
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: 26USC6705]

 
                     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. 6705. Failure by broker to provide notice to payors


(a) In general

    Any person required under section 3406(d)(2)(B) to provide notice to 
any payor who willfully fails to provide such notice to such payor shall 
pay a penalty of $500 for each such failure.

(b) Penalty in addition to other penalties

    Any penalty imposed by this section shall be in addition to any 
other penalty provided by law.

(Added Pub. L. 98-67, title I, Sec. 104(c)(1), Aug. 5, 1983, 97 Stat. 
379.)


                             Effective Date

    Section effective with respect to payments made after Dec. 31, 1983, 
see section 110(a) of Pub. L. 98-67, set out as an Effective Date of 
1983 Amendment note under section 31 of this title.
