Internal Revenue Code:Sec. 6032. Returns of banks with respect to common trust funds
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Contents |
Location in Internal Revenue Code
TITLE 26 - INTERNAL REVENUE CODE
Subtitle F - Procedure and Administration
CHAPTER 61 - INFORMATION AND RETURNS
Subchapter A - Returns and Records
PART III - INFORMATION RETURNS
Subpart A - Information Concerning Persons Subject to Special
Provisions
Statute
Sec. 6032. Returns of banks with respect to common trust funds
Every bank (as defined in section 581) maintaining a common trust
fund shall make a return for each taxable year, stating
specifically, with respect to such fund, the items of gross income
and the deductions allowed by subtitle A, and shall include in the
return the names and addresses of the participants who would be
entitled to share in the taxable income if distributed and the
amount of the proportionate share of each participant. The return
shall be executed in the same manner as a return made by a
corporation pursuant to the requirements of sections 6012 and 6062.
Sources
(Aug. 16, 1954, ch. 736, 68A Stat. 741.)
