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Title 26 — Internal Revenue CodeRelease 119-73

§6050R Returns relating to certain purchases of fish

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 › § 6050R

Last updated Apr 6, 2026|Official source

Summary

If you buy fish to resell and you pay someone who catches fish $600 or more in cash in a calendar year, you must file a report with the IRS. The report must use the IRS form and show each seller’s name, address, and tax ID, the total paid to that seller for the year, and the date and amount of each cash payment. The IRS can also ask for other information on the form. You must also give each seller a written notice that shows your contact information and the total amount you paid them that year. Cash is defined by section 6050I(d). “Fish” also covers other kinds of aquatic life.

Full Legal Text

Title 26, §6050R

Internal Revenue Code — Source: USLM XML via OLRC

(a)Every person—
(1)who is engaged in the trade or business of purchasing fish for resale from any person engaged in the trade or business of catching fish; and
(2)who makes payments in cash in the course of such trade or business to such a person of $600 or more during any calendar year for the purchase of fish,
(b)A return is described in this subsection if such return—
(1)is in such form as the Secretary may prescribe, and
(2)contains—
(A)the name, address, and TIN of each person to whom a payment described in subsection (a)(2) was made during the calendar year,
(B)the aggregate amount of such payments made to such person during such calendar year and the date and amount of each such payment, and
(C)such other information as the Secretary may require.
(c)Every person required to make a return under subsection (a) shall furnish to each person whose name is required to be set forth in such return a written statement showing—
(1)the name, address, and phone number of the information contact of the person required to make such a return, and
(2)the aggregate amount of payments to the person required to be shown on the return.
(d)For purposes of this section:
(1)The term “cash” has the meaning given such term by section 6050I(d).
(2)The term “fish” includes other forms of aquatic life.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

1998—Subsec. (b)(2)(A). Pub. L. 105–206 substituted a comma for the semicolon at end. 1997—Pub. L. 105–34, § 1601(a)(2), provided that amendment made by section 1116(b)(1) of Pub. L. 104–188, shall be applied as if reference to chapter 68 were a reference to chapter 61. section 1116(b)(1) of Pub. L. 104–188 directed amendment of subpart B of part III of subchapter A of chapter 68 by adding this section. Subsec. (c)(1). Pub. L. 105–34, § 1601(a)(1), substituted “name, address, and phone number of the information contact” for “name and address”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1997 AmendmentAmendment by Pub. L. 105–34 effective as if included in the provisions of the Small Business Job Protection Act of 1996, Pub. L. 104–188, to which it relates, see section 1601(j) of Pub. L. 105–34, set out as a note under section 23 of this title.

Effective Date

Pub. L. 104–188, title I, § 1116(b)(3), Aug. 20, 1996, 110 Stat. 1764, provided that: “The

Amendments

made by this subsection [enacting this section and amending section 6724 of this title] shall apply to payments made after December 31, 1997.”

Reference

Citations & Metadata

Citation

26 U.S.C. § 6050R

Title 26 — Internal Revenue Code

Last Updated

Apr 6, 2026

Release point: 119-73