retroactive restoration

  • Reinstatement of a policy or bond to its original face value after payment of a loss, to take care of prior losses that may be discovered later.

    Internal Revenue Service 1

1Internal Revenue Service, Internal Revenue Manual 4.42.6 Glossary, http://­www.irs.gov/­irm/­part4/­irm_04-042-006.html (last accessed Dec. 22, 2009).