Title 26 — Internal Revenue CodeRelease 119-73
§6047 Information relating to certain trusts and annuity plans
Title 26 › Subtitle Subtitle F— - Procedure and Administration › Chapter CHAPTER 61— - INFORMATION AND RETURNS › Subchapter Subchapter A— - Returns and Records › Part PART III— - INFORMATION RETURNS › Subpart Subpart B— - Information Concerning Transactions With Other Persons › § 6047
Summary
Require trustees of tax-exempt 401(a) trusts and insurance companies or other issuers for 403(a) plans to file reports, keep records, identify contracts and accounts, and give information to the IRS when contributions were paid for an owner-employee (see section 401(c)(3)). It also covers any person for whom such owner-employee contributions were made. The IRS can extend these rules to payments under section 219 and to IRAs under sections 408(a) and 408(b). The IRS must also require reports from employers, plan administrators (see section 414(g)), and contract issuers about designated distributions (see section 3405(e)(1)). Employers or administrators of ESOPs with stock subject to section 404(k) must report dividends. Plan administrators of applicable retirement plans (see section 402A) must report designated Roth contributions. This does not cover information already required under section 6050Y. Penalties and criminal rules come from sections 6652(e), 6721, 6722, 7207, and 6704.
Full Legal Text
Title 26, §6047
Internal Revenue Code — Source: USLM XML via OLRC
(a)The trustee of a trust described in section 401(a) which is exempt from tax under section 501(a) to which contributions have been paid under a plan on behalf of any owner-employee (as defined in section 401(c)(3)), and each insurance company or other person which is the issuer of a contract purchased by such a trust, or purchased under a plan described in section 403(a), contributions for which have been paid on behalf of any owner-employee, shall file such returns (in such form and at such times), keep such records, make such identification of contracts and funds (and accounts within such funds), and supply such information, as the Secretary shall by forms or regulations prescribe.
(b)Every individual on whose behalf contributions have been paid as an owner-employee (as defined in section 401(c)(3))—
(1)to a trust described in section 401(a) which is exempt from tax under section 501(a), or
(2)to an insurance company or other person under a plan described in section 403(a),
(c)To the extent provided by regulations prescribed by the Secretary, the provisions of this section apply with respect to any payment described in section 219 and to transactions of any trust described in section 408(a) or under an individual retirement annuity described in section 408(b).
(d)(1)The Secretary shall by forms or regulations require that—
(A)the employer maintaining, or the plan administrator (within the meaning of section 414(g)) of, a plan from which designated distributions (as defined in section 3405(e)(1)) may be made, and
(B)any person issuing any contract under which designated distributions (as so defined) may be made,
(2)Such reports shall be in such form, made at such time, and contain such information as the Secretary may prescribe by forms or regulations.
(e)The Secretary shall require—
(1)any employer maintaining, or the plan administrator (within the meaning of section 414(g)) of, an employee stock ownership plan which holds stock with respect to which section 404(k) applies to dividends paid on such stock, or
(2)both such employer or plan administrator,
(f)The Secretary shall require the plan administrator of each applicable retirement plan (as defined in section 402A) to make such returns and reports regarding designated Roth contributions (as defined in section 402A) to the Secretary, participants and beneficiaries of the plan, and such other persons as the Secretary may prescribe.
(g)This section shall not apply to any information which is required to be reported under section 6050Y.
(h)(1)For provisions relating to penalties for failures to file returns and reports required under this section, see section 6652(e), 6721, and 6722.
(2)For criminal penalty for furnishing fraudulent information, see section 7207.
(3)For provisions relating to penalty for failure to comply with the provisions of subsection (d), see section 6704.
(4)For provisions requiring reporting of information relating to certain life insurance contract transactions, see section 6050Y.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
2017—Subsec. (g). Pub. L. 115–97, § 13520(c)(2)(B), added subsec. (g). Former subsec. (g) redesignated (h). Subsec. (h). Pub. L. 115–97, § 13520(c)(2)(A), redesignated subsec. (g) as (h). Subsec. (h)(4). Pub. L. 115–97, § 13520(c)(2)(C), added par. (4). Text was editorially conformed to match the style of pars. (1) to (3). 2001—Subsecs. (f), (g). Pub. L. 107–16 added subsec. (f) and redesignated former subsec. (f) as (g). 1996—Subsec. (d)(1). Pub. L. 104–188, § 1455(b)(2), inserted at end “No return or report may be required under the preceding sentence with respect to distributions to any person during any year unless such distributions aggregate $10 or more.” Subsec. (e)(1) to (3). Pub. L. 104–188, § 1602(b)(6), added pars. (1) and (2) and struck out former pars. (1) to (3) which read as follows: “(1) any employer maintaining, or the plan administrator (within the meaning of section 414(g)) of, an employee stock ownership plan— “(A) which acquired stock in a transaction to which section 133 applies, or “(B) which holds stock with respect to which section 404(k) applies to dividends paid on such stock, “(2) any person making or holding a loan to which section 133 applies, or “(3) both such employer or plan administrator and such person,”. Subsec. (f)(1). Pub. L. 104–188, § 1455(d)(1), amended par. (1) generally. Prior to amendment, par. (1) read as follows: “For provisions relating to penalties for failure to file a return required by this section, see section 6652(e).” 1992—Subsec. (d)(1)(A). Pub. L. 102–318, § 522(b)(2)(E), which directed the substitution of “section 3405(d)(3)” for “section 3405(d)(1)”, could not be executed because of the prior amendment by Pub. L. 102–318, § 522(b)(2)(D). See below. Pub. L. 102–318, § 522(b)(2)(D), substituted “3405(e)(1)” for “3405(d)(1)”. 1989—Subsecs. (e), (f). Pub. L. 101–239 added subsec. (e) and redesignated former subsec. (e) as (f). 1986—Subsec. (e)(1). Pub. L. 99–514, § 1501(d)(1)(D), substituted “section 6652(e)” for “section 6652(f)”. Subsec. (e)(3). Pub. L. 99–514, § 1848(e)(2), added par. (3). 1984—Pub. L. 98–369, § 491(d)(57), struck out “and bond purchase” after “trusts and annuity” in section catchline. Subsecs. (c) to (f). Pub. L. 98–369, § 491(d)(47), redesignated former subsecs. (d) to (f) as (c) to (e), respectively, and struck out former subsec. (c) which related to information to be supplied by employees under qualified bond purchase plans. 1983—Subsec. (d). Pub. L. 97–448 substituted “section 219” for “section 219(a)”. 1982—Subsecs. (e), (f). Pub. L. 97–248 added subsec. (e) and redesignated former subsec. (e) as (f). 1981—Subsec. (d). Pub. L. 97–34 substituted “section 219(a)” for “section 219(a) or 220(a)”. 1976—Subsecs. (a) to (d). Pub. L. 94–455, § 1906(b)(13)(A), struck out “or his delegate” after “Secretary” wherever appearing. Subsec. (d). Pub. L. 94–455, § 1501(b)(9), inserted “or 220(a)” after “section 219(a)”. 1974—Subsec. (d). Pub. L. 93–406, § 2002(g)(8), added subsec. (d). Former subsec. (d) redesignated (e). Subsec. (e). Pub. L. 93–406, §§ 1031(c)(3), 2002(g)(8), redesignated former subsec. (d) as (e), and inserted reference to section 6652(f) covering provisions relating to penalties for failure to file a return required by this section.
Statutory Notes and Related Subsidiaries
Effective Date
of 2017 Amendment Pub. L. 115–97, title I, § 13520(d), Dec. 22, 2017, 131 Stat. 2151, provided that: “The
Amendments
made by this section [enacting section 6050Y of this title and amending this section and section 6724 of this title] shall apply to— “(1) reportable policy sales (as defined in section 6050Y(d)(2) of the Internal Revenue Code of 1986 (as added by subsection (a)) after
December 31, 2017, and “(2) reportable death benefits (as defined in section 6050Y(d)(4) of such Code (as added by subsection (a)) paid after
December 31, 2017.”
Effective Date
of 2001 AmendmentAmendment by Pub. L. 107–16 applicable to taxable years beginning after Dec. 31, 2005, see section 617(f) of Pub. L. 107–16, set out as a note under section 402 of this title.
Effective Date
of 1996 AmendmentAmendment by section 1455(b)(2), (d)(1) of Pub. L. 104–188 applicable to returns, reports, and other statements the due date for which (determined without regard to extensions) is after Dec. 31, 1996, see section 1455(e) of Pub. L. 104–188, set out as a note under section 408 of this title. Amendment by section 1602(b)(6) of Pub. L. 104–188 applicable to loans made after Aug. 20, 1996, with exception and provisions relating to certain refinancings, see section 1602(c) of Pub. L. 104–188, set out as an
Effective Date
of Repeal note under former section 133 of this title.
Effective Date
of 1992 AmendmentAmendment by Pub. L. 102–318 applicable, except as otherwise provided, to distributions after Dec. 31, 1992, see section 522(d) of Pub. L. 102–318, set out as a note under section 401 of this title.
Effective Date
of 1989 AmendmentAmendment by Pub. L. 101–239, applicable, except as otherwise provided, to loans made after July 10, 1989, see section 7301(f) of Pub. L. 101–239, set out as a note under section 133 of this title.
Effective Date
of 1986 AmendmentAmendment by section 1501(d)(1)(D) of Pub. L. 99–514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99–514, set out as an
Effective Date
note under section 6721 of this title. Amendment by section 1848(e)(2) of Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
Effective Date
of 1984 AmendmentAmendment by Pub. L. 98–369 applicable to obligations issued after Dec. 31, 1983, see section 491(f)(1) of Pub. L. 98–369, set out as a note under section 62 of this title.
Effective Date
of 1983 AmendmentAmendment by Pub. L. 97–448 effective, except as otherwise provided, as if it had been included in the provision of the Economic Recovery Tax Act of 1981, Pub. L. 97–34, to which such amendment relates, see section 109 of Pub. L. 97–448, set out as a note under section 1 of this title.
Effective Date
of 1982 AmendmentAmendment by Pub. L. 97–248 effective Jan. 1, 1983, see section 334(e) of Pub. L. 97–248, set out as an
Effective Date
note under section 3405 of this title.
Effective Date
of 1981 AmendmentAmendment by Pub. L. 97–34 applicable to taxable years beginning after Dec. 31, 1981, see section 311(i)(1) of Pub. L. 97–34, set out as a note under section 219 of this title.
Effective Date
of 1976 AmendmentAmendment by section 1501(b)(9) of Pub. L. 94–455 applicable to taxable years beginning after Dec. 31, 1976, see section 1501(d) of Pub. L. 94–455, set out as a note under section 62 of this title.
Effective Date
of 1974 AmendmentAmendment by section 1031(c)(3) of Pub. L. 93–406 effective Sept. 2, 1974, see section 1034 of Pub. L. 93–406, set out as an
Effective Date
note under section 6057 of this title. Amendment by section 2002(g)(8) of Pub. L. 93–406 effective Jan. 1, 1975, see section 2002(i)(2) of Pub. L. 93–406, set out as an
Effective Date
note under section 4973 of this title.
Effective Date
Section applicable to taxable years beginning after Dec. 31, 1962, see section 8 of Pub. L. 87–792, set out as a note under section 22 of this title. Plan
Amendments
Not Required Until January 1, 1998For provisions directing that if any
Amendments
made by subtitle D [§§ 1401–1465] of title I of Pub. L. 104–188 require an amendment to any plan or annuity contract, such amendment shall not be required to be made before the first day of the first plan year beginning on or after Jan. 1, 1998, see section 1465 of Pub. L. 104–188, set out as a note under section 401 of this title. Plan
Amendments
Not Required Until January 1, 1994For provisions directing that if any
Amendments
made by subtitle B [§§ 521–523] of title V of Pub. L. 102–318 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1994, see section 523 of Pub. L. 102–318, set out as a note under section 401 of this title. Plan
Amendments
Not Required Until January 1, 1989For provisions directing that if any
Amendments
made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
Reference
Citations & Metadata
Citation
26 U.S.C. § 6047
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73