Source: http://www.law.cornell.edu/uscode/text/26/6050I?quicktabs_8=2
Timestamp: 2013-05-24 19:59:09
Document Index: 498572719

Matched Legal Cases: ['§ 6050', '§ 6050', '§ 6050', '§ 146', '§ 1501', '§ 7601', '§ 11318', '§ 20415', '§ 1201', '§ 20415', '§ 20415', '§ 11318', '§ 11318']

26 USC § 6050I - Returns relating to cash received in trade or business, etc. | Title 26 - Internal Revenue Code | U.S. Code | LII / Legal Information Institute
USC › Title 26 › Subtitle F › Chapter 61 › Subchapter A › Part III › Subpart B › § 6050I	prevnext
26 USC § 6050I - Returns relating to cash received in trade or business, etc.
Cash receipts of more than $10,000 Any person—
Cash received by financial institutions Subsection (a) shall not apply to—
cash received by any financial institution (as defined in subparagraphs (A), (B), (C), (D), (E), (F), (G), (J), (K), (R), and (S) of section 5312
(a)(2) of title 31, United States Code).
Transactions occurring outside the United States Except to the extent provided in regulations prescribed by the Secretary, subsection (a) shall not apply to any transaction if the entire transaction occurs outside the United States.
Cash includes foreign currency and certain monetary instruments For purposes of this section, the term “cash” includes—
Structuring transactions to evade reporting requirements prohibited (1)
In general No person shall for the purpose of evading the return requirements of this section—
Penalties A person violating paragraph (1) of this subsection shall be subject to the same civil and criminal sanctions applicable to a person which fails to file or completes a false or incorrect return under this section.
Cash received by criminal court clerks (1)
In general Every clerk of a Federal or State criminal court who receives more than $10,000 in cash as bail for any individual charged with a specified criminal offense shall make a return described in paragraph (2) (at such time as the Secretary may by regulations prescribe) with respect to the receipt of such bail.
Return A return is described in this paragraph if such return—
Specified criminal offense For purposes of this subsection, the term “specified criminal offense” means—
Information to Federal prosecutors Each clerk required to include on a return under paragraph (1) the information described in paragraph (2)(B) with respect to an individual described in paragraph (2)(B)(i)(I) shall furnish (at such time as the Secretary may by regulations prescribe) a written statement showing such information to the United States Attorney for the jurisdiction in which such individual resides and the jurisdiction in which the specified criminal offense occurred.
Information to payors of bail Each clerk required to make a return under paragraph (1) shall furnish (at such time as the Secretary may by regulations prescribe) to each person whose name is required to be set forth in such return by reason of paragraph (2)(B)(i)(II) a written statement showing—
the name and address of the clerk’s office required to make the return, and
(Added Pub. L. 98–369, div. A, title I, § 146(a),July 18, 1984, 98 Stat. 685; amended Pub. L. 99–514, title XV, § 1501(c)(12),Oct. 22, 1986, 100 Stat. 2739; Pub. L. 100–690, title VII, § 7601(a)(1),Nov. 18, 1988, 102 Stat. 4503; Pub. L. 101–508, title XI, § 11318(a), (c),Nov. 5, 1990, 104 Stat. 1388–458, 1388–459; Pub. L. 103–322, title II, § 20415(a), (b)(3),Sept. 13, 1994, 108 Stat. 1832, 1833; Pub. L. 104–168, title XII, § 1201(a)(9),July 30, 1996, 110 Stat. 1469.)
1996—Subsec. (e)(1). Pub. L. 104–168substituted “name, address, and phone number of the information contact” for “name and address”.
1994—Pub. L. 103–322, § 20415(b)(3), substituted “business, etc.” for “business” in section catchline.
Subsec. (g). Pub. L. 103–322, § 20415(a), added subsec. (g).
1990—Subsec. (d). Pub. L. 101–508, § 11318(a), substituted heading for one which read: “Cash includes foreign currency” and amended text generally. Prior to amendment, text read as follows: “For purposes of this section, the term ‘cash’ includes foreign currency.”
Subsec. (f). Pub. L. 101–508, § 11318(c), substituted heading for one which read: “Actions by payors”.
1988—Subsec. (f). Pub. L. 100–690added subsec. (f).
1986—Subsec. (e). Pub. L. 99–514substituted “information is required” for “information is furnished” in heading and, in text, substituted references to persons required to make a return for former references to persons making a return and references to persons whose name is required to be set forth for former references to persons whose name is set forth.
Section 20415(d) ofPub. L. 103–322provided that: “The amendments made by this section [amending this section and section 6724 of this title] shall take effect on the 60th day after the date on which the temporary regulations are prescribed under subsection (c) [section 20415(c) ofPub. L. 103–322, set out as a Regulations note below].” [Temporary regulations under section 20415(c) ofPub. L. 103–322were filed Dec. 12, 1994, published Dec. 15, 1994, 59 F.R. 64572, and effective Feb. 13, 1995.]
Section 11318(e) ofPub. L. 101–508provided that:
Section 7601(a)(3) ofPub. L. 100–690provided that: “The amendments made by this subsection [amending this section and sections 6721 and 7203 of this title] shall apply to actions after the date of the enactment of this Act [Nov. 18, 1988].”
Section 146(d) ofPub. L. 98–369provided that: “The amendments made by this section [enacting this section and amending sections 6652 and 6678 of this title] shall apply to amounts received after December 31, 1984.”
Section 20415(c) ofPub. L. 103–322provided that: “The Secretary of the Treasury or the Secretary’s delegate shall prescribe temporary regulations under the amendments made by this section [amending this section and section 6724 of this title] within 90 days after the date of enactment of this Act [Sept. 13, 1994].” [Temporary regulations under section 20415(c) ofPub. L. 103–322were filed Dec. 12, 1994, published Dec. 15, 1994, 59 F.R. 64572, and effective Feb. 13, 1995.]
For requirement of Secretary of the Treasury to report to Congress on number of reports filed under this section yearly, the rate of compliance with reporting requirements, the manner in which Federal agencies collect, organize and analyze such data, and sanctions imposed and indictments filed for failure to comply, see section 101 ofPub. L. 101–647, set out as a note under section 5311 of Title 31, Money and Finance.
Section 7601(a)(4) ofPub. L. 100–690provided that: “No inference shall be drawn from the amendment made by paragraph (1) [amending this section] on the application of the Internal Revenue Code of 1986 without regard to such amendment.”