Internal Revenue Code · 26 U.S.C.
§ 5354. Bond
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. § 5354
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Added
- September 2, 1958 by Pub. L. 85–859
- Last amended
- August 20, 1996 by Pub. L. 104–188
- Amendments
- 3 dated changes in the source credit
- Length
- 235 words · about 1 min to read
- Cross-references
- cites 1; cited by 2 Code sections and 0 other regulations
The bond for a bonded wine cellar shall be in such form, on such conditions, and with such adequate surety, as regulations issued by the Secretary shall prescribe, and shall be in a penal sum not less than the tax on any wine or distilled spirits possessed or in transit at any one time (taking into account the appropriate amount of credit with respect to such wine under section 5041(c)), but not less than $1,000 nor more than $50,000; except that where the tax on such wine and on such distilled spirits exceeds $250,000, the penal sum of the bond shall be not more than $100,000. Where additional liability arises as a result of deferral of payment of tax payable on any return, the Secretary may require the proprietor to file a supplemental bond in such amount as may be necessary to protect the revenue. The liability of any person on any such bond shall apply whether the transaction or operation on which the liability of the proprietor is based occurred on or off the proprietor’s premises.
(Added Pub. L. 85–859, title II, § 201, Sept. 2, 1958, 72 Stat. 1379; amended Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834; Pub. L. 98–369, div. A, title IV, § 455(c), July 18, 1984, 98 Stat. 823; Pub. L. 104–188, title I, § 1702(b)(7), Aug. 20, 1996, 110 Stat. 1869.)
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
This section cites 1 other section
Cited by 2 Code sections
Amendment history
From the source credit and the official notes, newest first.
- Amended by Pub. L. 104–188
- Amended by Pub. L. 98–369
- Amended by Pub. L. 94–455
- Added by Pub. L. 85–859
Where it sits in the Code
- Subtitle E Alcohol, Tobacco, and Certain Other Excise Taxes
- Chapter 51 DISTILLED SPIRITS, WINES, AND BEER
- Subchapter F Bonded and Taxpaid Wine Premises
- Part I ESTABLISHMENT
Nearby sections
Official notes
Show the Law Revision Counsel's notes (amendments, effective dates)
Editorial Notes
Prior Provisions
A prior section 5354, act Aug. 16, 1954, ch. 736, 68A Stat. 663, consisted of provisions similar to those comprising this section, prior to the general revision of this chapter by Pub. L. 85–859.
Amendments
1996—Pub. L. 104–188 inserted “(taking into account the appropriate amount of credit with respect to such wine under section 5041(c))” after “any one time”.
1984—Pub. L. 98–369 substituted “distilled spirits” for “wine spirits” in two places.
1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.
Statutory Notes and Related Subsidiaries
Effective Date of 1996 Amendment
Amendment by Pub. L. 104–188 effective, except as otherwise expressly provided, as if included in the provision of the Revenue Reconciliation Act of 1990, Pub. L. 101–508, title XI, to which such amendment relates, see section 1702(i) of Pub. L. 104–188, set out as a note under section 38 of this title.
Effective Date of 1984 Amendment
Amendment by Pub. L. 98–369 effective July 18, 1984, see section 456(c) of Pub. L. 98–369, set out as an Effective Date note under section 5101 of this title.