Browse Arkansas Code titles and sections
26 U.S.C. § 6046 — Returns as to organization or reorganization of foreign corporations and as to acquisitions of their stock
Federal law — U.S. Code and appendices · legal_authorities
**(a) Requirement of return**
(1) **In general** — A return complying with the requirements of subsection (b) shall be made by—
(A) each United States citizen or resident who becomes an officer or director of a foreign corporation if a United States person (as defined in section 7701(a)(30)) meets the stock ownership requirements of paragraph (2) with respect to such corporation,
(B) each United States person—
(i) who acquires stock which, when added to any stock owned on the date of such acquisition, meets the stock ownership requirements of paragraph (2) with respect to a foreign corporation, or
(ii) who acquires stock which, without regard to stock owned on the date of such acquisition, meets the stock ownership requirements of paragraph (2) with respect to a foreign corporation,
(C) each person (not described in subparagraph (B)) who is treated as a United States shareholder under section 953(c) with respect to a foreign corporation, and
(D) each person who becomes a United States person while meeting the stock ownership requirements of paragraph (2) with respect to stock of a foreign corporation.
In the case of a foreign corporation with respect to which any person is treated as a United States shareholder under section 953(c), subparagraph (A) shall be treated as including a reference to each United States person who is an officer or director of such corporation.
(2) **Stock ownership requirements** — A person meets the stock ownership requirements of this paragraph with respect to any corporation if such person owns 10 percent or more of—
(A) the total combined voting power of all classes of stock of such corporation entitled to vote, or
(B) the total value of the stock of such corporation.
**(b) Form and contents of returns** The
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6046
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 88a79f58858ef1b0f781859c9e630019bcd170cf875a8d2648b2667106903ba8. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_a99ec88b9d1c93571cc8aba7
Source file: Laws/federal/codes/united-states-code/title-26/section-6046-returns-as-to-organization-or-reorganization-of-foreign-corporations-and--d75db52fb8.md
Pages: Not recorded – Not recorded
Passage SHA-256: b1fc436fe79948f5dd532fccfdb638c18b2c7881c9eebc7fe8eebdf30c910d75
Source location: Title 26, Chapter 61, § 6046; chapter-061-information-and-returns.md
Stored source content
**(a) Requirement of return**
(1) **In general** — A return complying with the requirements of subsection (b) shall be made by—
(A) each United States citizen or resident who becomes an officer or director of a foreign corporation if a United States person (as defined in section 7701(a)(30)) meets the stock ownership requirements of paragraph (2) with respect to such corporation,
(B) each United States person—
(i) who acquires stock which, when added to any stock owned on the date of such acquisition, meets the stock ownership requirements of paragraph (2) with respect to a foreign corporation, or
(ii) who acquires stock which, without regard to stock owned on the date of such acquisition, meets the stock ownership requirements of paragraph (2) with respect to a foreign corporation,
(C) each person (not described in subparagraph (B)) who is treated as a United States shareholder under section 953(c) with respect to a foreign corporation, and
(D) each person who becomes a United States person while meeting the stock ownership requirements of paragraph (2) with respect to stock of a foreign corporation.
In the case of a foreign corporation with respect to which any person is treated as a United States shareholder under section 953(c), subparagraph (A) shall be treated as including a reference to each United States person who is an officer or director of such corporation.
(2) **Stock ownership requirements** — A person meets the stock ownership requirements of this paragraph with respect to any corporation if such person owns 10 percent or more of—
(A) the total combined voting power of all classes of stock of such corporation entitled to vote, or
(B) the total value of the stock of such corporation.
**(b) Form and contents of returns** The returns required by subsection (a) shall be in such form and shall set forth, in respect of the foreign corporation, such information as the Secretary prescribes by forms or regulations as necessary for carrying out the provisions of the income tax laws, except that in the case of persons described only in subsection (a)(1)(A) the information required shall be limited to the names and addresses of persons described in subparagraph (B) or (C) of subsection (a)(1).
**(c) Ownership of stock** For purposes of subsection (a), stock owned directly or indirectly by a person (including, in the case of an individual, stock owned by members of his family) shall be taken into account. For purposes of the preceding sentence, the family of an individual shall be considered as including only his brothers and sisters (whether by the whole or half blood), spouse, ancestors, and lineal descendants.
**(d) Time for filing** Any return required by subsection (a) shall be filed on or before the 90th day after the day on which, under any provision of subsection (a), the United States citizen, resident, or person becomes liable to file such return (or on or before such later day as the Secretary may by forms or regulations prescribe).
**(e) Limitation** No information shall be required to be furnished under this section with respect to any foreign corporation unless such information was required to be furnished under regulations which have been in effect for at least 90 days before the date on which the United States citizen, resident, or person becomes liable to file a return required under subsection (a).
**(f) Cross reference** For provisions relating to penalties for violations of this section, sections 6679 and 7203.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Married individuals filing joint returns and surviving spouses** There is hereby imposed on the taxable income of—
(1) every married individual (as defined in section 7703) who makes a single return jointly with his spouse under section 6013, and
(2) every surviving spouse (as defined in section 2(a)),
a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $36,90015% of taxable income. Over $36,900 but not over $89,150$5,535, plus 28% of the excess over $36,900. Over $89,150 but not over $140,000$20,165, plus 31% of the excess over $89,150. Over $140,000 but not over $250,000$35,928.50, plus 36% of the excess over $140,000. Over $250,000$75,528.50, plus 39.6% of the excess over $250,000.
**(b) Heads of households** There is hereby imposed on the taxable income of every head of a household (as defined in section 2(b)) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $29,60015% of taxable income. Over $29,600 but not over $76,400$4,440, plus 28% of the excess over $29,600. Over $76,400 but not over $127,500$17,544, plus 31% of the excess over $76,400. Over $127,500 but not over $250,000$33,385, plus 36% of the excess over $127,500. Over $250,000$77,485, plus 39.6% of the excess over $250,000.
**(c) Unmarried individuals (other than surviving spouses and heads of households)** There is hereby imposed on the taxable income of every individual (other than a surviving spouse as defined in section 2(a) or the head of a household as defined in section 2(b)) who is not a married individual (as defined in section 7703) a tax determined in accordance with the following table: If taxable income is:The tax is: Not over $22,10015% of taxable income. Over $22,100 but not over $53,50
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 1
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Notice of certain events**
(1) **General rule** — On or before the 90th day (or such later day as the Secretary may prescribe) after any reportable event, the responsible party shall provide written notice of such event to the Secretary in accordance with paragraph (2).
(2) **Contents of notice** — The notice required by paragraph (1) shall contain such information as the Secretary may prescribe, including—
(A) the amount of money or other property (if any) transferred to the trust in connection with the reportable event, and
(B) the identity of the trust and of each trustee and beneficiary (or class of beneficiaries) of the trust.
(3) **Reportable event** — For purposes of this subsection—
(A) *In general* — The term “reportable event” means—
(i) the creation of any foreign trust by a United States person,
(ii) the transfer of any money or property (directly or indirectly) to a foreign trust by a United States person, including a transfer by reason of death, and
(iii) the death of a citizen or resident of the United States if—
(I) the decedent was treated as the owner of any portion of a foreign trust under the rules of subpart E of part I of subchapter J of chapter 1, or
(II) any portion of a foreign trust was included in the gross estate of the decedent.
(B) *Exceptions*
(i) *Fair market value sales* — Subparagraph (A)(ii) shall not apply to any transfer of property to a trust in exchange for consideration of at least the fair market value of the transferred property. For purposes of the preceding sentence, consideration other than cash shall be taken into account at its fair market value and the rules of section 679(a)(3) shall apply.
(ii) *Deferred compensation and charitable trusts* — Subparagraph (A) sha
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6048
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Civil penalty**
(1) **In general** — In addition to any criminal penalty provided by law, any person required to file a return under section 6046 or 6046A who fails to file such return at the time provided in such section, or who files a return which does not show the information required pursuant to such section, shall pay a penalty of $10,000, unless it is shown that such failure is due to reasonable cause.
(2) **Increase in penalty where failure continues after notification** — If any failure described in paragraph (1) continues for more than 90 days after the day on which the Secretary mails notice of such failure to the United States person, such person shall pay a penalty (in addition to the amount required under paragraph (1)) of $10,000 for each 30-day period (or fraction thereof) during which such failure continues after the expiration of such 90-day period. The increase in any penalty under this paragraph shall not exceed $50,000.
**(b) Deficiency procedures not to apply** Subchapter B of chapter 63 (relating to deficiency procedure for income, estate, gift, and certain excise taxes) shall not apply in respect of the assessment or collection of any penalty imposed by subsection (a).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6679
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 3366
TITLE 26—INTERNAL REVENUE CODE
§ 6045B
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 fur-
nished, 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.
§ 6045B. Returns relating to actions affecting
basis of specified securities
(a) In general
According to the forms or regulations pre-
scribed by the Secretary, any issuer of a speci-
fied security shall make a return setting forth—
(1) a description of any organizational action
which affects the basis of such specified secu-
rity of such issuer,
(2) the quantitative effect on the basis of
such specified security resulting from such ac-
tion, and
(3) such other information as the Secretary
may prescribe.
(b) Time for filing return
Any return required by subsection (a) shall be
filed not later than the earlier of—
(1) 45 days after the date of the action de-
scribed in subsection (a), or
(2) January 15 of the year following the cal-
endar year during which such action occurred.
(c) Statements to be furnished to holders of spec-
ified securities or their nominees
According to the forms or regulations pre-
scribed by the Secretary, every person required
to make a return under subsection (a) with re-
spect to a sp
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 6046
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.