The fiduciary of an electing Settlement Trust (as defined in section
646(h)(1)) shall include with the return of income of the trust a statement containing the information required under subsection (c).
(b) Application with other requirements
The filing of any statement under this section shall be in lieu of the reporting requirements under section
6034A to furnish any statement to a beneficiary regarding amounts distributed to such beneficiary (and such other reporting rules as the Secretary deems appropriate).
(c) Required information
The information required under this subsection shall include—
(1)the amount of distributions made during the taxable year to each beneficiary,
(2)the treatment of such distribution under the applicable provision of section
646, including the amount that is excludable from the recipient beneficiary’s gross income under section
(3)the amount (if any) of any distribution during such year that is deemed to have been made by the sponsoring Native Corporation (as defined in section
(d) Sponsoring Native Corporation
(1) In general
The electing Settlement Trust shall, on or before the date on which the statement under subsection (a) is required to be filed, furnish such statement to the sponsoring Native Corporation (as so defined).
The sponsoring Native Corporation shall furnish each recipient of a distribution described in section
646(e)(3) a statement containing the amount deemed to have been distributed to such recipient by such corporation for the taxable year.
For termination of section by section 901 ofPub. L. 107–16, see Effective and Termination Dates note below.
Effective and Termination Dates
Section applicable to taxable years ending after June 7, 2001, and to contributions made to electing Settlement Trusts for such year or any subsequent year, see section 671(d) ofPub. L. 107–16, set out as a note under section
646 of this title.
Section inapplicable to taxable, plan, or limitation years beginning after Dec. 31, 2012, and the Internal Revenue Code of 1986 to be applied and administered to such years as if it had never been enacted, see section 901 ofPub. L. 107–16, set out as an Effective and Termination Dates of 2001 Amendment note under section
1 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.
Description of Change
Statutes at Large
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