Internal Revenue Code · 26 U.S.C.
§ 4475. Imposition of tax
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 4475
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Added
- July 4, 2025 by Pub. L. 119–21
- Length
- 6 subsections · 450 words · about 2 min to read
- Defines
- 2 terms
- Cross-references
- cites 1; cited by 0 Code sections and 0 other regulations
There is hereby imposed on any remittance transfer a tax equal to 1 percent of the amount of such transfer.
The tax imposed by this section with respect to any remittance transfer shall be paid by the sender with respect to such transfer.
The remittance transfer provider with respect to any remittance transfer shall collect the amount of the tax imposed under subsection (a) with respect to such transfer from the sender and remit such tax quarterly to the Secretary at such time and in such manner as provided by the Secretary,11 So in original. The comma probably should be a period.
The tax imposed under subsection (a) shall apply only to any remittance transfer for which the sender provides cash, a money order, a cashier’s check, or any other similar physical instrument (as determined by the Secretary) to the remittance transfer provider.
The terms “remittance transfer”, “remittance transfer provider”, and “sender” shall each have the respective meanings given such terms by section 919(g) of the Electronic Fund Transfer Act (15 U.S.C. 1693o–1(g)).
The term “credit card” has the same meaning given such term under section 920(c)(3) of the Electronic Fund Transfer Act (15 U.S.C. 1693o–2(c)(3)).
The term “debit card” has the same meaning given such term under section 920(c)(2) of the Electronic Fund Transfer Act (15 U.S.C. 1693o–2(c)(2)), without regard to subparagraph (B) of such section.
For purposes of section 7701(l), with respect to any multiple-party arrangements involving the sender, a remittance transfer shall be treated as a financing transaction.
(Added Pub. L. 119–21, title VII, § 70604(a), July 4, 2025, 139 Stat. 285.)
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Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Amendment history
From the source credit and the official notes, newest first.
- Added by Pub. L. 119–21
Where it sits in the Code
Official notes
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Statutory Notes and Related Subsidiaries
Effective Date
Pub. L. 119–21, title VII, § 70604(c), July 4, 2025, 139 Stat. 286, provided that: “The amendments made by this section [enacting this subchapter] shall apply to transfers made after December 31, 2025.”