Title 26 — Internal Revenue CodeRelease 119-73
§7001 Collection of foreign items
Title 26 › Subtitle Subtitle F— - Procedure and Administration › Chapter CHAPTER 72— - LICENSING AND REGISTRATION › Subchapter Subchapter A— - Licensing › § 7001
Summary
Businesses that collect foreign interest or dividend payments using coupons, checks, or bills must get a license from the Secretary and provide income-tax information. Penalty: section 7231.
Full Legal Text
Title 26, §7001
Internal Revenue Code — Source: USLM XML via OLRC
(a)All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the Secretary and shall be subject to such regulations enabling the Government to obtain the information required under subtitle A (relating to income taxes) as the Secretary shall prescribe.
(b)For penalty for failure to obtain the license provided for in this section, see section 7231.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1976—Subsec. (a). Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.
Reference
Citations & Metadata
Citation
26 U.S.C. § 7001
Title 26 — Internal Revenue Code
Last Updated
Apr 6, 2026
Release point: 119-73