Treasury Regulations (26 C.F.R.)
26 CFR § 1.6050P-0
Table of contents.
This section lists the major captions that appear in §§ 1.6050P-1 and 1.6050P-2.
(a) Reporting requirement.
(1) In general.
(2) No aggregation.
(3) Amounts not includible in income.
(4) Time and place for reporting.
(i) In general.
(ii) Indebtedness discharged in bankruptcy.
(b) Date of discharge.
(1) In general.
(2) Identifiable events.
(i) In general.
(ii) Statute of limitations.
(iii) Decision to discontinue collection activity; creditor's defined policy.
(iv) Expiration of non-payment testing period.
(v) Special rule for certain entities required to file in a year prior to 2008.
(3) Permitted reporting.
(c) Indebtedness.
(d) Exceptions from reporting requirement.
(1) Certain bankruptcy discharges.
(i) In general.
(ii) Business or investment debt.
(2) Interest.
(3) Non-principal amounts in lending transactions.
(4) Indebtedness of foreign persons held by foreign branches of U.S. financial institutions.
(i) Reporting requirements.
(ii) Definition.
(5) Acquisition of indebtedness by related party.
(6) Releases.
(7) Guarantors and sureties.
(e) Additional rules.
(1) Multiple debtors.
(i) In general.
(ii) Amount to be reported.
(2) Multiple creditors.
(i) In general.
(ii) Partnerships.
(iii) Pass-through securitized indebtedness arrangement.
(A) Reporting requirements.
(B) Definition.
(iv) REMICs.
(v) No double reporting.
(3) Coordination with reporting under section 6050J.
(4) Direct or indirect subsidiary.
(5) Entity formed or availed of to hold indebtedness.
(6) Use of magnetic media.
(7) TIN solicitation requirement.
(i) In general.
(ii) Manner of soliciting TIN.
(8) Recordkeeping requirements.
(9) No multiple reporting.
(f) Requirement to furnish statement.
(1) In general.
(2) Furnishing copy of Form 1099-C.
(3) Time and place for furnishing statement.
(g) Penalties.
(h) Effective/applicability date.
(a) In general.
(b) Safe harbors.
(1) Organizations not subject to section 6050P in the previous calendar year.
(2) Organizations that were subject to section 6050P in the previous calendar year.
(3) No test year.
(c) Seller financing.
(d) Gross income from lending of money.
(e) Acquisition of an indebtedness from a person other than the debtor included in lending money.
(f) Test year.
(g) Predecessor organization.
(h) Examples.
(i) Effective date.
[T.D. 8654, 61 FR 268, Jan. 4, 1996, as amended by T.D. 9160, 69 FR 62185, Oct. 25, 2004; T.D. 9430, 73 FR 66540, Nov. 10, 2008; T.D. 9461, 74 FR 47728, Sept. 17, 2009]
Source: view the official text
In this part (40 sections)
- 1.6049-9 · Premium subject to reporting for a debt instrument acquired…
- 1.6049-10 · Reporting of original issue discount on a tax-exempt…
- 1.6050A-1 · Reporting requirements of certain fishing boat operators.
- 1.6050B-1 · Information returns by person making unemployment…
- 1.6050D-1 · Information returns relating to energy grants and financing.
- 1.6050E-1 · Reporting of State and local income tax refunds.
- 1.6050H-0 · Table of contents.
- 1.6050H-1 · Information reporting of mortgage interest received in a…
- 1.6050H-2 · Time, form, and manner of reporting interest received on…
- 1.6050H-3 · Information reporting of mortgage insurance premiums.
- 1.6050I-0 · Table of contents.
- 1.6050I-1 · Returns relating to cash in excess of $10,000 received in a…
- 1.6050I-2 · Returns relating to cash in excess of $10,000 received as…
- 1.6050J-1T · Questions and answers concerning information returns…
- 1.6050K-1 · Returns relating to sales or exchanges of certain…
- 1.6050L-1 · Information return by donees relating to certain…
- 1.6050L-2 · Information returns by donees relating to qualified…
- 1.6050M-1 · Information returns relating to persons receiving contracts…
- 1.6050N-1 · Statements to recipients of royalties paid after December…
- 1.6050N-2 · Coordination with reporting rules for widely held fixed…
- 1.6050P-0 · Table of contents.
- 1.6050P-1 · Information reporting for discharges of indebtedness by…
- 1.6050P-2 · Organization a significant trade or business of which is…
- 1.6050S-0 · Table of contents.
- 1.6050S-1 · Information reporting for qualified tuition and related…
- 1.6050S-2 · Information reporting for payments and reimbursements or…
- 1.6050S-3 · Information reporting for payments of interest on qualified…
- 1.6050S-4 · Information reporting for payments of interest on qualified…
- 1.6050W-1 · Information reporting for payments made in settlement of…
- 1.6050W-2 · Electronic furnishing of information statements for…
- 1.6050X-1 · Information reporting for fines, penalties, and other…
- 1.6050Y-1 · Information reporting for reportable policy sales,…
- 1.6050Y-2 · Information reporting by acquirers for reportable policy…
- 1.6050Y-3 · Information reporting by 6050Y(b) issuers for reportable…
- 1.6050Y-4 · Information reporting by payors for reportable death…
- 1.6052-1 · Information returns regarding payment of wages in the form…
- 1.6052-2 · Statements to be furnished employees with respect to wages…
- 1.6055-1 · Information reporting for minimum essential coverage.
- 1.6055-2 · Electronic furnishing of statements.
- 1.6060-1 · Reporting requirements for tax return preparers.