Treasury Regulations (26 C.F.R.)
26 CFR § 301.6693-1
Penalty for failure to provide reports and documents concerning individual retirement accounts or annuities.
# (a)
In general—(1) Annual reports, etc. The trustee of an individual retirement account described in section 408(a), or the issuer of an individual retirement annuity described in section 408(b), who fails to furnish or file a report or any other document required under section 408(i) and § 1.408-5 within the time and in the manner prescribed for furnishing or filing such item shall pay a penalty of $10 for each failure unless it is shown that such failure is due to reasonable cause.
(2) Disclosure statements. The trustee of an individual retirement account described in section 408(a), or the issuer of an individual retirement annuity described in section 408(b), who fails to furnish or file a disclosure statement, a governing instrument, an amendment to either, or any other document required under section 408(i) and § 1.408-6, within the time and in the manner prescribed for furnishing or filing such item, shall pay a penalty of $10 for each failure unless it is shown that such failure is due to reasonable cause.
# (b) Showing of reasonable cause.
The penalty imposed by section 6693 shall not apply to any person with respect to a failure to furnish or file a report, statement, or other document within the time and in the manner prescribed if it is established to the satisfaction of the district director that such failure was due to reasonable cause. An affirmative showing of reasonable cause must be made in the form of a written statement, containing a declaration by such person that it is made under the penalties of perjury and setting forth all the facts alleged to constitute reasonable cause.
# (c) Deficiency procedures not to apply.
The penalty imposed by section 6693 may be assessed and collected without regard to the deficiency procedures provided by subchapter B of chapter 63 of the Code.
# (d) Other penalties.
The penalties of section 6693 and this section are in lieu of any penalty imposed by section 6652(f) for violation of section 6047(d), with respect to any failure to furnish or file described in this section.
# (e) Effective date.
This section shall take effect on January 1, 1975.
[T.D. 7730, 45 FR 72652, Nov. 3, 1980]
Source: view the official text
In this part (40 sections)
- 301.6654-1 · Failure by individual to pay estimated income tax.
- 301.6655-1 · Failure by corporation to pay estimated income tax.
- 301.6656-1 · Abatement of penalty.
- 301.6657-1 · Bad checks.
- 301.6658-1 · Addition to tax in case of jeopardy.
- 301.6659-1 · Applicable rules.
- 301.6671-1 · Rules for application of assessable penalties.
- 301.6672-1 · Failure to collect and pay over tax, or attempt to evade…
- 301.6673-1 · Damages assessable for instituting proceedings before the…
- 301.6674-1 · Fraudulent statement or failure to furnish statement to…
- 301.6678-1 · Failure to furnish statements to payees.
- 301.6679-1 · Failure to file returns, etc. with respect to foreign…
- 301.6682-1 · False information with respect to withholding allowances…
- 301.6684-1 · Assessable penalties with respect to liability for tax…
- 301.6685-1 · Assessable penalties with respect to private foundations'…
- 301.6686-1 · Failure of DISC to file returns.
- 301.6688-1 · Assessable penalties with respect to information required…
- 301.6689-1 · Failure to file notice of redetermination of foreign…
- 301.6690-1 · Penalty for fraudulent statement or failure to furnish…
- 301.6692-1 · Failure to file actuarial report.
- 301.6693-1 · Penalty for failure to provide reports and documents…
- 301.6707-1 · Failure to furnish information regarding reportable…
- 301.6707A-1 · Failure to include on any return or statement any…
- 301.6708-1 · Failure to maintain lists of advisees with respect to…
- 301.6708-1T · Failure to maintain list of investors in potentially…
- 301.6712-1 · Failure to disclose treaty-based return positions.
- 301.6721-0 · Table of Contents.
- 301.6721-1 · Failure to file correct information returns.
- 301.6722-1 · Failure to furnish correct payee statements.
- 301.6723-1 · Failure to comply with other information reporting…
- 301.6724-1 · Reasonable cause.
- 301.6751(b)-1 · (b)-1 Supervisory and higher level official approval…
- 301.6801-1 · Authority for establishment, alteration, and distribution.
- 301.6802-1 · Supply and distribution.
- 301.6803-1 · Accounting and safeguarding.
- 301.6804-1 · Attachment and cancellation.
- 301.6805-1 · Redemption of stamps.
- 301.6806-1 · Posting occupational tax stamps.
- 301.6851-1 · Termination of taxable year.
- 301.6852-1 · Termination assessments of tax in the case of flagrant…