Internal Revenue Code:Sec. 6047. Information relating to certain trusts and annuity plans
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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 B - Information Concerning Transactions With Other Persons
Statute
Sec. 6047. Information relating to certain trusts and annuity plans
(a) Trustees and insurance companies
The trustee of a trust described in section 401(a) which is
exempt from tax under section 501(a) to which contributions have
been paid under a plan on behalf of any owner-employee (as defined
in section 401(c)(3)), and each insurance company or other person
which is the issuer of a contract purchased by such a trust, or
purchased under a plan described in section 403(a), contributions
for which have been paid on behalf of any owner-employee, shall
file such returns (in such form and at such times), keep such
records, make such identification of contracts and funds (and
accounts within such funds), and supply such information, as the
Secretary shall by forms or regulations prescribe.
(b) Owner-employees
Every individual on whose behalf contributions have been paid as
an owner-employee (as defined in section 401(c)(3)) -
(1) to a trust described in section 401(a) which is exempt from
tax under section 501(a), or
(2) to an insurance company or other person under a plan
described in section 403(a),
shall furnish the trustee, insurance company, or other person, as
the case may be, such information at such times and in such form
and manner as the Secretary shall prescribe by forms or
regulations.
(c) Other programs
To the extent provided by regulations prescribed by the
Secretary, the provisions of this section apply with respect to any
payment described in section 219 and to transactions of any trust
described in section 408(a) or under an individual retirement
annuity described in section 408(b).
(d) Reports by employers, plan administrators, etc.
(1) In general
The Secretary shall by forms or regulations require that -
(A) the employer maintaining, or the plan administrator
(within the meaning of section 414(g)) of, a plan from which
designated distributions (as defined in section 3405(e)(1)) may
be made, and
(B) any person issuing any contract under which designated
distributions (as so defined) may be made,
make returns and reports regarding such plan (or contract) to the
Secretary, to the participants and beneficiaries of such plan (or
contract), and to such other persons as the Secretary may by
regulations prescribe. No return or report may be required under
the preceding sentence with respect to distributions to any
person during any year unless such distributions aggregate $10 or
more.
(2) Form, etc., of reports
Such reports shall be in such form, made at such time, and
contain such information as the Secretary may prescribe by forms
or regulations.
(e) Employee stock ownership plans
The Secretary shall require -
(1) any employer maintaining, or the plan administrator (within
the meaning of section 414(g)) of, an employee stock ownership
plan which holds stock with respect to which section 404(k)
applies to dividends paid on such stock, or
(2) both such employer or plan administrator,
to make returns and reports regarding such plan, transaction, or
loan to the Secretary and to such other persons as the Secretary
may prescribe. Such returns and reports shall be made in such
form, shall be made at such time, and shall contain such
information as the Secretary may prescribe.
(f) Cross references
(1) For provisions relating to penalties for failures to file
returns and reports required under this section, see sections
6652(e), 6721, and 6722.
(2) For criminal penalty for furnishing fraudulent
information, see section 7207.
(3) For provisions relating to penalty for failure to comply
with the provisions of subsection (d), see section 6704.
Sources
(Added Pub. L. 87-792, Sec. 7(m)(1), Oct. 10, 1962, 76 Stat. 830;
amended Pub. L. 93-406, title II, Sec. 1031(c)(3), 2002(g)(8),
Sept. 2, 1974, 88 Stat. 947, 970; Pub. L. 94-455, title XV, Sec.
1501(b)(9), title XIX, Sec. 1906(b)(13)(A), Oct. 4, 1976, 90 Stat.
1737, 1834; Pub. L. 97-34, title III, Sec. 311(h)(8), Aug. 13,
1981, 95 Stat. 282; Pub. L. 97-248, title III, Sec. 334(b), Sept.
3, 1982, 96 Stat. 626; Pub. L. 97-448, title I, Sec. 103(c)(12)(C),
Jan. 12, 1983, 96 Stat. 2377; Pub. L. 98-369, div. A, title IV,
Sec. 491(d)(47), (57), July 18, 1984, 98 Stat. 852; Pub. L. 99-514,
title XV, Sec. 1501(d)(1)(D), title XVIII, Sec. 1848(e)(2), Oct.
22, 1986, 100 Stat. 2740, 2857; Pub. L. 101-239, title VII, Sec.
7301(e), Dec. 19, 1989, 103 Stat. 2349; Pub. L. 102-318, title V,
Sec. 522(b)(2)(D), (E), July 3, 1992, 106 Stat. 314; Pub. L.
104-188, title I, Sec. 1455(b)(2), (d)(1), 1602(b)(6), Aug. 20,
1996, 110 Stat. 1818, 1834; Pub. L. 107-16, title VI, Sec.
617(d)(2), June 7, 2001, 115 Stat. 106.)
Amendment of Section
AMENDMENT OF SECTION
Pub. L. 107-16, title VI, Sec. 617(d)(2), (f), title IX, Sec.
901, June 7, 2001, 115 Stat. 106, 150, provided that, applicable
to taxable years beginning after Dec. 31, 2005, this section is
temporarily amended by redesignating subsection (f) as subsection
(g) and by inserting after subsection (e) the following new
subsection:
(f) Designated Roth contributions
The Secretary shall require the plan administrator of each
applicable retirement plan (as defined in section 402A) to make
such returns and reports regarding designated Roth contributions
(as defined in section 402A) to the Secretary, participants and
beneficiaries of the plan, and such other persons as the Secretary
may prescribe.
See Effective and Termination Dates of 2001 Amendment note
below.
Miscellaneous
AMENDMENTS
1996 - Subsec. (d)(1). Pub. L. 104-188, Sec. 1455(b)(2), inserted
at end ''No return or report may be required under the preceding
sentence with respect to distributions to any person during any
year unless such distributions aggregate $10 or more.''
Subsec. (e)(1) to (3). Pub. L. 104-188, Sec. 1602(b)(6), added
pars. (1) and (2) and struck out former pars. (1) to (3) which read
as follows:
''(1) any employer maintaining, or the plan administrator (within
the meaning of section 414(g)) of, an employee stock ownership plan
-
''(A) which acquired stock in a transaction to which section
133 applies, or
''(B) which holds stock with respect to which section 404(k)
applies to dividends paid on such stock,
''(2) any person making or holding a loan to which section 133
applies, or
''(3) both such employer or plan administrator and such
person,''.
Subsec. (f)(1). Pub. L. 104-188, Sec. 1455(d)(1), amended par.
(1) generally. Prior to amendment, par. (1) read as follows: ''For
provisions relating to penalties for failure to file a return
required by this section, see section 6652(e).''
1992 - Subsec. (d)(1)(A). Pub. L. 102-318, Sec. 522(b)(2)(E),
which directed the substitution of ''section 3405(d)(3)'' for
''section 3405(d)(1)'', could not be executed because of the prior
amendment by Pub. L. 102-318, Sec. 522(b)(2)(D). See below.
Pub. L. 102-318, Sec. 522(b)(2)(D), substituted ''3405(e)(1)''
for ''3405(d)(1)''.
1989 - Subsecs. (e), (f). Pub. L. 101-239 added subsec. (e) and
redesignated former subsec. (e) as (f).
1986 - Subsec. (e)(1). Pub. L. 99-514, Sec. 1501(d)(1)(D),
substituted ''section 6652(e)'' for ''section 6652(f)''.
Subsec. (e)(3). Pub. L. 99-514, Sec. 1848(e)(2), added par. (3).
1984 - Pub. L. 98-369, Sec. 491(d)(57), struck out ''and bond
purchase'' after ''trusts and annuity'' in section catchline.
Subsecs. (c) to (f). Pub. L. 98-369, Sec. 491(d)(47),
redesignated former subsecs. (d) to (f) as (c) to (e),
respectively, and struck out former subsec. (c) which related to
information to be supplied by employees under qualified bond
purchase plans.
1983 - Subsec. (d). Pub. L. 97-448 substituted ''section 219''
for ''section 219(a)''.
1982 - Subsecs. (e), (f). Pub. L. 97-248 added subsec. (e) and
redesignated former subsec. (e) as (f).
1981 - Subsec. (d). Pub. L. 97-34 substituted ''section 219(a)''
for ''section 219(a) or 220(a)''.
1976 - Subsecs. (a) to (d). Pub. L. 94-455, Sec. 1906(b)(13)(A),
struck out ''or his delegate'' after ''Secretary'' wherever
appearing.
Subsec. (d). Pub. L. 94-455, Sec. 1501(b)(9), inserted ''or
220(a)'' after ''section 219(a)''.
1974 - Subsec. (d). Pub. L. 93-406, Sec. 2002(g)(8), added
subsec. (d). Former subsec. (d) redesignated (e).
Subsec. (e). Pub. L. 93-406, Sec. 1031(c)(3), 2002(g)(8),
redesignated former subsec. (d) as (e), and inserted reference to
section 6652(f) covering provisions relating to penalties for
failure to file a return required by this section.
EFFECTIVE AND TERMINATION DATES OF 2001 AMENDMENT
Amendment by Pub. L. 107-16 applicable to taxable years beginning
after Dec. 31, 2005, see section 617(f) of Pub. L. 107-16, set out
as a note under section 402 of this title.
Amendment by Pub. L. 107-16 inapplicable to taxable, plan, or
limitation years beginning after Dec. 31, 2010, and the Internal
Revenue Code of 1986 to be applied and administered to such years
as if such amendment had never been enacted, see section 901 of
Pub. L. 107-16, set out as a note under section 1 of this title.
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by section 1455(b)(2), (d)(1) of Pub. L. 104-188
applicable to returns, reports, and other statements the due date
for which (determined without regard to extensions) is after Dec.
31, 1996, see section 1455(e) of Pub. L. 104-188, set out as a note
under section 408 of this title.
Amendment by section 1602(b)(6) of Pub. L. 104-188 applicable to
loans made after Aug. 20, 1996, with exception and provisions
relating to certain refinancings, see section 1602(c) of Pub. L.
104-188, set out as an Effective Date of Repeal note under former
section 133 of this title.
EFFECTIVE DATE OF 1992 AMENDMENT
Amendment by Pub. L. 102-318 applicable, except as otherwise
provided, to distributions after Dec. 31, 1992, see section 522(d)
of Pub. L. 102-318.
EFFECTIVE DATE OF 1989 AMENDMENT
Amendment by Pub. L. 101-239, applicable, except as otherwise
provided, to loans made after July 10, 1989, see section 7301(f) of
Pub. L. 101-239, set out as a note under section 133 of this title.
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by section 1501(d)(1)(D) of Pub. L. 99-514 applicable
to returns the due date for which (determined without regard to
extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L.
99-514, set out as an Effective Date note under section 6721 of
this title.
Amendment by section 1848(e)(2) of Pub. L. 99-514 effective,
except as otherwise provided, as if included in the provisions of
the Tax Reform Act of 1984, Pub. L. 98-369, div. A, to which such
amendment relates, see section 1881 of Pub. L. 99-514, set out as a
note under section 48 of this title.
EFFECTIVE DATE OF 1984 AMENDMENT
Amendment by Pub. L. 98-369 applicable to obligations issued
after Dec. 31, 1983, see section 491(f)(1) of Pub. L. 98-369, set
out as a note under section 62 of this title.
EFFECTIVE DATE OF 1983 AMENDMENT
Amendment by Pub. L. 97-448 effective, except as otherwise
provided, as if it had been included in the provision of the
Economic Recovery Tax Act of 1981, Pub. L. 97-34, to which such
amendment relates, see section 109 of Pub. L. 97-448, set out as a
note under section 1 of this title.
EFFECTIVE DATE OF 1982 AMENDMENT
Amendment by Pub. L. 97-248 effective Jan. 1, 1983, see section
334(e) of Pub. L. 97-248, set out as an Effective Date note under
section 3405 of this title.
EFFECTIVE DATE OF 1981 AMENDMENT
Amendment by Pub. L. 97-34 applicable to taxable years beginning
after Dec. 31, 1981, see section 311(i)(1) of Pub. L. 97-34, set
out as a note under section 219 of this title.
EFFECTIVE DATE OF 1976 AMENDMENT
Amendment by section 1501(b)(9) of Pub. L. 94-455 applicable to
taxable years beginning after Dec. 31, 1976, see section 1501(d) of
Pub. L. 94-455, set out as a note under section 62 of this title.
EFFECTIVE DATE OF 1974 AMENDMENT
Amendment by section 1031(c)(3) of Pub. L. 93-406 effective Sept.
2, 1974, see section 1034 of Pub. L. 93-406, set out as an
Effective Date note under section 6057 of this title.
Amendment by section 2002(g)(8) of Pub. L. 93-406 effective Jan.
1, 1975, see section 2002(i)(2) of Pub. L. 93-406, set out as an
Effective Date note under section 4973 of this title.
EFFECTIVE DATE
Section applicable to taxable years beginning after Dec. 31,
1962, see section 8 of Pub. L. 87-792, set out as a note under
section 22 of this title.
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1998
For provisions directing that if any amendments made by subtitle
D (Sec. 1401-1465) of title I of Pub. L. 104-188 require an
amendment to any plan or annuity contract, such amendment shall not
be required to be made before the first day of the first plan year
beginning on or after Jan. 1, 1998, see section 1465 of Pub. L.
104-188, set out as a note under section 401 of this title.
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1994
For provisions directing that if any amendments made by subtitle
B (Sec. 521-523) of title V of Pub. L. 102-318 require an amendment
to any plan, such plan amendment shall not be required to be made
before the first plan year beginning on or after Jan. 1, 1994, see
section 523 of Pub. L. 102-318, set out as a note under section 401
of this title.
PLAN AMENDMENTS NOT REQUIRED UNTIL JANUARY 1, 1989
For provisions directing that if any amendments made by subtitle
A or subtitle C of title XI (Sec. 1101-1147 and 1171-1177) or title
XVIII (Sec. 1800-1899A) of Pub. L. 99-514 require an amendment to
any plan, such plan amendment shall not be required to be made
before the first plan year beginning on or after Jan. 1, 1989, see
section 1140 of Pub. L. 99-514, as amended, set out as a note under
section 401 of this title.
References
SECTION REFERRED TO IN OTHER SECTIONS
This section is referred to in sections 6041, 6652, 6704, 6724,
7207 of this title.
