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Title 26 — Internal Revenue CodeRelease 119-73

§6045A Information Required in Connection with Transfers of Covered Securities to Brokers

Title 26 › Subtitle Subtitle F— Procedure and Administration › Chapter 61— INFORMATION AND RETURNS › Subchapter A— Returns and Records › Part III— INFORMATION RETURNS › Subpart B— Information Concerning Transactions With Other Persons › § 6045A

Last updated Apr 6, 2026|Official source

Summary

When a broker or similar firm transfers a covered security to another broker, it must send that broker a written statement with the details the IRS requires, so the receiving broker can report cost basis correctly. The statement is generally due within 15 days of the transfer. Brokers must also file a return with the IRS when they move a digital asset out to an account or address that is not another broker's, outside of a sale; this digital asset rule applies to returns required to be filed after December 31, 2023.

Full Legal Text

Title 26, §6045A

Internal Revenue Code — Source: USLM XML via OLRC

(a)Every applicable person which transfers to a broker (as defined in section 6045(c)(1)) a covered security (as defined in section 6045(g)(3)) in the hands of such applicable person shall furnish to such broker a written statement in such manner and setting forth such information as the Secretary may by regulations prescribe for purposes of enabling such broker to meet the requirements of section 6045(g).
(b)For purposes of subsection (a), the term “applicable person” means—
(1)any broker (as defined in section 6045(c)(1)), and
(2)any other person as provided by the Secretary in regulations.
(c)Except as otherwise provided by the Secretary, any statement required by subsection (a) shall be furnished not later than 15 days after the date of the transfer described in such subsection.
(d)Any broker, with respect to any transfer (which is not part of a sale or exchange executed by such broker) during a calendar year of a covered security which is a digital asset from an account maintained by such broker to an account which is not maintained by, or an address not associated with, a person that such broker knows or has reason to know is also a broker, shall make a return for such calendar year, in such form as determined by the Secretary, showing the information otherwise required to be furnished with respect to transfers subject to subsection (a).

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2021—Subsec. (a). Pub. L. 117–58, § 80603(b)(2)(A)(i), struck out “a security which is” after “section 6045(c)(1))”. Subsec. (d). Pub. L. 117–58, § 80603(b)(2)(A)(ii), added subsec. (d).

Statutory Notes and Related Subsidiaries

Effective Date

of 2021 AmendmentAmendment by Pub. L. 117–58 applicable to returns required to be filed, and statements required to be furnished, after Dec. 31, 2023, see section 80603(c) of Pub. L. 117–58, set out as a note under section 6045 of this title.

Effective Date

Section effective Jan. 1, 2011, see section 403(e)(1) of Pub. L. 110–343, set out as an

Effective Date

of 2008 Amendment note under section 1012 of this title.

Reference

Citations & Metadata

Citation

26 U.S.C. § 6045A

Title 26 — Internal Revenue Code

Last Updated

Apr 6, 2026

Release point: 119-73