Source: https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section6048&num=0&edition=prelim
Timestamp: 2020-07-05 02:19:19
Document Index: 605532634

Matched Legal Cases: ['§ 6048', '§7', '§1013', '§1906', '§341', '§1901', '§1027', '§1601', '§534', '§1601', '§1013', '§534', '§1901']

[USC02] 26 USC 6048: Information with respect to certain foreign trusts
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26 USC 6048: Information with respect to certain foreign trusts Text contains those laws in effect on July 3, 2020
The notice required by paragraph (1) shall contain such information as the Secretary may prescribe, including-
The term "reportable event" means-
(iii) the death of a citizen or resident of the United States if-
Subparagraph (A) shall not apply with respect to a trust which is-
For purposes of this subsection, the term "responsible party" means-
If, at any time during any taxable year of a United States person, such person is treated as the owner of any portion of a foreign trust under the rules of subpart E of part I of subchapter J of chapter 1, such person shall submit such information as the Secretary may prescribe with respect to such trust for such year and shall be responsible to ensure that-
The rules of this paragraph shall apply to any foreign trust to which paragraph (1) applies unless such trust agrees (in such manner, subject to such conditions, and at such time as the Secretary shall prescribe) to authorize a United States person to act as such trust's limited agent solely for purposes of applying sections 7602, 7603, and 7604 with respect to-
If any United States person receives (directly or indirectly) during any taxable year of such person any distribution from a foreign trust, such person shall make a return with respect to such trust for such year which includes-
(Added Pub. L. 87–834, §7(f), Oct. 16, 1962, 76 Stat. 987 ; amended Pub. L. 94–455, title X, §1013(d)(1), (e)(3), (4), title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1616 , 1834; Pub. L. 97–248, title III, §341(b), Sept. 3, 1982, 96 Stat. 635 ; Pub. L. 104–188, title I, §1901(a), Aug. 20, 1996, 110 Stat. 1904 ; Pub. L. 105–34, title X, §1027(b), title XVI, §1601(i)(1), Aug. 5, 1997, 111 Stat. 926 , 1092; Pub. L. 111–147, title V, §534(a), Mar. 18, 2010, 124 Stat. 114 .)
2010-Subsec. (b)(1). Pub. L. 111–147 inserted "shall submit such information as the Secretary may prescribe with respect to such trust for such year and" before "shall be responsible to ensure" in introductory provisions.
1997-Subsec. (b). Pub. L. 105–34, §1601(i)(1), substituted "owner" for "grantor" in heading.
1996-Pub. L. 104–188 amended section generally, substituting provisions calling for improved information reporting on foreign trusts for provisions calling for the filing of returns as to foreign trusts, prescribing the form and contents of such returns, and requiring annual returns for foreign trusts with one or more United States beneficiaries.
1982-Subsec. (a). Pub. L. 97–248 inserted "(or on or before such later day as the Secretary may by regulations prescribe)" after "the 90th day".
1976-Pub. L. 94–455, §1013(e)(4), struck out "creation of or transfer to" after "Returns as to" in section catchline.
Pub. L. 111–147, title V, §534(b), Mar. 18, 2010, 124 Stat. 115 , provided that: "The amendment made by this section [amending this section] shall apply to taxable years beginning after the date of the enactment of this Act [Mar. 18, 2010]."
Pub. L. 104–188, title I, §1901(d), Aug. 20, 1996, 110 Stat. 1908 , provided that:
"(1) Reportable events.-To the extent related to subsection (a) of section 6048 of the Internal Revenue Code of 1986, as amended by this section, the amendments made by this section [amending this section and sections 6677 and 6724 of this title] shall apply to reportable events (as defined in such section 6048) occurring after the date of the enactment of this Act [Aug. 20, 1996].
"(2) Grantor trust reporting.-To the extent related to subsection (b) of such section 6048, the amendments made by this section shall apply to taxable years of United States persons beginning after December 31, 1995.
"(3) Reporting by united states beneficiaries.-To the extent related to subsection (c) of such section 6048, the amendments made by this section shall apply to distributions received after the date of the enactment of this Act."