Treasury Regulations (26 C.F.R.)
26 CFR § 1.6031(b)-1T
Statements to partners (temporary).
# (a)
Statement required to be furnished to partners—(1) In general. Except as provided in this paragraph (a)(1) and paragraph (a)(2)(ii) of this section, any partnership required under section 6031(a) and the regulations thereunder to file a partnership return for a taxable year shall furnish to every person who was a partner (within the meaning of section 7701(a)(2)) at any time during the taxable year a written statement containing the information described in paragraph (a)(3) of this section. This section shall not apply to a real estate mortgage investment conduit (REMIC) treated as a partnership under subtitle F of the Code by reason of section 860F(e). For the reporting requirements applicable to REMICs see § 1.6031(b)-2T.
(2) Special rules applicable to partnership interests held by nominees—(i) Statements furnished to nominees. For any partnership taxable year beginning after October 22, 1986, a partnership shall provide a person that holds (directly or indirectly) an interest in such partnership as a nominee on behalf of another person at any time during such year with a statement under paragraph (a)(1) of this section with respect to such interest if—
(A) Such nominee has not furnished the statement required under § 1.6031(c)-1T(a)(1)(i) to the partnership with respect to such other person;
(B) Such nominee either holds legal title to such partnership interest in its own name or is identified in a statement provided to the partnership pursuant to § 1.6031(c)-1T(a)(1)(i) by another nominee as the person on whose behalf such other nominee holds such interest; and
(C) Such nominee is not a person described in § 1.6031(c)-1T(a)(2) (relating to the special rule for clearing agencies).
(ii) Statements not required to be furnished to partners holding partnership interests through nominees. A partnership shall not be required to furnish a statement under paragraph (a)(1) of this section to a partner with respect to any portion of such partner's interest in the partnership that is owned through a nominee if—
(A) Such nominee has not furnished (or is not required to furnish under § 1.6031(c)-1T(a)(2)), a statement to the partnership under § 1.6031(c)-1T(a)(1)(i) with respect to such partner; and
(B) Such partner has not furnished (or is not required to furnish) a statement to the partnership under § 1.6031(c)-1T(a)(3), with respect to such interest in the partnership.
(3) Contents of statement. The statement required under paragraph (a)(1) of this section shall include the following information:
(i) The partner's distributive share of partnership income, gain, loss, deduction, or credit required to be shown on the partnership return (or, for taxable years beginning before January 1, 1987, the partner's distributive share of partnership income, gain, loss, deduction, or credit shown on the partnership return); and
(ii) To the extent provided by form or the accompanying instructions, any additional information that may be required to apply particular provisions of subtitle A of the Code to the partner with respect to items related to the partnership.
# (b) Time for furnishing statement.
The statement required to be furnished by the partnership under paragraph (a)(1) of this section shall be furnished on or before the day on which the partnership return for that taxable year is required to be filed (determined with regard to extensions). For partnership returns the due date for which (determined without regard to extensions) is before January 1, 1987, the statement required to be furnished by the partnership under paragraph (a)(1) of this section shall be furnished on or before the day on which the partnership return is filed.
# (c) Statement may be provided to agent.
If a partner designates another person, such as an attorney or an investment advisor, as the partner's (or nominee's) agent in dealing with the partnership, the partnership may provide the statement required under paragraph (a)(1) of this section with respect to such partner to such other person instead of the partner.
# (d) Penalties.
For penalties for failure to comply with the requirements of section 6031(b) and paragraph (a) of this section, see section 6722(a).
# (e) Effective date.
Except as otherwise provided in this section, the provisions of this section apply to partnership taxable years beginning after September 3, 1982.
[T.D. 8225, 53 FR 34490, Sept. 7, 1988]
Source: view the official text
In this part (40 sections)
- 1.6013-6 · Election to treat nonresident alien individual as resident…
- 1.6013-7 · Joint return for year in which nonresident alien becomes…
- 1.6014-1 · Tax not computed by taxpayer for taxable years beginning…
- 1.6014-2 · Tax not computed by taxpayer for taxable years beginning…
- 1.6015-0 · Table of contents.
- 1.6015-1 · Relief from joint and several liability on a joint return.
- 1.6015-2 · Relief from liability applicable to all qualifying joint…
- 1.6015-3 · Allocation of deficiency for individuals who are no longer…
- 1.6015-4 · Equitable relief.
- 1.6015-5 · Time and manner for requesting relief.
- 1.6015-6 · Nonrequesting spouse's notice and opportunity to participate…
- 1.6015-7 · Tax Court review.
- 1.6015-8 · Applicable liabilities.
- 1.6015-9 · Effective date.
- 1.6016-1 · Declarations of estimated income tax by corporations.
- 1.6016-2 · Contents of declaration of estimated tax.
- 1.6016-3 · Amendment of declaration.
- 1.6016-4 · Short taxable year.
- 1.6017-1 · Self-employment tax returns.
- 1.6031(a)-1 · Return of partnership income.
- 1.6031(b)-1T · Statements to partners (temporary).
- 1.6031(b)-2T · REMIC reporting requirements (temporary). [Reserved]
- 1.6031(c)-1T · Nominee reporting of partnership information (temporary).
- 1.6031(c)-2T · Nominee reporting of REMIC information (temporary).…
- 1.6032-1 · Returns of banks with respect to common trust funds.
- 1.6033-1 · Returns by exempt organizations; taxable years beginning…
- 1.6033-2 · Returns by exempt organizations and returns by certain…
- 1.6033-3 · Additional provisions relating to private foundations.
- 1.6033-4 · Required filing in electronic form for returns by…
- 1.6033-5 · Disclosure by tax-exempt entities that are parties to…
- 1.6033-6 · Notification requirement for entities not required to file…
- 1.6034-1 · Information returns required of trusts described in section…
- 1.6035-0 · Table of contents.
- 1.6035-1 · Basis information to persons acquiring property from…
- 1.6035-2 · Transitional relief.
- 1.6036-1 · Notice of qualification as executor or receiver.
- 1.6037-1 · Return of electing small business corporation.
- 1.6037-2 · Required use of electronic form for income tax returns of…
- 1.6038-1 · Information returns required of domestic corporations with…
- 1.6038-2 · Information returns required of United States persons with…