26 U.S.C. § 6690 — Fraudulent statement or failure to furnish statement to plan participant
submitted 52 years ago by Pub. L. 93-406 to r/title-26-INTERNAL-REVENUE-CODE · 86 words · no verdicts yet
A person required to give a plan participant a statement owes $50 for each willful false statement or willful failure to provide the required statement. The penalty is assessed and collected like the employer tax under section 3111.
A person required by section 6057(e) to give a participant a statement owes $50 for each willful act of giving a false or fraudulent statement, or each willful failure to give the statement in the required way, at the required time, and with the required information under that section or its regulations. The penalty is assessed and collected like the employer tax under section 3111.
Any person required under section 6057(e) to furnish a statement to a participant who willfully furnishes a false or fraudulent statement, or who willfully fails to furnish a statement in the manner, at the time, and showing the information required under section 6057(e), or regulations prescribed thereunder, shall for each such act, or for each such failure, be subject to a penalty under this subchapter of $50, which shall be assessed and collected in the same manner as the tax on employers imposed by section 3111.
Source credit: (Added Pub. L. 93–406, title II, § 1031(b)(2)(A), Sept. 2, 1974, 88 Stat. 946.)
- 1974Enacted · Pub. L. 93-406 · 88 Stat. 946
A history note hasn’t been published yet. The record shows enactment by Pub. L. 93-406 on 1974-09-02.
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