and the amount of the tax deduction is less than the maximum (120,000 rubles), then he will be able to receive the deduction in full and return 9,360 rubles.

Methods of obtaining

There are several ways.

• yourself at the tax authority at your place of registration
  , submit it along with the documents and wait for payment. You can submit the declaration in person, by mail or online - in the taxpayer’s personal account on the official website of the Federal Tax Service www.nalog.ru. It is important to remember that you can receive a deduction only after the end of the tax period in which the insurance was paid. For example, if you have expenses under a life insurance contract in 2021, then documents for a tax deduction can only be submitted in 2022, no later than April 30.
• Through the employer
  If the taxpayer is officially employed, you can apply for a tax deduction at the place of work. In this case, there is no need to wait until the end of the year; payments are made “year after year.” But you will still have to visit the tax authority to receive a notification of the right to receive START. Bring a notice to your employer, and the accounting department will not withhold 13% tax until the full amount of the deduction is received. Some may not like the fact that the deduction will come in parts as part of the salary, and not the entire amount.

In addition, assistance in obtaining a tax deduction can be provided by the “Tax Deduction” service provided to Raiffeisen Life clients.

If you have entered into an accumulative life insurance agreement with Raiffeisen Life, from the 31st day of the program, the “Tax Deduction” online service is available to you. The service is provided by Raiffeisen Life partner – PRAVOCARD (Modern Services LLC).

PRAVOCARD1 provides full support:

• provides advice on the procedure for obtaining START
• checks documents online
• fills out a declaration and sends documents to the Federal Tax Service
• provides full legal support until funds arrive in the account

With this additional service, you don’t have to waste time visiting the tax office and understanding the nuances of filling out the declaration.

Is it possible to get a deduction for insurance when lending?

When applying for a mortgage, one of the conditions of the lending bank is often the conclusion of a mixed insurance agreement, including insurance of life, health, and property interests for the period of repayment of the mortgage. According to paragraph 4 of paragraph 1 of Article 219 of the Tax Code of the Russian Federation, when paying premiums under a life insurance contract (if it is concluded for a period of 5 years or more), you can receive a tax deduction. In this regard, the question arose: is it possible to receive a deduction in such a case? Some taxpayers have even already received a deduction for life insurance costs under such contracts.

However, the Ministry of Finance of the Russian Federation in its letter dated August 17, 2016 N 03-04-05/48235 clarified that when concluding this type of agreement, the deduction cannot be used, since the beneficiary is the bank, and not the persons who paid the insurance premiums.

Example: In 2022 Novikov A.V. To purchase an apartment, a mortgage loan agreement was drawn up, and at the request of the creditor bank, a mixed insurance agreement was concluded, including life insurance, health insurance, property interests and title insurance. Due to the fact that, in accordance with the terms of the insurance contract, the beneficiary of the amount of the insurance payment is the bank, receive a tax deduction for life insurance expenses Novikov A.V. can not.