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26 U.S.C. § 6039H — Information with respect to Alaska Native Settlement Trusts and Native Corporations

Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6039H — Information with respect to Alaska Native Settlement Trusts and Native Corporations

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Source file: Laws/federal/codes/united-states-code/title-26/section-6039h-information-with-respect-to-alaska-native-settlement-trusts-and-native-c--523b679505.md
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Source location: Title 26, Chapter 61, § 6039H; chapter-061-information-and-returns.md

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**(a) Requirement** The fiduciary of an electing Settlement Trust (as defined in section 646(h)(1)) shall include with the return of income of the trust a statement containing the information required under subsection (c). **(b) Application with other requirements** The filing of any statement under this section shall be in lieu of the reporting requirements under section 6034A to furnish any statement to a beneficiary regarding amounts distributed to such beneficiary (and such other reporting rules as the Secretary deems appropriate). **(c) Required information** The information required under this subsection shall include— (1) the amount of distributions made during the taxable year to each beneficiary, (2) the treatment of such distribution under the applicable provision of section 646, including the amount that is excludable from the recipient beneficiary’s gross income under section 646, and (3) the amount (if any) of any distribution during such year that is deemed to have been made by the sponsoring Native Corporation (as defined in section 646(h)(5)). **(d) Sponsoring Native Corporation** (1) **In general** — The electing Settlement Trust shall, on or before the date on which the statement under subsection (a) is required to be filed, furnish such statement to the sponsoring Native Corporation (as so defined). (2) **Distributees** — The sponsoring Native Corporation shall furnish each recipient of a distribution described in section 646(e)(3) a statement containing the amount deemed to have been distributed to such recipient by such corporation for the taxable year. **(e) Deductible contributions by Native Corporations to Alaska Native Settlement Trusts** (1) **In general** — Any Native Corporation (as defined in subsection (m) of section 3 of the Alaska Native Claims Settlement Act ([43 U.S.C. 1602(m)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title43-section1602/m&num=0&edition=prelim))) which has made a contribution to a Settlement Trust (as defined in subsection (t) of such section) to which an election under subsection (e) of section 247 applies shall provide such Settlement Trust with a statement regarding such election not later than January 31 of the calendar year subsequent to the calendar year in which the contribution was made. (2) **Content of statement** — The statement described in paragraph (1) shall include— (A) the total amount of contributions to which the election under subsection (e) of section 247 applies, (B) for each contribution, whether such contribution was in cash, (C) for each contribution which consists of property other than cash, the date that such property was acquired by the Native Corporation and the adjusted basis and fair market value of such property on the date such property was contributed to the Settlement Trust, (D) the date on which each contribution was made to the Settlement Trust, and (E) such information as the Secretary determines to be necessary or appropriate for the identification of each contribution and the accurate inclusion of income relating to such contributions by the Settlement Trust.

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 646 — Tax treatment of electing Alaska Native Settlement Trusts

**(a) In general** If an election under this section is in effect with respect to any Settlement Trust, the provisions of this section shall apply in determining the income tax treatment of the Settlement Trust and its beneficiaries with respect to the Settlement Trust. **(b) Taxation of income of trust** Except as provided in subsection (f)(1)(B)(ii)— (1) **In general** — There is hereby imposed on the taxable income of an electing Settlement Trust, other than its net capital gain, a tax at the lowest rate specified in section 1(c).11 See References in Text note below. (2) **Capital gain** — In the case of an electing Settlement Trust with a net capital gain for the taxable year, a tax is hereby imposed on such gain at the rate of tax which would apply to such gain if the taxpayer were subject to a tax on its other taxable income at only the lowest rate specified in section 1(c). Any such tax shall be in lieu of the income tax otherwise imposed by this chapter on such income or gain. **(c) One-time election** (1) **In general** — A Settlement Trust may elect to have the provisions of this section apply to the trust and its beneficiaries. (2) **Time and method of election** — An election under paragraph (1) shall be made by the trustee of such trust— (A) on or before the due date (including extensions) for filing the Settlement Trust’s return of tax for the first taxable year of such trust ending after the date of the enactment of this section, and (B) by attaching to such return of tax a statement specifically providing for such election. (3) **Period election in effect** — Except as provided in subsection (f), an election under this subsection— (A) shall apply to the first taxable year described in paragraph (2)(A) and all subsequent taxable years, and

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Federal law — U.S. Code and appendices · legal_authorities

26 U.S.C. § 6039H — Information with respect to Alaska Na-

Page 3349 TITLE 26—INTERNAL REVENUE CODE § 6039H Notwithstanding any other provision of law, not later than 30 days after the close of each cal- endar quarter, the Secretary shall publish in the Federal Register the name of each individual losing United States citizenship (within the meaning of section 877(a) or 877A) with respect to whom the Secretary receives information under the preceding sentence during such quar- ter. (Added Pub. L. 104–191, title V, § 512(a), Aug. 21, 1996, 110 Stat. 2100, § 6039F; renumbered § 6039G, Pub. L. 105–34, title XVI, § 1602(h)(1), Aug. 5, 1997, 111 Stat. 1096; amended Pub. L. 108–357, title VIII, § 804(e), Oct. 22, 2004, 118 Stat. 1572; Pub. L. 110–245, title III, § 301(e), June 17, 2008, 122 Stat. 1646.) Editorial Notes REFERENCES IN TEXT Section 358 of the Immigration and Nationality Act, referred to in subsec. (d)(2), is classified to section 1501 of Title 8, Aliens and Nationality. AMENDMENTS 2008—Subsec. (a). Pub. L. 110–245, § 301(e)(1), inserted ‘‘or 877A’’ after ‘‘section 877(b)’’. Subsec. (d). Pub. L. 110–245, § 301(e)(2), inserted ‘‘or 877A’’ after ‘‘section 877(a)’’ in concluding provisions. 2004—Subsec. (a). Pub. L. 108–357, § 804(e)(1), reenacted heading without change and amended text of subsec. (a) generally. Prior to amendment, text read as follows: ‘‘Notwithstanding any other provision of law, any indi- vidual who loses United States citizenship (within the meaning of section 877(a)) shall provide a statement which includes the information described in subsection (b). Such statement shall be— ‘‘(1) provided not later than the earliest date of any act referred to in subsection (c), and ‘‘(2) provided to the person or court referred to in subsection (c) with respect to such act.’’ Subsec.

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Federal law — U.S. Code and appendices · legal_authorities

43 U.S.C. § 1602 — Definitions

For the purposes of this chapter, the term— **(a)** “Secretary” means the Secretary of the Interior; **(b)** “Native” means a citizen of the United States who is a person of one-fourth degree or more Alaska Indian (including Tsimshian Indians not enrolled in the Metlaktla 11 So in original. Probably should be “Metlakatla”. Indian Community) Eskimo, or Aleut blood, or combination thereof. The term includes any Native as so defined either or both of whose adoptive parents are not Natives. It also includes, in the absence of proof of a minimum blood quantum, any citizen of the United States who is regarded as an Alaska Native by the Native village or Native group of which he claims to be a member and whose father or mother is (or, if deceased, was) regarded as Native by any village or group. Any decision of the Secretary regarding eligibility for enrollment shall be final; **(c)** “Native village” means any tribe, band, clan, group, village, community, or association in Alaska listed in sections 1610 and 1615 of this title, or which meets the requirements of this chapter, and which the Secretary determines was, on the 1970 census enumeration date (as shown by the census or other evidence satisfactory to the Secretary, who shall make findings of fact in each instance), composed of twenty-five or more Natives; **(d)** “Native group” means any tribe, band, clan, village, community, or village association of Natives in Alaska composed of less than twenty-five Natives, who comprise a majority of the residents of the locality; **(e)** “Public lands” means all Federal lands and interests therein located in Alaska except: (1) the smallest practicable tract, as determined by the Secretary, enclosing land actually used in connection with the administration of any Federal instal

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Federal law — U.S. Code and appendices · legal_authorities

43 U.S.C. § 1602 — Definitions

Page 436 TITLE 43—PUBLIC LANDS § 1602 settlement of all aboriginal land and hunting and fishing claims by Natives and Native groups of Alas- ka with maximum participation by Natives in deci- sions affecting their rights and property; ‘‘(2) the settlement enabled Natives to participate in the subsequent expansion of Alaska’s economy, en- couraged efforts to address serious health and welfare problems in Native villages, and sparked a resurgence of interest in the cultural heritage of the Native peo- ples of Alaska; ‘‘(3) despite these achievements and Congress’s de- sire that the settlement be accomplished rapidly without litigation and in conformity with the real economic and social needs of Natives, the complexity of the land conveyance process and frequent and cost- ly litigation have delayed implementation of the set- tlement and diminished its value; ‘‘(4) Natives have differing opinions as to whether the Native Corporation, as originally structured by the Alaska Native Claims Settlement Act, is well adapted to the reality of life in Native villages and to the continuation of traditional Native cultural val- ues; ‘‘(5) to ensure the continued success of the settle- ment and to guarantee Natives continued participa- tion in decisions affecting their rights and property, the Alaska Native Claims Settlement Act must be amended to enable the shareholders of each Native Corporation to structure the further implementation of the settlement in light of their particular cir- cumstances and needs; ‘‘(6) among other things, the shareholders of each Native Corporation must be permitted to decide— ‘‘(A) when restrictions on alienation of stock issued as part of the settlement should be termi- nated, and ‘‘(B) whether Natives born after December 18, 1971,

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