26 U.S.C. § 7001

Current through P.L. 118-106 (published on www.congress.gov on 10/04/2024)

Section 7001 - Collection of foreign items

(a) License

All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the Secretary and shall be subject to such regulations enabling the Government to obtain the information required under subtitle A (relating to income taxes) as the Secretary shall prescribe.

(b) Penalty for failure to obtain license

For penalty for failure to obtain the license provided for in this section, see section 7231.

26 U.S.C. § 7001

Aug. 16, 1954, ch. 736, 68A Stat. 845; Pub. L. 94-455, title XIX, §1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.

EDITORIAL NOTES

AMENDMENTS1976-Subsec. (a). Pub. L. 94-455 struck out "or his delegate" after "Secretary" wherever appearing.

Secretary

The term "Secretary" means the Secretary of the Treasury or his delegate.