26 U.S.C. § 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)

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.

(g)

Information relating to life insurance contract transactions

This section shall not apply to any information which is required to be reported under section 6050Y.

(h)

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.

(4)

For provisions requiring reporting of information relating to certain life insurance contract transactions, see section 6050Y.

Pub. L. 87–792, § 7(m)(1)Oct. 10, 196276 Stat. 830 Pub. L. 93–406, title IISept. 2, 197488 Stat. 947 Pub. L. 94–455, title XV, § 1501(b)(9)Oct. 4, 197690 Stat. 1737 Pub. L. 97–34, title III, § 311(h)(8)Aug. 13, 198195 Stat. 282 Pub. L. 97–248, title III, § 334(b)Sept. 3, 198296 Stat. 626 Pub. L. 97–448, title I, § 103(c)(12)(C)Jan. 12, 198396 Stat. 2377 Pub. L. 98–369, div. A, title IV, § 491(d)(47)July 18, 198498 Stat. 852 Pub. L. 99–514, title XV, § 1501(d)(1)(D)Oct. 22, 1986100 Stat. 2740 Pub. L. 101–239, title VII, § 7301(e)Dec. 19, 1989103 Stat. 2349 Pub. L. 102–318, title V, § 522(b)(2)(D)July 3, 1992106 Stat. 314 Pub. L. 104–188, title IAug. 20, 1996110 Stat. 1818 Pub. L. 107–16, title VI, § 617(d)(2)June 7, 2001115 Stat. 106 Pub. L. 115–97, title I, § 13520(c)(2)Dec. 22, 2017131 Stat. 2151(Added , , ; amended , §§ 1031(c)(3), 2002(g)(8), , , 970; , title XIX, § 1906(b)(13)(A), , , 1834; , , ; , , ; , , ; , (57), , ; , title XVIII, § 1848(e)(2), , , 2857; , , ; , (E), , ; , §§ 1455(b)(2), (d)(1), 1602(b)(6), , , 1834; , , ; , , .)

Editorial Notes

Amendments

Pub. L. 115–97, § 13520(c)(2)(B)2017—Subsec. (g). , added subsec. (g). Former subsec. (g) redesignated (h).

Pub. L. 115–97, § 13520(c)(2)(A)Subsec. (h). , redesignated subsec. (g) as (h).

Pub. L. 115–97, § 13520(c)(2)(C)Subsec. (h)(4). , added par. (4). Text was editorially conformed to match the style of pars. (1) to (3).

Pub. L. 107–162001—Subsecs. (f), (g). added subsec. (f) and redesignated former subsec. (f) as (g).

Pub. L. 104–188, § 1455(b)(2)1996—Subsec. (d)(1). , 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.”

Pub. L. 104–188, § 1602(b)(6)Subsec. (e)(1) to (3). , 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,”.

Pub. L. 104–188, § 1455(d)(1)Subsec. (f)(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).”

Pub. L. 102–318, § 522(b)(2)(E)Pub. L. 102–318, § 522(b)(2)(D)1992—Subsec. (d)(1)(A). , which directed the substitution of “section 3405(d)(3)” for “section 3405(d)(1)”, could not be executed because of the prior amendment by . See below.

Pub. L. 102–318, § 522(b)(2)(D), substituted “3405(e)(1)” for “3405(d)(1)”.

Pub. L. 101–2391989—Subsecs. (e), (f). added subsec. (e) and redesignated former subsec. (e) as (f).

Pub. L. 99–514, § 1501(d)(1)(D)1986—Subsec. (e)(1). , substituted “section 6652(e)” for “section 6652(f)”.

Pub. L. 99–514, § 1848(e)(2)Subsec. (e)(3). , added par. (3).

Pub. L. 98–369, § 491(d)(57)1984—, struck out “and bond purchase” after “trusts and annuity” in section catchline.

Pub. L. 98–369, § 491(d)(47)Subsecs. (c) to (f). , 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.

Pub. L. 97–4481983—Subsec. (d). substituted “section 219” for “section 219(a)”.

Pub. L. 97–2481982—Subsecs. (e), (f). added subsec. (e) and redesignated former subsec. (e) as (f).

Pub. L. 97–341981—Subsec. (d). substituted “section 219(a)” for “section 219(a) or 220(a)”.

Pub. L. 94–455, § 1906(b)(13)(A)1976—Subsecs. (a) to (d). , struck out “or his delegate” after “Secretary” wherever appearing.

Pub. L. 94–455, § 1501(b)(9)Subsec. (d). , inserted “or 220(a)” after “section 219(a)”.

Pub. L. 93–406, § 2002(g)(8)1974—Subsec. (d). , added subsec. (d). Former subsec. (d) redesignated (e).

Pub. L. 93–406Subsec. (e). , §§ 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.

Statutory Notes and Related Subsidiaries

Effective Date of 2017 Amendment

Pub. L. 115–97, title I, § 13520(d)Dec. 22, 2017131 Stat. 2151

section 6050Y of this title section 6724 of this title“The amendments made by this section [enacting and amending this section and ] shall apply to—

“(1)

December 31, 2017 reportable policy sales (as defined in section 6050Y(d)(2) of the Internal Revenue Code of 1986 (as added by subsection (a)) after , and

“(2)

December 31, 2017 reportable death benefits (as defined in section 6050Y(d)(4) of such Code (as added by subsection (a)) paid after .”

, , , provided that:

Effective Date of 2001 Amendment

Pub. L. 107–16Dec. 31, 2005section 617(f) of Pub. L. 107–16 section 402 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Effective Date of 1996 Amendment

Pub. L. 104–188Dec. 31, 1996section 1455(e) of Pub. L. 104–188 section 408 of this titleAmendment by section 1455(b)(2), (d)(1) of applicable to returns, reports, and other statements the due date for which (determined without regard to extensions) is after , see , set out as a note under .

section 1602(b)(6) of Pub. L. 104–188Aug. 20, 1996section 1602(c) of Pub. L. 104–188 section 133 of this titleAmendment by applicable to loans made after , with exception and provisions relating to certain refinancings, see , set out as an Effective Date of Repeal note under former .

Effective Date of 1992 Amendment

Pub. L. 102–318Dec. 31, 1992section 522(d) of Pub. L. 102–318 section 401 of this titleAmendment by applicable, except as otherwise provided, to distributions after , see , set out as a note under .

Effective Date of 1989 Amendment

Pub. L. 101–239July 10, 1989section 7301(f) of Pub. L. 101–239 section 133 of this titleAmendment by , applicable, except as otherwise provided, to loans made after , see , set out as a note under .

Effective Date of 1986 Amendment

section 1501(d)(1)(D) of Pub. L. 99–514Dec. 31, 1986section 1501(e) of Pub. L. 99–514 section 6721 of this titleAmendment by applicable to returns the due date for which (determined without regard to extensions) is after , see , set out as an Effective Date note under .

section 1848(e)(2) of Pub. L. 99–514 Pub. L. 98–369, div. A section 1881 of Pub. L. 99–514 section 48 of this titleAmendment by effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, , to which such amendment relates, see , set out as a note under .

Effective Date of 1984 Amendment

Pub. L. 98–369Dec. 31, 1983section 491(f)(1) of Pub. L. 98–369 section 62 of this titleAmendment by applicable to obligations issued after , see , set out as a note under .

Effective Date of 1983 Amendment

Pub. L. 97–448 Pub. L. 97–34 section 109 of Pub. L. 97–448 section 1 of this titleAmendment by effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, , to which such amendment relates, see , set out as a note under .

Effective Date of 1982 Amendment

Pub. L. 97–248Jan. 1, 1983section 334(e) of Pub. L. 97–248 section 3405 of this titleAmendment by effective , see , set out as an Effective Date note under .

Effective Date of 1981 Amendment

Pub. L. 97–34Dec. 31, 1981section 311(i)(1) of Pub. L. 97–34 section 219 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Effective Date of 1976 Amendment

section 1501(b)(9) of Pub. L. 94–455Dec. 31, 1976section 1501(d) of Pub. L. 94–455 section 62 of this titleAmendment by applicable to taxable years beginning after , see , set out as a note under .

Effective Date of 1974 Amendment

section 1031(c)(3) of Pub. L. 93–406Sept. 2, 1974section 1034 of Pub. L. 93–406 section 6057 of this titleAmendment by effective , see , set out as an Effective Date note under .

section 2002(g)(8) of Pub. L. 93–406Jan. 1, 1975section 2002(i)(2) of Pub. L. 93–406 section 4973 of this titleAmendment by effective , see , set out as an Effective Date note under .

Effective Date

Dec. 31, 1962section 8 of Pub. L. 87–792 section 22 of this titleSection applicable to taxable years beginning after , see , set out as a note under .

Plan Amendments Not Required Until January 1, 1998

Pub. L. 104–188Jan. 1, 1998section 1465 of Pub. L. 104–188 section 401 of this titleFor provisions directing that if any amendments made by subtitle D [§§ 1401–1465] of title I of 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 , see , set out as a note under .

Plan Amendments Not Required Until January 1, 1994

Pub. L. 102–318Jan. 1, 1994section 523 of Pub. L. 102–318 section 401 of this titleFor provisions directing that if any amendments made by subtitle B [§§ 521–523] of title V of 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 , see , set out as a note under .

Plan Amendments Not Required Until January 1, 1989

Pub. L. 99–514Jan. 1, 1989section 1140 of Pub. L. 99–514 section 401 of this titleFor provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of 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 , see , as amended, set out as a note under .