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Internal Revenue Code · 26 U.S.C.

§ 6050R. Returns relating to certain purchases of fish

In force Text current through Public Law 119-121 (October 9, 2026) release point 119-121

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. § 6050R

At a glance

Read from the text, the source credit and the official notes. Not part of the law.

Status
In force
Added
August 20, 1996 by Pub. L. 104–188
Last amended
July 22, 1998 by Pub. L. 105–206
Amendments
2 dated changes in the source credit
Length
4 subsections · 363 words · about 2 min to read
Defines
2 terms
Cross-references
cites 1; cited by 1 Code section and 2 other regulations
(a) Requirement of reporting Every person—
(1) who is engaged in the trade or business of purchasing fish for resale from any person engaged in the trade or business of catching fish; and
(2) who makes payments in cash in the course of such trade or business to such a person of $600 or more during any calendar year for the purchase of fish,
shall make a return (at such times as the Secretary may prescribe) described in subsection (b) with respect to each person to whom such a payment was made during such calendar year.
(b) Return A return is described in this subsection if such return—
(1) is in such form as the Secretary may prescribe, and
(2) contains—
(A) the name, address, and TIN of each person to whom a payment described in subsection (a)(2) was made during the calendar year,
(B) the aggregate amount of such payments made to such person during such calendar year and the date and amount of each such payment, and
(C) such other information as the Secretary may require.
(c) Statement to be furnished with respect to whom information is required Every person required to make a return under subsection (a) shall furnish to each person whose name is required to be set forth in such return a written statement showing—
(1) the name, address, and phone number of the information contact of the person required to make such a return, and
(2) the aggregate amount of payments to the person required to be shown on the return.
The written statement required under the preceding sentence shall be furnished to the person on or before January 31 of the year following the calendar year for which the return under subsection (a) is required to be made.
(d) Definitions For purposes of this section:
(1) Cash

The term “cash” has the meaning given such term by section 6050I(d).

(2) Fish

The term “fish” includes other forms of aquatic life.

(Added Pub. L. 104–188, title I, § 1116(b)(1), Aug. 20, 1996, 110 Stat. 1763; amended Pub. L. 105–34, title XVI, § 1601(a), Aug. 5, 1997, 111 Stat. 1086; Pub. L. 105–206, title VI, § 6023(21), July 22, 1998, 112 Stat. 826.)

Terms defined here

Where the text says “the term … means”. Select a term to jump to its definition.

Cross-references

Computed from the citations in the text of Title 26 and 26 CFR.

This section cites 1 other section

Cited by 1 Code section

Cited in 2 regulations not issued under it

Amendment history

From the source credit and the official notes, newest first.

  1. Amended by Pub. L. 105–206Parts changed in 1998: (b)(2)(A)
  2. Amended by Pub. L. 105–34Parts changed in 1997: (c)(1)
  3. Added by Pub. L. 104–188

Where it sits in the Code

  1. Subtitle F Procedure and Administration
  2. Chapter 61 INFORMATION AND RETURNS
  3. Subchapter A Returns and Records
  4. Part III INFORMATION RETURNS
  5. Subpart B Information Concerning Transactions With Other Persons

Nearby sections

Official notes

Show the Law Revision Counsel's notes (amendments, effective dates)

Editorial Notes

Amendments

1998—Subsec. (b)(2)(A). Pub. L. 105–206 substituted a comma for the semicolon at end.

1997—Pub. L. 105–34, § 1601(a)(2), provided that amendment made by section 1116(b)(1) of Pub. L. 104–188, shall be applied as if reference to chapter 68 were a reference to chapter 61. Section 1116(b)(1) of Pub. L. 104–188 directed amendment of subpart B of part III of subchapter A of chapter 68 by adding this section.

Subsec. (c)(1). Pub. L. 105–34, § 1601(a)(1), substituted “name, address, and phone number of the information contact” for “name and address”.

Statutory Notes and Related Subsidiaries

Effective Date of 1997 Amendment

Amendment by Pub. L. 105–34 effective as if included in the provisions of the Small Business Job Protection Act of 1996, Pub. L. 104–188, to which it relates, see section 1601(j) of Pub. L. 105–34, set out as a note under section 23 of this title.

Effective Date

Pub. L. 104–188, title I, § 1116(b)(3), Aug. 20, 1996, 110 Stat. 1764, provided that: “The amendments made by this subsection [enacting this section and amending section 6724 of this title] shall apply to payments made after December 31, 1997.”