Source: https://irc.bloombergtax.com/public/uscode/doc/irc/section_6039c
Timestamp: 2020-05-31 22:19:57
Document Index: 543082730

Matched Legal Cases: ['§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039', '§ 6039']

Internal Revenue Code, § 6039C. Returns With Respect To Foreign Persons Holding Direct Investments In United States Real Property Interests
§ 6039c
I.R.C. § 6039C(a) General Rule —
To the extent provided in regulations, any foreign person holding direct investments in United States real property interests for the calendar year shall make a return setting forth—
I.R.C. § 6039C(a)(1) —
I.R.C. § 6039C(a)(2) —
I.R.C. § 6039C(a)(3) —
I.R.C. § 6039C(b) Definition Of Foreign Persons Holding Direct Investments In United States Real Property Interests —
For purposes of this section, a foreign person shall be treated as holding direct investments in United States real property interests during any calendar year if—
I.R.C. § 6039C(b)(1) —
I.R.C. § 6039C(b)(2) —
I.R.C. § 6039C(c) Definitions And Special Rules —
I.R.C. § 6039C(c)(1) United States Real Property Interest —
The term “United States real property interest” has the meaning given to such term by section 897(c).
I.R.C. § 6039C(c)(2) Foreign Person —
The term “foreign person” means any person who is not a United States person.
I.R.C. § 6039C(c)(3) Attribution Of Ownership —
For purposes of subsection (b)(2)–-
I.R.C. § 6039C(c)(3)(A) Interests Held By Partnerships, Etc. —
I.R.C. § 6039C(c)(3)(B) Interests Held By Family Members —
I.R.C. § 6039C(c)(4) Time And Manner Of Filing Return —
I.R.C. § 6039C(d) Special Rule For United States Interest And Virgin Islands Interest —
A nonresident alien individual or foreign corporation subject to tax under section 897(a)(and any person required to withhold tax under section 1445) shall pay any tax and file any return required by this title—-
I.R.C. § 6039C(d)(1) —
to the United States, in the case of any interest in real property located in the United States and an interest (other than an interest solely as a creditor) in a domestic corporation (with respect to the United States) described in section 897(c)(1)(A)(ii), and
I.R.C. § 6039C(d)(2) —
to the Virgin Islands, in the case of any interest in real property located in the Virgin Islands and an interest (other than an interest solely as a creditor) in a domestic corporation (with respect to the Virgin Islands) described in section 897(c)(1)(A)(ii).
(Added Pub. L. 96-499, title XI, 1123(a), Dec. 5, 1980, 94 Stat. 2687, and amended Pub. L. 97-34, title VIII, 831(a)(3), (e), Aug. 13, 1981, 95 Stat. 352, 354; Pub. L. 98-369, div. A, title I, 129(b)(1), July 18, 1984, 98 Stat. 659; Pub. L. 99-514, title XVIII, 1810(f)(7), Oct. 22, 1986, 100 Stat. 2828.)
1986--Subsec. (d). Pub. L. 99-514 inserted “(and any person required to withhold tax under section 1445)” after “section 897(a)”.
1984--Pub. L. 98-369 amended section generally, inserting in section catchline “foreign persons holding direct investments in” and substituting in text provisions concerning returns with respect to foreign persons holding direct investments in United States real property for provisions concerning returns with respect to United States real property interests.
1981--Subsec. (b)(4)(C). Pub. L. 97-34, 831(e), substituted “For purposes of determining whether an entity to which this subsection applies has a substantial investor in United States real property, the assets of any person shall include the person's pro rata share of the United States real property interest held by any corporation (whether domestic or foreign) if the person's pro rata share of the United States real property interests exceeded $50,000” for “The assets of any entity to which this subsection applies shall include its pro rata share of the United States real property interests held by any corporation in which the entity is a substantial investor in United States real property”.
Subsec. (f). Pub. L. 97-34, 831(a)(3), added subsec. (f).
Section 129(c)(2) of Pub. L. 98-369 provided that: “The amendments made by subsection (b) [amending this section] shall apply to calendar year 1980 and subsequent calendar years.”
Amendment by Pub. L. 97-34 applicable to dispositions after June 18, 1980, in taxable years ending after such date, see section 831(i) of Pub. L. 97-34, set out as a note under section 897 of this title.
Section applicable to 1980 and subsequent calendar years, with 1980 being treated as beginning on June 19, 1980, and ending on Dec. 31, 1980, see section 1125(b) of Pub. L. 96-499, set out as a note under section 897 of this title.