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26 U.S.C. § 6705

Failure by broker to provide notice to payors

United States · Title 26 — INTERNAL REVENUE CODE · Status: effective

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26 U.S.C. § 6705, Failure by broker to provide notice to payors, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/464279
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Full text

Any person required under section 3406(d)(2)(B) to provide notice to any payor who willfully fails to provide such notice to such payor shall pay a penalty of $500 for each such failure. Any penalty imposed by this section shall be in addition to any other penalty provided by law.

Legislative history

The public laws that enacted or amended this section. Tallies are for the whole bill as it passed each chamber — often an omnibus covering far more than this provision — not a vote on this section alone.

  • Enacted byPub. L. 98-67(H.R. 2973)1983-08-05
    An act to promote economic revitalization and facilitate expansion of economic opportunities in the Caribbean Basin region, to provide for backup withholding of tax from interest and dividends, and for other purposes.
    House: no recorded tallySenate: no recorded tally