26 U.S.C. § 6689

Current through P.L. 117-262 (published on www.congress.gov on 12/21/2022)
Section 6689 - Failure to file notice of redetermination of foreign tax
(a) Civil penalty

If the taxpayer fails to notify the Secretary (on or before the date prescribed by regulations for giving such notice) of a foreign tax redetermination, unless it is shown that such failure is due to reasonable cause and not due to willful neglect, there shall be added to the deficiency attributable to such redetermination an amount (not in excess of 25 percent of the deficiency) determined as follows-

(1) 5 percent of the deficiency if the failure is for not more than 1 month, with
(2) an additional 5 percent of the deficiency for each month (or fraction thereof) during which the failure continues.
(b) Foreign tax redetermination defined

For purposes of this section, the term "foreign tax redetermination" means any redetermination for which a notice is required under subsection (c) of section 905 or paragraph (2) of section 404A(g).

26 U.S.C. § 6689

Added Pub. L. 96-603, §2(c)(2), Dec. 28, 1980, 94 Stat. 3509.


PRIOR PROVISIONSA prior section 6689, added Pub. L. 93-17, §3(d)(2), Apr. 10, 1973, 87 Stat. 16, related to failure by certain foreign issuers and obligors to comply with United States investment equalization tax requirements, prior to repeal by Pub. L. 94-455, title XIX, §1904(b)(10)(E)(i), Oct. 4, 1976, 90 Stat. 1817.


EFFECTIVE DATEFor applicability of section with respect to employer contributions or accruals for taxable years beginning after Dec. 31, 1979, election to apply amendments retroactively with respect to foreign subsidiaries, allowance of prior deductions in case of certain funded branch plans, and time and manner for making elections, see section 2(e) of Pub. L. 96-603 set out as a note under section 404A of this title.

The term "Secretary" means the Secretary of the Treasury or his delegate.
The term "taxpayer" means any person subject to any internal revenue tax.