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Title 26, Internal Revenue CodeRelease 119-73

§6686 Failure to File Returns or Supply Information by Disc or Former Fsc

Title 26 › Subtitle Subtitle F— Procedure and Administration › Chapter 68— ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES › Subchapter B— Assessable Penalties › Part I— GENERAL PROVISIONS › § 6686

Last updated Apr 6, 2026|Official source

Summary

A DISC or former FSC that fails to supply required information or file a required return on time, or files a return missing required information, pays a penalty on top of any criminal penalty for willful failure. The penalty is $100 for each failure to supply information, capped at $25,000 per calendar year, and $1,000 for each failure to file a return. No penalty applies if the failure was due to reasonable cause.

Full Legal Text

Title 26, §6686

Internal Revenue Code, Source: USLM XML via OLRC

In addition to the penalty imposed by section 7203 (relating to willful failure to file return, supply information, or pay tax) any person required to supply information or to file a return under section 6011(c) who fails to supply such information or file such return at the time prescribed by the Secretary, or who files a return which does not show the information required, shall pay a penalty of $100 for each failure to supply information (but the total amount imposed on the delinquent person for all such failures during any calendar year shall not exceed $25,000) or a penalty of $1,000 for each failure to file a return, unless it is shown that such failure is due to reasonable cause.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2007—Pub. L. 110–172 inserted “former” before “FSC” in section catchline. 1984—Pub. L. 98–369 substituted “Failure to file returns or supply information by DISC or FSC” for “Failure of DISC to file returns” in section catchline, and in text substituted “section 6011(c)” for “section 6011(e)”. 1976—Pub. L. 94–455 struck out “or his delegate” after “Secretary”.

Statutory Notes and Related Subsidiaries

Effective Date

of 1984 AmendmentAmendment by Pub. L. 98–369 applicable to transactions after Dec. 31, 1984, in taxable years ending after such date, see section 805(a)(1) of Pub. L. 98–369, as amended, set out as a note under section 245 of this title.

Effective Date

Section applicable with respect to taxable years ending after Dec. 31, 1971, except that a corporation may not be a DISC for any taxable year beginning before Jan. 1, 1972, see section 507 of Pub. L. 92–178, set out as a note under section 991 of this title.

Reference

Citations & Metadata

Citation

26 U.S.C. § 6686

Title 26, Internal Revenue Code

Last Updated

Apr 6, 2026

Release point: 119-73