Section 6038

Information reporting with respect to certain foreign corporations and partnerships.

Section 6038. Code unannotated title 26. Section 1245 c of pub. Internal revenue code 6038.

86 780 as amended by pub. The amendments made by this section enacting section 6038c of this title and amending this section shall apply to 1 any requirement to furnish information under section 6038c a of the internal revenue code of 1986 as added by this section if the time for furnishing such information under such section is after the date of the. Penalties do not apply however to taxpayers that demonstrate reasonable cause as discussed in brad s previous post.

Taxpayers that late file foreign information returns including forms 5471 5472 3520 8938 8865 8858 926 and 8621 have large penalty exposure. The amendments made by subsection a enacting this section and amending section 902 of this title shall apply to taxable years of domestic corporations beginning after december 31 1960 with respect to information relating to a foreign corporation or a foreign subsidiary described in section 6038 a of the internal revenue code of 1986. The amendments made by this section amending this section and section 6038 of this title shall apply to taxable years beginning after december 31 1986.

6038 u s. The amendments made by subsection a enacting this section and amending section 902 of this title shall apply to taxable years of domestic corporations beginning after december 31 1960 with respect to information relating.