26 U.S.C. § 6045A — Information required in connection with transfers of covered securities to brokers

FEDERAL · 26 U.S.C. · Chapter 61

Information required in connection with transfers of covered securities to brokers

Current through Pub. L. 119-102

Title 26 — Internal Revenue Code·Ch. 61 — INFORMATION AND RETURNS·Subch. A·Pt. III

(a)Furnishing of information Every applicable person which transfers to a broker (as defined in section 6045(c)(1)) a covered security (as defined in section 6045(g)(3)) in the hands of such applicable person shall furnish to such broker a written statement in such manner and setting forth such information as the Secretary may by regulations prescribe for purposes of enabling such broker to meet the requirements of section 6045(g).

(b)Applicable person For purposes of subsection (a), the term "applicable person" means—

(1)any broker (as defined in section 6045(c)(1)), and

(2)any other person as provided by the Secretary in regulations.

(c)Time for furnishing statement Except as otherwise provided by the Secretary, any statement required by subsection (a) shall be furnished not later t

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(a) Furnishing of information
Every applicable person which transfers to a broker (as defined in section 6045(c)(1)) a covered security (as defined in section 6045(g)(3)) in the hands of such applicable person shall furnish to such broker a written statement in such manner and setting forth such information as the Secretary may by regulations prescribe for purposes of enabling such broker to meet the requirements of section 6045(g).
(b) Applicable person
For purposes of subsection (a), the term "applicable person" means—
(1) any broker (as defined in section 6045(c)(1)), and
(2) any other person as provided by the Secretary in regulations.
(c) Time for furnishing statement
Except as otherwise provided by the Secretary, any statement required by subsection (a) shall be furnished not later than 15 days after the date of the transfer described in such subsection.
(d) Return requirement for certain transfers of digital assets not otherwise subject to reporting
Any broker, with respect to any transfer (which is not part of a sale or exchange executed by such broker) during a calendar year of a covered security which is a digital asset from an account maintained by such broker to an account which is not maintained by, or an address not associated with, a person that such broker knows or has reason to know is also a broker, shall make a return for such calendar year, in such form as determined by the Secretary, showing the information otherwise required to be furnished with respect to transfers subject to subsection (a).

26 U.S.C. § 6045A (Information required in connection with transfers of covered securities to brokers) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Added Pub. L. 110–343, div. B, title IV, §403(c)(1), Oct. 3, 2008, 122 Stat. 3858; amended Pub. L. 117–58, div. H, title VI, §80603(b)(2)(A), Nov. 15, 2021, 135 Stat. 1340.)

Editorial Notes

Editorial Notes

Amendments
2021—Subsec. (a). Pub. L. 117–58, §80603(b)(2)(A)(i), struck out "a security which is" after "section 6045(c)(1))".
Subsec. (d). Pub. L. 117–58, §80603(b)(2)(A)(ii), added subsec. (d).

Statutory Notes and Related Subsidiaries

Effective Date of 2021 Amendment
Amendment by Pub. L. 117–58 applicable to returns required to be filed, and statements required to be furnished, after Dec. 31, 2023, see section 80603(c) of Pub. L. 117–58, set out as a note under section 6045 of this title.

Effective Date
Section effective Jan. 1, 2011, see section 403(e)(1) of Pub. L. 110–343, set out as an Effective Date of 2008 Amendment note under section 1012 of this title.