§ 1.6091-1 PLACE FOR FILING RETURNS OR OTHER DOCUMENTS. (b) Place for filing certain information returns. * (7) For the place for filing returns of information regarding payments of dividends, see paragraph (d) of §1.6042-1 and paragraph (c) of § 1.6042-2 (relating to returns for calendar years after 1962). (10) For the place for filing returns of information regarding payments of patronage dividends, see paragraph (b) of § 1.6044-1, and paragraph (d) of § 1.6044-2 (relating to returns for calendar years after 1962). ** # ** * * (12) For the place for filing information returns regarding certain payments of interest, see paragraph (c) of § 1.6049–1. PROCEDURE AND ADMINISTRATION (26 CFR Part 301) PAR. 17. Section 301.6652 is amended to read as follows: § 301.6652 STATUTORY PROVISIONS; FAILURE TO FILE CERTAIN INFORMATION RETURNS. SEC. 6652. FAILURE TO FILE CERTAIN INFORMATION RETURNS. (a) RETURNS RELATING TO PAYMENTS OF DIVIDENDS, INTEREST, AND PATRONAGE DIVIDENDS.-In the case of each failure to file a statement of the aggregate amount of payments to another person required by section 6042 (a) (1) (relating to payments of dividends aggregating $10 or more), section 6044 (a) (1) (relating to payments of patronage dividends aggregating $10 or more), or section 6049 (a) (1) (relating to payments of interest aggregating $10 or more), on the date prescribed therefor (determined with regard to any extension of time for filing), unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid (upon notice and demand by the Secretary or his delegate and in the same manner as tax), by the person failing to so file the statement, $10 for each such statement not so filed, but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $25,000. (b) OTHER RETURNS.-In the case of each failure to file a statement of a payment to another person required under authority of section 6041 (relating to certain information at source), section 6042(a)(2) (relating to payments of dividends aggregating less than $10), section 6044(a) (2) (relating to payments of patronage dividends aggregating less than $10), section 6049 (a)(2) (relating to payments of interest aggregating less than $10), section 6049 (a) (3) (relating to other payments of interest by corporations), or section 6051(d) (relating to information returns with respect to income tax withheld), on the date prescribed therefor (determined with regard to any extension of time for filing), unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid (upon notice and demand by the Secretary or his delegate and in the same manner as tax) by the person failing to so file the statement, $1 for each such statement not so filed, but the total amount imposed on the delinquent person for all such failures during the calendar year shall not exceed $1,000. (c) ALCOHOL AND TOBACCO TAXES.-For penalties for failure to file certain information returns with respect to alcohol and tobacco taxes, see, generally, subtitle E. [Sec. 6652 as amended by sec. 85, Technical Amendments Act 1958 (72 Stat. 1664) [P.L. 85-866, C.B. 1958-3, 254]; sec. 19(d), Revenue Act 1962 (76 Stat. 1057) [P.L. 87-834, C.B. 1962-3, 111]] PAR. 18. Section 301.6652-1, as amended by Treasury Decision 6585, approved December 27, 1961 [C.B. 1962-1, 290], is further amended to read as follows: § 301.6652-1 FAILURE TO FILE CERTAIN INFORMATION RETURNS.-(a) Returns with respect to payments made in calendar years after 1962.—(1) Payments of dividends, interest, or patronage dividends aggregating $10 or more.-In the case of each failure to file a statement required by— (i) Section 6042(a)(1), relating to information returns with respect to payments of dividends aggregating $10 or more in a calendar year, in effect with respect to payments made after December 31, 1962, (ii) Section 6044(a)(1), relating to information returns with respect to certain payments by cooperatives aggregating $10 or more in a calendar year, in effect with respect to payments made on or after the first day of the first taxable year of the cooperative beginning after December 31, 1962, with respect to patronage occurring on or after such first day, or (iii) Section 6049 (a) (1), relating to information returns with respect to payments of interest aggregating $10 or more in a calendar year, in effect with respect to payments made after December 31, 1962, and the regulations under such section, within the time prescribed for filing such statement (determined with regard to any extension of time for filing), there shall be paid by the person failing to so file the statement $10 for each such statement not so filed. However, the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $25,000. (2) Other payments.-In the case of each failure to file a statement of a payment made after December 31, 1962, to another person required under authority of (i) Section 6041, relating to information returns with respect to certain information at source, or (ii) Section 6051(d), relating to information returns with respect to payments of wages as defined in section 3401 (a), and the regulations under such section, within the time prescribed for filing such statement (determined with regard to any extension of time for filing), there shall be paid by the person failing to so file the statement $1 for each such statement not so filed. However, the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $1,000. (b) Returns with respect to payments made in calendar years before 1963 and to certain payments by cooperatives after 1962.-In the case of each failure to file a statement, with respect to a payment to another person, required under authority of— (1) Section 6041, relating to information returns with respect to certain information at source, in effect with respect to payments made before 1963, (2) Section 6042(1), relating to information returns with respect to payments of corporate dividends, in effect with respect to payments made before 1963, (3) Section 6044, relating to information returns with respect to payments of patronage dividends, in effect with respect to payments made by a cooperative with respect to patronage occurring before the first day of the first taxable year of the cooperative beginning after December 31, 1962, or (4) Section 6051 (d), relating to information returns with respect to payments of wages as defined in section 3401(a), in effect with respect to payments made before 1963. and the regulations under such section, within the time prescribed for filing such statement (determined with regard to any extension of time for filing), there shall be paid by the person failing to so file such statement $1 for each such statement not so filed. However, the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $1,000. (c) Manner of payment.-The penalty imposed under section 6652 and this section on any person shall be paid in the same manner as tax upon the issuance of a notice and demand therefor. (d) Showing of reasonable cause.-The penalty imposed by section 6652 shall not apply with respect to a failure to file a statement within the time prescribed if it is established to the satisfaction of the district director or the director of the regional service center that such failure was due to reasonable cause and not to willful neglect. An affirmative showing of reasonable cause must be made in the form of a written statement, containing a declaration that it is made under the penalties of perjury, setting forth all the facts alleged as a reasonable cause. (e) Alcohol and tobacco taxes. For penalties for failure to file certain information returns with respect to alcohol and tobacco taxes, see, generally, subtitle E of the Code. PAR. 19. The following regulations are prescribed under section 6678: § 301.6678 STATUTORY PROVISIONS; FAILURE TO FURNISH CERTAIN STATEMENTS. SEC. 6678. FAILURE TO FURNISH CERTAIN STATEMENTS. In the case of each failure to furnish a statement under section 6042 (c), 6044 (e), or 6049 (c) on the date prescribed therefor to a person with respect to whom a return has been made under section 6042 (a) (1), 6044(a) (1), or 6049(a) (1), respectively, unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid (upon notice and demand by the Secretary or his delegate and in the same manner as tax), by the person failing to so furnish the statement, $10 for each such statement not so furnished, but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $25,000. [Sec. 6678 as added by sec. 19 (e), Revenue Act 1962 (76 Stat. 1058)] § 301.6678-1 FAILURE TO FURNISH STATEMENTS TO PAYEES.—(a) In general.— In the case of each failure to furnish a statement required (1) Under section 6042 (c) and § 1.6042-4 to a person with respect to whom a return has been made under section 6042(a) (1), relating to information returns with respect to payments of dividends aggregating $10 or more in a calendar year, (2) Under section 6044 (e) and § 1.6044-5 to a person with respect to whom a return has been made under section 6044(a)(1), relating to information returns with respect to certain payments by cooperatives aggregating $10 or more in a calendar year, or (3) Under section 6049 (c) and § 1.6049-3 to a person with respect to whom a return has been made under section 6049 (a) (1), relating to information returns with respect to payments of interest aggregating $10 or more in a calendar year, within the time prescribed for furnishing such statement (determined with regard to any extension of time for furnishing), there shall be paid by the person failing to so furnish the statement $10 for each such statement not so furnished. However, the total amount imposed on the delinquent person for all such failures during a calendar year shall not exceed $25,000. (b) Manner of payment.-The penalty imposed under section 6678 and this section on any person shall be paid in the same manner as tax upon the issuance of a notice and demand therefor. (c) Showing of reasonable cause.-The penalty imposed by section 6678 shall not apply with respect to a failure to furnish a statement within the time prescribed if it is established to the satisfaction of the district director or the director of the regional service center that such failure was due to reasonable cause and not to willful neglect. An affirmative showing of reasonable cause must be made in the form of a written statement, containing a declaration that it is made under the penalties of perjury, setting forth all the facts alleged as a reasonable cause. (This Treasury Decision is issued under the authority contained in section 7805 of the Internal Revenue Code of 1954 (68A Stat. 917: 26 U.S.C. 7805).) Approved December 21, 1962. STANLEY S. SURREY, MORTIMER M. CAPLIN, Commissioner of Internal Revenue. Assistant Secretary of the Treasury. (Filed by the Division of the Federal Register on Dec. 27, 1962, 8:45 a.m., and published in the issue of the Federal Register for Dec. 28, 1962, 27 F.R. 12793) 5 CFR 1.6041-1: Return of information as to payments of $600 or more. Rules for the manufacture of substitutes for Form 1099, U.S. formation Return. See Rev. Proc. 63-12, page 500. 6 CFR 1.6041-5: Information as to actual owner. Private printing and use of substitutes for Form 1087, Nominee's nformation Return. See Rev. Proc. 63-17, page 505. SECTION 6042.-RETURNS REGARDING PAYMENTS OF DIVIDENDS AND CORPORATE EARNINGS AND PROFITS 26 CFR 1.6042: Statutory provisions; returns regarding payments of and profits. Amended regulations with respect to information returns as to payments of dividends, statements to recipients, and penalties for failure to do either. See T.D. 6628, page 272. 26 CFR 1.6042-2: Returns of information as to dividends paid in calendar years after 1962. Private printing and use of substitutes for Form 1087, Nominee's Information Return. See Rev. Proc. 63-17, page 505. SECTION 6044.-RETURNS REGARDING PAYMENTS OF PATRONAGE DIVIDENDS 26 CFR 1.6044: Statutory provisions; returns regarding payments of Amended regulations with respect to information returns as to payments of patronage dividends, statements to recipients, and penalties for failure to do either. See T.D. 6628, page 272. SECTION 6046.-RETURNS AS TO ORGANIZATION OR REORGANIZATION OF FOREIGN CORPORATIONS AND AS TO ACQUISITIONS OF THEIR STOCK 26 CFR 1.6046-1: Returns as to organization or reorganization of foreign corporations and as to acquisitions of their stock, on or after January 1, 1963. (Also Sections 957, 6038; 1.6038-2.) Rev. Rul. 63-116 1 The term "United States person" as used in sections 6038 and 6046 of the Internal Revenue Code of 1954, relating to returns of informa 'Based on Technical Information Release 467, dated April 19, 1963. 695-575°-63-20 tion with respect to certain foreign corporations, will be considered to have the meaning assigned to it under section 957 (d) of the Code. Section 957 (d) of the Code excludes from the definition of "United States person" certain residents of United States possessions. Therefore, an individual who qualifies under paragraph (1), (2), or (3) of section 957 (d) of the Code is excluded from the requirement of furnishing an information return under section 6038 of the Code on Form 2952 (Rev. Feb. 1962), Information Return By a Domestic Corporation With Respect to Controlled Foreign Corporations, and under section 6046 of the Code on Form 959 (Rev. Jan. 1963), United States Information Return With Respect to the Organization or Reorganization of a Foreign Corporation and Acquisition of its Stock. Any United States citizen or resident who is an officer or director of a foreign corporation described in paragraph (1), (2), or (3) of section 957 (d) of the Code will not be required to file a return under section 6046 (a) (1) of the Code with respect to such corporation, five percent or more in value of the stock of which is owned by a United States person, if, as of the date liability would otherwise arise to file such return, after applying the rule of the preceding paragraph, no United States person owning five percent or more in value of the stock of such foreign corporation is required to file a return with respect to such corporation under section 6046 (a) (2) or (3) of the Code. With respect to any liability to file a return under section 6046 of the Code arising on January 1, 1963, if three or fewer United States persons own on that date 95 percent or more in value of the outstanding stock of a foreign corporation and file a return or returns with respect to such corporation under section 6046 (a) (2) of the Code, a return will not be required with respect to such corporation under section 6046 (a) (1) of the Code from any United States citizen or resident who is an officer or director of such corporation. The reason for this construction is that the return of the United States person or persons discloses all of the information required of the officer or director. Conforming amendments to the Regulations are under considera tion. Each United States citizen or resident who became liable for the filing of Form 959 (Rev. Jan. 1963), U.S. Information Return With Respect to the Organization or Reorganization of a Foreign Corporation and Acquisition of its Stock, as of January 1, 1963, is granted an automatic extension of time to August 31, 1963, in which to file. See Rev. Proc. 63-6, page 485. SECTION 6048.-RETURNS AS TO CREATION OF OR 26 CFR 16.3: Statutory provisions; returns as to the creation of or transfers to certain foreign trusts. Temporary regulations relating to information returns disclosing the creation of or the transfer of money or property to a foreign trust. See T.D. 6632, page 465. |