
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC6683]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
  CHAPTER 68--ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE 
                                PENALTIES
 
                   Subchapter B--Assessable Penalties
 
                       PART I--GENERAL PROVISIONS
 
Sec. 6683. Failure of foreign corporation to file return of 
        personal holding company tax
        
    Any foreign corporation which--
        (1) is a personal holding company for any taxable year, and
        (2) fails to file or to cause to be filed with the Secretary a 
    true and accurate return of the tax imposed by section 541,

shall, in addition to other penalties provided by law, pay a penalty 
equal to 10 percent of the taxes imposed by chapter 1 (including the tax 
imposed by section 541) on such foreign corporation for such taxable 
year. No penalty shall be imposed under this section on any failure 
which is shown to be due to reasonable cause and not willful neglect.

(Added Pub. L. 89-809, title I, Sec. 104(h)(4)(A), Nov. 13, 1966, 80 
Stat. 1560; amended Pub. L. 94-455, title XIX, Sec. 1906(b)(13)(A), Oct. 
4, 1976, 90 Stat. 1834; Pub. L. 105-34, title XII, Sec. 1281(c), Aug. 5, 
1997, 111 Stat. 1037.)


                               Amendments

    1997--Pub. L. 105-34 inserted at end ``No penalty shall be imposed 
under this section on any failure which is shown to be due to reasonable 
cause and not willful neglect.''
    1976--Pub. L. 94-455 struck out ``or his delegate'' after 
``Secretary''.


                    Effective Date of 1997 Amendment

    Amendment by Pub. L. 105-34 applicable to taxable years beginning 
after Aug. 5, 1997, see section 1281(e) of Pub. L. 105-34, set out as a 
note under section 6652 of this title.


                             Effective Date

    Section applicable with respect to taxable years beginning after 
Dec. 31, 1966, see section 104(n) of Pub. L. 89-809, set out as an 
Effective Date of 1966 Amendment note under section 11 of this title.
