Editorial Notes

Amendments

2021—Subsec. (c)(3). Pub. L. 117–2, § 9674(b), inserted “described in subsection (d)(3)(A)(iii)” after “any transaction”.

Subsec. (e). Pub. L. 117–2, § 9674(a), amended subsec. (e) generally. Prior to amendment, subsec. (e) related to an exception for de minimis payments by third party settlement organizations.

2018—Subsec. (d)(1)(B). Pub. L. 115–123 inserted at end “Notwithstanding the preceding sentence, a person with only a foreign address shall not be treated as a participating payee with respect to any payment settlement entity solely because such person receives payments from such payment settlement entity in dollars.”

Statutory Notes and Related Subsidiaries

Effective Date of 2021 Amendment

Pub. L. 117–2, title IX, § 9674(c), Mar. 11, 2021, 135 Stat. 185, provided that:

“(1)

In general.—

The amendment made by subsection (a) [amending this section] shall apply to returns for calendar years beginning after December 31, 2021.

“(2)

Clarification.—

The amendment made by subsection (b) [amending this section] shall apply to transactions after the date of the enactment of this Act [Mar. 11, 2021].”

Effective Date of 2018 Amendment

Pub. L. 115–123, div. D, title II, § 41117(b), Feb. 9, 2018, 132 Stat. 162, provided that: “The amendment made by this section [amending this section] shall apply to returns for calendar years beginning after December 31, 2017.”

Effective Date

Section applicable to returns for calendar years beginning after Dec. 31, 2010, with exception for purposes of carrying out any TIN matching program, see section 3091(e) of Pub. L. 110–289, set out as an Effective Date of 2008 Amendment note under section 3406 of this title.