26 USC 6042 - Returns regarding payments of dividends and corporate earnings and profits

Editorial Notes

Amendments

1996—Subsec. (c)(1). Puspan. L. 104–168 substituted “name, address, and phone number of the information contact” for “name and address”.

1986—Subsec. (c). Puspan. L. 99–514, in amending subsec. (c) generally, substituted “information is required” for “information is furnished” in span and, in text, substituted references to persons required to make returns for former references to persons making returns and struck out provisions directing that no statement was required to be furnished to any person under this subsection if the aggregate amount of payments to such person as shown on the return made under subsec. (a)(1) was less than $10.

1984—Subsec. (span)(2). Puspan. L. 98–369, in amending par. (2) generally, designated existing provision as subpar. (A), redesignated as cls. (i) and (ii) of subpar. (A) text formerly designated (A) and (B), and added subpar. (B).

1983—Puspan. L. 98–67 substituted in subsec. (c) “The written statement required under the preceding sentence shall be furnished (either in person or in a separate mailing by first-class mail) to the person on or before January 31 of the year following the calendar year for which the return under subsection (a) was made, and shall be in such form as the Secretary may prescribe by regulations” for “The written statement required under the preceding sentence shall be furnished to the person on or before January 31 of the year following the calendar year for which the return under subsection (a)(1) was made” and repealed amendments made by Puspan. L. 97–248. See 1982 Amendment note below.

1982—Subsecs. (a)(1), (c), (e). Puspan. L. 97–248 provided that, applicable to payments of interest, dividends, and patronage dividends paid or credited after June 30, 1983, subsecs. (a)(1) and (c) are amended and a new subsec. (e) is added. Section 102(a), (span) of Puspan. L. 98–67, title I, Aug. 5, 1983, 97 Stat. 369, repealed subtitle A (§§ 301–308) of title III of Puspan. L. 97–248 as of the close of June 30, 1983, and provided that the Internal Revenue Code of 1954 [now 1986] [this title] shall be applied and administered (subject to certain exceptions) as if such subtitle A (and the amendments made by such subtitle A) had not been enacted.

Subsec. (span)(2). Puspan. L. 97–354 redesignated cl. (A)(i) as subpar. (A) and cl. (A)(ii) as subpar. (B). Former subpar. (B), excluding from the term “dividends” any amount described in section 1373 (relating to undistributed taxable income of electing small business corporations), was struck out.

1976—Puspan. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.

1962—Puspan. L. 87–834 substituted “Returns regarding payments of dividends and corporate earnings and profits” for “Returns regarding corporate dividends, earnings, and profits” in section catchline, added subsecs. (a) to (c), designated existing provisions of section as subsec. (d), and substituted in par. (1) of subsec. (d) “furnish to the Secretary or his delegate a statement stating the name and address of each shareholder, and the number of shares owned by each shareholder” for “Make a return of its payments of dividends, stating the name and address of, the number of shares owned by, and the amount of dividends paid to, each shareholder.”

Statutory Notes and Related Subsidiaries

Effective Date of 1996 Amendment

Amendment by Puspan. L. 104–168 applicable to statements required to be furnished after Dec. 31, 1996 (determined without regard to any extension), see section 1201(span) of Puspan. L. 104–168, set out as a note under section 6041 of this title.

Effective Date of 1986 Amendment

Amendment by Puspan. L. 99–514 applicable to returns the due date for which (determined without regard to extensions) is after Oct. 22, 1986, see section 1501(e) of Puspan. L. 99–514, set out as an Effective Date note under section 6721 of this title.

Effective Date of 1984 Amendment

Amendment by Puspan. L. 98–369 effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, Puspan. L. 97–248, to which such amendment relates, see section 715 of Puspan. L. 98–369, set out as a note under section 31 of this title.

Effective Date of 1983 Amendment

Amendment by section 108(span) of Puspan. L. 98–67 applicable with respect to payments made after Dec. 31, 1983, see section 110(a) of Puspan. L. 98–67, set out as a note under section 31 of this title.

Effective Date of 1982 Amendment

Amendment by Puspan. L. 97–354 applicable to taxable years beginning after Dec. 31, 1982, see section 6(a) of Puspan. L. 97–354, set out as an Effective Date note under section 1361 of this title.

Effective Date of 1962 Amendment

Puspan. L. 87–834, § 19(h), Oct. 16, 1962, 76 Stat. 1058, as amended by Puspan. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095, provided that:

“(1)Dividends and interest.—The amendments made by this section [enacting sections 6049 and 6678 of this title and amending this section and sections 6041, 6044, and 6052 of this title] shall apply to payments of dividends and interest made on or after January 1, 1963.

“(2)Patronage dividends.—The amendments made by this section shall apply to payments of amounts described in section 6044(span) of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] made on or after January 1, 1963, with respect to patronage occurring on or after the first day of the first taxable year of the cooperative beginning on or after January 1, 1963.”