Internal Revenue Code:Sec. 6049. Returns regarding payments of interest
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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. 6049. Returns regarding payments of interest
(a) Requirement of reporting
Every person -
(1) who makes payments of interest (as defined in subsection
(b)) aggregating $10 or more to any other person during any
calendar year, or
(2) who receives payments of interest (as so defined) as a
nominee and who makes payments aggregating $10 or more during any
calendar year to any other person with respect to the interest so
received,
shall make a return according to the forms or regulations
prescribed by the Secretary, setting forth the aggregate amount of
such payments and the name and address of the person to whom paid.
(b) Interest defined
(1) General rule
For purposes of subsection (a), the term ''interest'' means -
(A) interest on any obligation -
(i) issued in registered form, or
(ii) of a type offered to the public,
other than any obligation with a maturity (at issue) of not
more than 1 year which is held by a corporation,
(B) interest on deposits with persons carrying on the banking
business,
(C) amounts (whether or not designated as interest) paid by a
mutual savings bank, savings and loan association, building and
loan association, cooperative bank, homestead association,
credit union, industrial loan association or bank, or similar
organization, in respect of deposits, investment certificates,
or withdrawable or repurchasable shares,
(D) interest on amounts held by an insurance company under an
agreement to pay interest thereon,
(E) interest on deposits with brokers (as defined in section
6045(c)),
(F) interest paid on amounts held by investment companies (as
defined in section 3 of the Investment Company Act of 1940 (15
U.S.C. 80a-3)) and on amounts invested in other pooled funds or
trusts, and
(G) to the extent provided in regulations prescribed by the
Secretary, any other interest (which is not described in
paragraph (2)).
(2) Exceptions
For purposes of subsection (a), the term ''interest'' does not
include -
(A) interest on any obligation issued by a natural person,
(B) except to the extent otherwise provided in regulations -
(i) any amount paid to any person described in paragraph
(4), or
(ii) any amount described in paragraph (5), and
(C) except to the extent otherwise provided in regulations,
any amount not described in subparagraph (B) of this paragraph
which is income from sources outside the United States or which
is paid by -
(i) a foreign government or international organization or
any agency or instrumentality thereof,
(ii) a foreign central bank of issue,
(iii) a foreign corporation not engaged in a trade or
business in the United States,
(iv) a foreign corporation, the interest payments of which
would be exempt from withholding under subchapter A of
chapter 3 if paid to a person who is not a United States
person, or
(v) a partnership not engaged in a trade or business in the
United States and composed in whole of nonresident alien
individuals and person described in clause (i), (ii), or
(iii).
(3) Payments by United States nominees, etc., of United States
person
If, within the United States, a United States person -
(A) collects interest (or otherwise acts as a middleman
between the payor and payee) from a foreign person described in
paragraph (2)(D) or collects interest from a United States
person which is income from sources outside the United States
for a second person who is a United States person, or
(B) makes payments of such interest to such second United
States person,
notwithstanding paragraph (2)(D), such payment shall be subject
to the requirements of subsection (a) with respect to such second
United States person.
(4) Persons described in this paragraph
A person is described in this paragraph if such person is -
(A) a corporation,
(B) an organization exempt from taxation under section 501(a)
or an individual retirement plan,
(C) the United States or any wholly owned agency or
instrumentality thereof,
(D) a State, the District of Columbia, a possession of the
United States, any political subdivision of any of the
foregoing, or any wholly owned agency or instrumentality of any
one or more of the foregoing,
(E) a foreign government, a political subdivision of a
foreign government, or any wholly owned agency or
instrumentality of any one or more of the foregoing,
(F) an international organization or any wholly owned agency
or instrumentality thereof,
(G) a foreign central bank of issue,
(H) a dealer in securities or commodities required to
register as such under the laws of the United States or a
State, the District of Columbia, or a possession of the United
States,
(I) a real estate investment trust (as defined in section
856),
(J) an entity registered at all times during the taxable year
under the Investment Company Act of 1940,
(K) a common trust fund (as defined in section 584(a)), or
(L) any trust which -
(i) is exempt from tax under section 664(c), or
(ii) is described in section 4947(a)(1).
(5) Amounts described in this paragraph
An amount is described in this paragraph if such amount -
(A) is subject to withholding under subchapter A of chapter 3
(relating to withholding of tax on nonresident aliens and
foreign corporations) by the person paying such amount, or
(B) would be subject to withholding under subchapter A of
chapter 3 by the person paying such amount but for the fact
that -
(i) such amount is income from sources outside the United
States,
(ii) the payor thereof is exempt from the application of
section 1441(a) by reason of section 1441(c) or a tax treaty,
(iii) such amount is original issue discount (within the
meaning of section 1273(a)), or
(iv) such amount is described in section 871(i)(2).
(c) Statements to be furnished to persons with respect to whom
information is required
(1) In general
Every person required to make a return under subsection (a)
shall furnish to each person whose name is required to be set
forth in such return a written statement showing -
(A) the name, address, and phone number of the information
contact of the person required to make such return, and
(B) the aggregate amount of payments to, or the aggregate
amount includible in the gross income of, the person required
to be shown on the return.
(2) Time and form of statement
The written statement under paragraph (1) -
(A) shall be furnished (either in person or in a statement
mailing by first-class mail which includes adequate notice that
the statement is enclosed) to the person on or before January
31 of the year following the calendar year for which the return
under subsection (a) was required to be made, and
(B) shall be in such form as the Secretary may prescribe by
regulations.
(d) Definitions and special rules
For purposes of this section -
(1) Person
The term ''person'' includes any governmental unit and any
agency or instrumentality thereof and any international
organization and any agency or instrumentality thereof.
(2) Obligation
The term ''obligation'' includes bonds, debentures, notes,
certificates, and other evidences of indebtedness.
(3) Payments by governmental units
In the case of payments made by any governmental unit or any
agency or instrumentality thereof, the officer or employee having
control of the payment of interest (or the person appropriately
designated for purposes of this section) shall make the returns
and statements required by this section.
(4) Financial institutions, brokers, etc., collecting interest
may be substituted for payor
To the extent and in the manner provided by regulations, in the
case of any obligation -
(A) a financial institution, broker, or other person
specified in such regulations which collects interest on such
obligation for the payee (or otherwise acts as a middleman
between the payor and the payee) shall comply with the
requirements of subsections (a) and (c), and
(B) no other person shall be required to comply with the
requirements of subsections (a) and (c) with respect to any
interest on such obligation for which reporting is required
pursuant to subparagraph (A).
(5) Interest on certain obligations may be treated on a
transactional basis
(A) In general
To the extent and in the manner provided in regulations, this
section shall apply with respect to -
(i) any person described in paragraph (4)(A), and
(ii) in the case of any United States savings bonds, any
Federal agency making payments thereon,
on any transactional basis rather than on an annual aggregation
basis.
(B) Separate returns and statements
If subparagraph (A) applies to interest on any obligation,
the return under subsection (a) and the statement furnished
under subsection (c) with respect to such transaction may be
made separately, but any such statement shall be furnished to
the payee at such time as the Secretary may prescribe by
regulations but not later than January 31 of the next calendar
year.
(C) Statement to payee required in case of transactions
involving $10 or more
In the case of any transaction to which this paragraph
applies which involves the payment of $10 or more of interest,
a statement of the transaction may be provided to the payee of
such interest in lieu of the statement required under
subsection (c). Such statement shall be provided during January
of the year following the year in which such payment is made.
(6) Treatment of original issue discount
(A) In general
Original issue discount on any obligation shall be reported -
(i) as if paid at the time it is includible in gross income
under section 1272 (except that for such purpose the amount
reportable with respect to any subsequent holder shall be
determined as if he were the original holder), and
(ii) if section 1272 does not apply to the obligation, at
maturity (or, if earlier, on redemption).
In the case of any obligation not in registered form issued
before January 1, 1983, clause (ii) and not clause (i) shall
apply.
(B) Original issue discount
For purposes of this paragraph, the term ''original issue
discount'' has the meaning given to such term by section
1273(a).
(7) Interests in REMIC's and certain other debt instruments
(A) In general
For purposes of subsection (a), the term ''interest''
includes amounts includible in gross income with respect to
regular interests in REMIC's (and such amounts shall be treated
as paid when includible in gross income under section 860B(b)).
(B) Reporting to corporations, etc.
Except as otherwise provided in regulations, in the case of
any interest described in subparagraph (A) of this paragraph
and any other debt instrument to which section 1272(a)(6)
applies, subsection (b)(4) of this section shall be applied
without regard to subparagraphs (A), (H), (I), (J), (K), and
(L)(i).
(C) Additional information
Except as otherwise provided in regulations, any return or
statement required to be filed or furnished under this section
with respect to interest income described in subparagraph (A)
and interest on any other debt instrument to which section
1272(a)(6) applies shall also provide information setting forth
the adjusted issue price of the interest to which the return or
statement relates at the beginning of each accrual period with
respect to which interest income is required to be reported on
such return or statement and information necessary to compute
accrual of market discount.
(D) Regulatory authority
The Secretary may prescribe such regulations as are necessary
or appropriate to carry out the purposes of this paragraph,
including regulations which require more frequent or more
detailed reporting.
(8) REPORTING OF CREDIT ON CLEAN RENEWABLE ENERGY BONDS-
(A) IN GENERAL- For purposes of subsection (a), the term `interest'
includes amounts includible in gross income under section 54(g) or
1400N(1)(6) and such amounts shall be treated as paid on the credit
allowance date (as defined in section 54(b)(4) or 1400N(1)(2)(D),
as the case may be).
(B) REPORTING TO CORPORATIONS, ETC- Except as otherwise provided in
regulations, in the case of any interest described in
subparagraph (A), subsection (b)(4) shall be applied without
regard to subparagraphs (A), (H), (I), (J), (K), and (L)(i) of
such subsection.
(C) REGULATORY AUTHORITY- The Secretary may prescribe such
regulations as are necessary or appropriate to carry out the
purposes of this paragraph, including regulations which require
more frequent or more detailed reporting.
Sources
(Added Pub. L. 87-834, Sec. 19(c), Oct. 16, 1962, 76 Stat. 1055;
amended Pub. L. 91-172, title IV, Sec. 413(c), (d), Dec. 30, 1969,
83 Stat. 611, 612; Pub. L. 94-455, title XIX, Sec. 1901(b)(6)(A),
1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1793, 1834; Pub. L. 97-248,
title III, Sec. 303(b), 308(a), 309(a), Sept. 3, 1982, 96 Stat.
587, 591; Pub. L. 97-424, title V, Sec. 547(b)(4), Jan. 6, 1983, 96
Stat. 2200; Pub. L. 98-67, title I, Sec. 102(a), (e), 108(a), Aug.
5, 1983, 97 Stat. 369, 370, 383; Pub. L. 98-369, div. A, title I,
Sec. 42(a)(14), title IV, Sec. 474(r)(29)(J), July 18, 1984, 98
Stat. 557, 845; Pub. L. 99-514, title VI, Sec. 674, title XII, Sec.
1214(c)(4), title XV, Sec. 1501(c)(5), title XVIII, Sec.
1803(a)(14)(C), Oct. 22, 1986, 100 Stat. 2319, 2543, 2737, 2797;
Pub. L. 100-647, title I, Sec. 1006(t)(24), (v), Nov. 10, 1988, 102
Stat. 3426, 3427; Pub. L. 104-168, title XII, Sec. 1201(a)(6), July
30, 1996, 110 Stat. 1469.)
References in Text
REFERENCES IN TEXT
The Investment Company Act of 1940, referred to in subsec.
(b)(4)(J), is title I of act Aug. 22, 1940, ch. 686, 54 Stat. 789,
as amended, which is classified generally to subchapter I (Sec.
80a-1 et seq.) of chapter 2D of Title 15, Commerce and Trade. For
complete classification of this Act to the Code, see section 80a-51
of Title 15 and Tables.
Miscellaneous
AMENDMENTS
2006 - P.L. 109-222
SEC. 502. REPORTING OF INTEREST ON TAX-EXEMPT BONDS.
(a) In General.--Section 6049(b)(2) (relating to exceptions) is
amended by striking subparagraph (B) and by redesignating subparagraphs
(C) and (D) as subparagraphs (B) and (C), respectively.
(b) Conforming Amendment.--Section 6049(b)(2)(C), as redesignated by
subsection (a), is amended by striking ``subparagraph (C)'' and
inserting ``subparagraph (B)''.
(c) Effective Date.--The <<NOTE: 26 USC 6049 note.>> amendments made
by this section shall apply to interest paid after December 31, 2005.
2005 - Energy Policy Act of 2005, PL109-058, amends Sec. 6049(d) by adding
new paragraph (8)-Reporting of Credit on Clean Renewable Energy Bonds.
Effective Date- The amendments made by this section shall apply to
bonds issued after December 31, 2005.
1996 - Subsec. (c)(1)(A). Pub. L. 104-168 substituted ''name,
address, and phone number of the information contact'' for ''name
and address''.
1988 - Subsec. (d)(7)(A). Pub. L. 100-647, Sec. 1006(v), inserted
parenthetical phrase relating to amounts treated as paid when
includible in gross income under section 860B(b).
Subsec. (d)(7)(C). Pub. L. 100-647, Sec. 1006(t)(24), substituted
''the adjusted issue price'' for ''the issue price''.
1986 - Subsec. (b)(5)(B)(iii). Pub. L. 99-514, Sec.
1803(a)(14)(C), substituted ''section 1273(a)'' for ''section
1232(b)(1)''.
Subsec. (b)(5)(B)(iv). Pub. L. 99-514, Sec. 1214(c)(4), added cl.
(iv).
Subsec. (c). Pub. L. 99-514, Sec. 1501(c)(5), in amending subsec.
(c) generally, substituted ''information is required'' for
''information is furnished'' in subsection heading and, in text,
substituted references to persons required to make a return for
former references to persons making a return and struck out
provisions that no statement was required if the aggregate amount
of payments to the person shown on the return was less than $10.
Subsec. (d)(7). Pub. L. 99-514, Sec. 674, added par. (7).
1984 - Subsec. (b)(2)(E). Pub. L. 98-369, Sec. 474(r)(29)(J),
struck out subpar. (E) which related to amounts on which the person
making payments was required to deduct and withhold a tax under
section 1451 (relating to tax-free covenant bonds), or would have
been so required but for section 1451(d) (relating to benefit of
personal exemptions).
Subsec. (d)(6)(A). Pub. L. 98-369, Sec. 42(a)(14)(A), substituted
''section 1272'' for ''section 1232A'' in two places.
Subsec. (d)(6)(B). Pub. L. 98-369, Sec. 42(a)(14)(B), substituted
''section 1273(a)'' for ''section 1232(b)(1)''.
1983 - Subsec. (a). Pub. L. 98-67, Sec. 102(e)(1), struck out
par. (3) which related to persons required under subchapter B of
chapter 24 to withhold tax on the payment of interest and, in
provisions following par. (2), substituted ''and the name and
address of the person to whom paid'' for '', tax deducted and
withheld, and the name and address of the person to whom paid or
from whom withheld''.
Subsec. (b)(2)(B). Pub. L. 97-424 substituted ''this title'' for
''law''.
Subsec. (b)(2)(C). Pub. L. 98-67, Sec. 102(e)(2), amended subpar.
(C) generally, substituting in cl. (i) ''person described in
paragraph (4), or'' for ''person referred to in paragraph (2) of
section 3452(c) (other than subparagraphs (J) and (K) thereof),
or'' and in cl. (ii) ''described in paragraph (5),'' for
''described in section 3454(a)(2)(D) or (E),''.
Subsec. (b)(4), (5). Pub. L. 98-67, Sec. 102(e)(2)(B), added
pars. (4) and (5).
Subsec. (c)(1)(C). Pub. L. 98-67, Sec. 102(e)(3), struck out
subpar. (C) which related to aggregate amount of tax deducted and
withheld with respect to the person under subchapter B of chapter
24.
Subsec. (c)(2). Pub. L. 98-67, Sec. 108(a), amended par. (2)
generally, inserting provision allowing the written statement to be
furnished either in person or in a separate mailing by first-class
mail and authorizing the Secretary to prescribe by regulation the
form that the written statement must take.
Subsec. (e). Pub. L. 98-67, Sec. 102(a), repealed amendments made
by Pub. L. 97-248. See 1982 Amendment note below.
1982 - Subsec. (a). Pub. L. 97-248, Sec. 309(a), redesignated
subpars. (A) and (B) of former par. (1) as pars. (1) and (2),
respectively, in par. (2) as so redesignated inserted ''(as so
defined)'' after ''payments of interest'', substituted par. (3) for
former par. (1)(C) which described corporations with evidence of
outstanding indebtedness in registered form for which during any
calendar year there was at least $10 of original issue discount
includible in the gross income of a holder under section 1232(a)(3)
of this title without regard to subpar. (B) thereof, substituted
''of such payments, tax deducted and withheld, and the name and
address of the person to whom paid or from whom withheld'' for ''of
such payments and such aggregate amount includible in the gross
income of any holder and the name and address of the person to whom
paid or such holder'' in provisions following par. (3), formerly
following par. (1)(C), and struck out former par. (2), which
directed persons making aggregate interest payments of less than
$10 to another person during any calendar year to report such
payments and the recipients when required by the Secretary, and
former par. (3), which required all corporations making payments of
any amount of interest other than as defined in subsec. (b) to
report such payments and the recipients when required by the
Secretary.
Subsec. (b). Pub. L. 97-248, Sec. 309(a), substituted
''subsection (a)'' for ''subsections (a)(1) and (2)'' in provisions
preceding subpar. (A), in subpar. (A) substituted ''any obligation
(i) issued in registered form, or (ii) of a type offered to the
public, other than any obligation with a maturity (at issue) of not
more than 1 year which is held by a corporation'' for ''evidences
of indebtedness (including bonds, debentures, notes, and
certificates) issued by a corporation in registered form, and, to
the extent provided in regulations prescribed by the Secretary,
interest on other evidences of indebtedness issued by a corporation
of a type offered by corporations to the public'' in subpar. (C)
inserted ''industrial loan association or bank'' to list of payors
of interest, in subpar. (E) substituted ''brokers (as defined in
section 6045(c))'' for ''stockbrokers and dealers in securities'',
added subpars. (F) and (G), in par. (2) substituted ''subsection
(a)'' for ''subsections (a)(1) and (2)'' in provisions preceding
subpar. (A), added subpar. (A), redesignated former subpar. (A) as
(B), in subpar. (B) as so redesignated inserted reference to
exemption under any provision of law, added subpar. (C),
redesignated former subpar. (B) as (D), in subpar. (D) as so
redesignated substituted provisions that the subpar. operates
except to the extent otherwise provided in regulations or in
subpar. (C) for provisions that the subpar. operates to the extent
provided in regulations, added cls. (i) and (ii), designated
existing provisions as cls. (iii) to (v), in cl. (iii) as so
designated inserted specification of not being engaged in trade or
business in the United States, in cl. (iv) as so designated
inserted specification of exemption under subchapter A of chapter
3, redesignated former subpar. (C) as (E), and added par. (3).
Subsec. (c). Pub. L. 97-248, Sec. 309(a), substituted
''subsection (a)'' for ''subsection (a)(1)'' wherever appearing,
designated provision before former par. (1) as par. (1),
redesignated former pars. (1) and (2) as subpars. (A) and (B),
respectively, added subpar. (C), designated first sentence after
former par. (2) as par. (2), designated second sentence after
former par. (2) as par. (3), in par. (3) as so designated inserted
''with respect to payments of interest to any person'' after ''No
statement'', struck out '', or the aggregate amount includible in
the gross income of,'' after ''payments to'', and substituted
''paragraph (1) or (2)'' for ''subparagraph (A), (B), or (C)''
after ''with respect to''.
Subsec. (d). Pub. L. 97-248, Sec. 309(a), added subsec. (d).
Subsec. (e). Pub. L. 97-248, Sec. 303(b), 308(a), provided that,
applicable to payments of interest, dividends, and patronage
dividends paid or credited after June 30, 1983, a new subsec. (e)
is added. Section 102(a), (b) of Pub. L. 98-67, title I, Aug. 5,
1983, 97 Stat. 369, repealed subtitle A (Sec. 301-308) of title III
of Pub. 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.
1976 - Subsec. (a). Pub. L. 94-455, Sec. 1906(b)(13)(A), struck
out ''or his delegate'' after ''Secretary'' wherever appearing.
Subsec. (b)(1), (2)(A), (B). Pub. L. 94-455, Sec. 1901(b)(6)(A),
1906(b)(13)(A), substituted ''section 103(a)'' for ''section
103(a)(1) or (3)'', and struck out ''or his delegate'' after
''Secretary'' wherever appearing.
1969 - Subsec. (a)(1)(C). Pub. L. 91-172, Sec. 413(c), added
subpar. (C).
Subsec. (c). Pub. L. 91-172, Sec. 413(d), further qualified
requirement to furnish statement by reference to aggregate amount
includible in gross income.
EFFECTIVE DATE OF 2006 AMENDMENT
2006 - P.L. 109-222
SEC. 502. REPORTING OF INTEREST ON TAX-EXEMPT BONDS.
(c) Effective Date.--The <<NOTE: 26 USC 6049 note.>> amendments made
by this section shall apply to interest paid after December 31, 2005.
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by Pub. L. 104-168 applicable to statements required to
be furnished after Dec. 31, 1996 (determined without regard to any
extension), see section 1201(b) of Pub. L. 104-168, set out as a
note under section 6041 of this title.
EFFECTIVE DATE OF 1988 AMENDMENT
Amendment by Pub. L. 100-647 effective, except as otherwise
provided, as if included in the provision of the Tax Reform Act of
1986, Pub. L. 99-514, to which such amendment relates, see section
1019(a) of Pub. L. 100-647, set out as a note under section 1 of
this title.
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by section 674 of Pub. L. 99-514 effective Jan. 1,
1987, see section 675(a) of Pub. L. 99-514, as amended, set out as
an Effective Date note under section 860A of this title.
Amendment by section 1214(c)(4) of Pub. L. 99-514 applicable to
payments made in taxable year of payor beginning after Dec. 31,
1986, except as otherwise provided, see section 1214(d) of Pub. L.
99-514, as amended, set out as a note under section 861 of this
title.
Amendment by section 1501(c)(5) of Pub. 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 Pub. L.
99-514, set out as an Effective Date note under section 6721 of
this title.
Amendment by section 1803(a)(14)(C) 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 section 42(a)(14) of Pub. L. 98-369 applicable to
taxable years ending after July 18, 1984, see section 44 of Pub. L.
98-369, set out as an Effective Date note under section 1271 of
this title.
Amendment by section 474(r)(29)(J) of Pub. L. 98-369 not
applicable with respect to obligations issued before Jan. 1, 1984,
see section 475(b) of Pub. L. 98-369, set out as a note under
section 33 of this title.
EFFECTIVE DATE OF 1983 AMENDMENT
Amendment by section 102(a), (e) of Pub. L. 98-67 effective as of
close of June 30, 1983, see section 110(b) of Pub. L. 98-67, set
out as a note under section 31 of this title.
Amendment by section 108(a) of Pub. L. 98-67 applicable with
respect to payments made after Dec. 31, 1983, see section 110(a) of
Pub. L. 98-67.
EFFECTIVE DATE OF 1982 AMENDMENT
Section 309(c) of Pub. L. 97-248 provided that: ''The amendments
made by this section (amending this section and sections 6041,
6652, and 6678 of this title) shall apply to amounts paid (or
treated as paid) after December 31, 1982.''
EFFECTIVE DATE OF 1969 AMENDMENT
Section 413(e) of Pub. L. 91-172 provided that: ''The amendments
made by this section (amending this section and section 1232 of
this title) shall apply with respect to bonds and other evidences
of indebtedness issued after May 27, 1969 (other than evidences of
indebtedness issued pursuant to a written commitment which was
binding on May 27, 1969, and at all times thereafter).''
EFFECTIVE DATE
Section applicable to payments of dividends and interest made on
or after Jan. 1, 1963, and to payments of amounts described in
section 6044(b) of this title made on or after Jan. 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 Jan. 1,
1963, see section 19(h) of Pub. L. 87-834, set out as an Effective
Date of 1962 Amendment note under section 6042 of this title.
APPLICABILITY OF CERTAIN AMENDMENTS BY PUB. L. 99-514 IN RELATION
TO TREATY OBLIGATIONS OF UNITED STATES
For nonapplication of amendment by section 1214(c)(4) of Pub. L.
99-514 to the extent application of such amendment would be
contrary to any treaty obligation of the United States in effect on
Oct. 22, 1986, with provision that for such purposes any amendment
by title I of Pub. L. 100-647 be treated as if it had been included
in the provision of Pub. L. 99-514 to which such amendment relates,
see section 1012(aa)(3), (4) of Pub. L. 100-647, set out as a note
under section 861 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 1276, 1278, 3406, 6041,
6042, 6050N, 6724 of this title.
