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Sec. 6031. Return Of Partnership Income

I.R.C. § 6031(a) General Rule
Every partnership (as defined in section 761(a)) shall make a return for each taxable year, stating specifically the items of its gross income and the deductions allowable by subtitle A, and such other information, for the purpose of carrying out the provisions of subtitle A as the Secretary may by forms and regulations prescribe, and shall include in the return the names and addresses of the individuals who would be entitled to share in the taxable income if distributed and the amount of the distributive share of each individual.
I.R.C. § 6031(b) Copies To Partners
Editor's Note: Sec. 6031(b), below, before amendment by Pub. L. 114-74, Sec. 1101, is effective with respect to returns filed for partnership taxable years beginning before January 1, 2018.
Each partnership required to file a return under subsection (a) for any partnership taxable year shall (on or before the day on which the return for such taxable year was required to be filed) furnish to each person who is a partner or who holds an interest in such partnership as a nominee for another person at any time during such taxable year a copy of such information required to be shown on such return as may be required by regulations. In the case of an electing large partnership (as defined in section 775), such information shall be furnished on or before the first March 15 following the close of such taxable year.
I.R.C. § 6031(b) Copies To Partners
Editor's Note: Sec. 6031(b), below, after amendment by Pub. L. 114-74, Sec. 1101, Pub. L. 114-113, Div. Q, Sec. 411(d), and Pub. L. 115-141, Div. U, Sec. 206(a), is effective with respect to returns filed for partnership taxable years beginning after December 31, 2017; however, Act Sec. 1101(g)(4) provides that partnerships may elect the amendments made by Act Sec. 1101 (other than the election under Code Sec. 6221(b)) to apply to any return of the partnership filed for partnership taxable years beginning after Nov. 2, 2015, and before Jan. 1, 2018.
Each partnership required to file a return under subsection (a) for any partnership taxable year shall (on or before the day on which the return for such taxable year was required to be filed) furnish to each person who is a partner or who holds an interest in such partnership as a nominee for another person at any time during such taxable year a copy of such information required to be shown on such return as may be required by regulations. Information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates, except—
I.R.C. § 6031(b)(1)
in the case of a partnership which has elected the application of section 6221(b) for the taxable year,
I.R.C. § 6031(b)(2)
as provided in the procedures under section 6225(c),
I.R.C. § 6031(b)(3)
with respect to statements under section 6226, or
I.R.C. § 6031(b)(4)
as otherwise provided by the Secretary.
I.R.C. § 6031(c) Nominee Reporting
Any person who holds an interest in a partnership as a nominee for another person—
I.R.C. § 6031(c)(1)
shall furnish to the partnership, in the manner prescribed by the Secretary, the name and address of such other person, and any other information for such taxable year as the Secretary may by form and regulation prescribe, and
I.R.C. § 6031(c)(2)
shall furnish in the manner prescribed by the Secretary such other person the information provided by such partnership under subsection (b).
I.R.C. § 6031(d) Separate Statement Of Items Of Unrelated Business Taxable Income
In the case of any partnership regularly carrying on a trade or business (within the meaning of section 512(c)(1)), the information required under subsection (b) to be furnished to its partners shall include such information as is necessary to enable each partner to compute its distributive share of partnership income or loss from such trade or business in accordance with section 512(a)(1), but without regard to the modifications described in paragraphs (8) through (15) of section 512(b).
I.R.C. § 6031(e) Foreign Partnerships
I.R.C. § 6031(e)(1) Exception For Foreign Partnership
Except as provided in paragraph (2), the preceding provisions of this section shall not apply to a foreign partnership.
I.R.C. § 6031(e)(2) Certain Foreign Partnerships Required To File Return
Except as provided in regulations prescribed by the Secretary, this section shall apply to a foreign partnership for any taxable year if for such year, such partnership has—
I.R.C. § 6031(e)(2)(A)
gross income derived from sources within the United States, or
I.R.C. § 6031(e)(2)(B)
gross income which is effectively connected with the conduct of a trade or business within the United States.
The Secretary may provide simplified filing procedures for foreign partnerships to which this section applies.
I.R.C. § 6031(f) Electing Investment Partnerships
In the case of any electing investment partnership (as defined in section 743(e)(6)), the information required under subsection (b) to be furnished to any partner to whom section 743(e)(2) applies shall include such information as is necessary to enable the partner to compute the amount of losses disallowed under section 743(e).
(Aug. 16, 1954, ch. 736, 68A Stat. 741; Oct. 4, 1976, Pub. L. 94-455, title XIX, 1906(b)(13)(A), 90 Stat. 1834; Sept. 3, 1982, Pub. L. 97-248, title IV, 403, 96 Stat. 669; Oct. 22, 1986, Pub. L. 99-514, title XV, 1501(c)(16), title XVIII, 1811(b)(1)(A), 100 Stat. 2740, 2832; Nov. 10, 1988, Pub. L. 100-647, title V, 5074(a), 102 Stat. 3682 ;Pub. L. 105-34, title XI, XII, Sec. 1141(a), 1223(a), Aug. 5, 1997, 111 Stat 788; Pub. L. 108-357, title VIII, Sec. 833(b)(4)(B), Oct. 22, 2004, 118 Stat. 1418; Pub. L. 114-74, title XI, Sec. 1101(e), (f)(1), Nov. 2, 2015; Pub. L. 114-113, Div. Q, title IV, Sec. 411(d), Dec. 18, 2015; Pub. L. 115-141, Div. U, title II, Sec. 206(a), Mar. 23, 2018, 132 Stat. 348.)
BACKGROUND NOTES
Amendments to Part
1980--Pub. L. 96-603, 1(e)(2), Dec. 28, 1980, 94 Stat. 3505, struck out item relating to subpart D “Information concerning private foundations”.
1976--Pub. L. 94-455, title XII, 1203(i)(1), Oct. 4, 1976, 90 Stat. 1694, added subpart F heading.
1974--Pub. L. 93-406, title II, 1031(c)(1), Sept. 2, 1974, 88 Stat. 946, added item relating to subpart E.
1969--Pub. L. 91-172, title I, 101(j)(64), Dec. 30, 1969, 82 Stat. 533, added item relating to subpart D.
Codification
Pub. L. 96-603, 1(e)(1), Dec. 28, 1980, 94 Stat. 3505, which directed that item 6034 be amended by substituting “4947(a)(2)” for “4947(a)”, could not be executed because item 6034 does not contain “4947(a)”.
Amendments to Subpart
1986--Pub. L. 99-514, title XII, 1234(a)(2), title XIII, 1303(c)(2), Oct. 22, 1986, 100 Stat. 2565, 2658, struck out item 6039B “Return of general stock ownership corporation”, and added item 6039E.
1984--Pub. L. 98-612, 1(b)(4), Oct. 31, 1984, 98 Stat. 3181, added item 6039D “Returns and records with respect to certain fringe benefit plans”.
Pub. L. 98-611, 1(d)(4), Oct. 31, 1984, 98 Stat. 3178, added item 6039D “Returns and records with respect to certain fringe benefit plans”.
Pub. L. 98-369, div. A, title I, 129(b)(2), 131(d)(3), title VII, 714(q)(4), July 18, 1984, 98 Stat. 660, 664, 966, added items 6034A and 6038B, and inserted “foreign persons holding direct investments in” in item 6039C.
1982--Pub. L. 97-354, 5(a)(39)(B), Oct. 19, 1982, 96 Stat. 1696, substituted “S corporation” for “electing small business corporation” in item 6037.
Pub. L. 97-248, title III, 339(b), Sept. 3, 1982, 96 Stat. 633, added item 6038A.
1980--Pub. L. 96-499, title XI, 1123(c), Dec. 5, 1980, 94 Stat. 2690, added item 6039C.
Pub. L. 96-223, title IV, 401(a), Apr. 2, 1980, 94 Stat. 299, repealed Pub. L. 94-455, 2005(a)(3), and the amendment made thereby. See 1976 Amendment note below.
1978--Pub. L. 95-600, title VI, 601(c)(2), Nov. 6, 1978, 92 Stat. 2897, added item 6039B.
1976--Pub. L. 94-455, title XX, 2005(e)(3), Oct. 4, 1976, 90 Stat. 1878, which added item 6039A, was repealed by Pub. L. 96-223, 401(a). See section 401(b), (e) of Pub. L. 96-223, set out as an Effective Date of 1980 Amendments and Revival of Prior Law note under section 1023 of this title.
1964--Pub. L. 88-272, title II, 221(d)(2), Feb. 26, 1964, 78 Stat. 75, added item 6039 and redesignated former item 6039 as 6040.
1960--Pub. L. 86-780, 6(b)(1), Sept. 14, 1960, 74 Stat. 1015, added item 6038 and redesignated former item 6038 as 6039.
1958--Pub. L. 85-866, title I, 64(d)(4), Sept. 2, 1958, 72 Stat. 1657, added item 6037 and redesignated former item 6037 as 6038.
AMENDMENTS
2018 - Subsec. (b). Pub. L. 115-141, Div. U, Sec. 206(a), amended the second sentence of subsec. (b). Before amendment, it read as follows:
“Except as provided in the procedures under section 6225(c), with respect to statements under section 6226, or as otherwise provided by the Secretary, information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates.”
2015 - Subsec. (b). Pub. L. 114-113, Sec. 411(d), amended subsec. (b) by substituting “Except as provided in the procedures under section 6225(c), with respect to statements under section 6226, or as otherwise provided by the Secretary, information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates.” for “Except as provided in the procedures under section 6225(c), with respect to statements under section 6226, or as otherwise provided by the Secretary, information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates.”
Subsec. (b). Pub. L. 114-74, Sec. 1101(e), added “Except as provided in the procedures under section 6225(c), with respect to statements under section 6226, or as otherwise provided by the Secretary, information required to be furnished by the partnership under this subsection may not be amended after the due date of the return under subsection (a) to which such information relates.” to the end of subsec. (b).
Subsec. (b). Pub. L. 114-74, Sec. 1101(f)(1), amended subsec. (b) by striking the last sentence. Before being struck, it read as follows:
“In the case of an electing large partnership (as defined in section 775), such information shall be furnished on or before the first March 15 following the close of such taxable year.”
2004 -- Subsec. (f). Pub. L. 108-357, Sec. 833 (b)(4)(B), added subsec. (f).
1997--Subsec. (b). Pub. L. 105-34, Sec. 1223(a), added a sentence at the end of subsec. (b).
Subsec. (e). Pub. L. 105-34, Sec. 1141(a), added subsec. (e).
1988--Subsec. (d). Pub. L. 100-647 added subsec. (d).
1986--Subsec. (b). Pub. L. 99-514, 1501(c)(16), substituted “was required to be filed” for “was filed” and “required to be shown on such return” for “shown on such return”.
Pub. L. 99-514, 1811(b)(1)(A)(i), inserted “or who holds an interest in such partnership as a nominee for another person” after “who is a partner”.
Subsec. (c). Pub. L. 99-514, 1811(b)(1)(A)(ii), added subsec. (c).
1982--Subsec. (a). Pub. L. 97-248, 403(b), designated existing provisions as subsec. (a) and added subsec. heading.
Subsec. (b). Pub. L. 97-248, 403(a), added subsec. (b).
1976--Pub. L. 94-455 struck out “or his delegate” after “Secretary”.
EFFECTIVE DATE OF 2018 AMENDMENT
Amendment by Pub. L. 115-141, Div. U, Sec. 206(a), effective as if included in Section 1101 of the Bipartisan Budget Act of 2015 [Pub. L. 114-74].
EFFECTIVE DATE OF 2015 AMENDMENTS
Amendment by Pub. L. 114-113, Div. Q, Sec. 411(d), effective as if included in section 1101 of the Bipartisan Budget Act of 2015 Pub. L. 114-74.
Pub. L. 114-74, Sec. 1101(g) provided:
“(g) EFFECTIVE DATE.—
“(1) IN GENERAL.— Except as otherwise provided in this subsection, the amendments made by this section shall apply to returns filed for partnership taxable years beginning after December 31, 2017.
“(2) ADMINISTRATIVE ADJUSTMENT REQUESTS.— In the case of administrative adjustment request under section 6227 of such Code, the amendments made by this section shall apply to requests with respect to returns filed for partnership taxable years beginning after December 31, 2017.
“(3) ADJUSTED PARTNERS STATEMENTS.— In the case of a partnership electing the application of section 6226 of such Code, the amendments made by this section shall apply to elections with respect to returns filed for partnership taxable years beginning after December 31, 2017.
“(4) ELECTION.— A partnership may elect (at such time and in such form and manner as the Secretary of the Treasury may prescribe) for the amendments made by this section (other than the election under section 6221(b) of such Code (as added by this Act)) to apply to any return of the partnership filed for partnership taxable years beginning after the date of the enactment of this Act [Enacted: Nov. 2, 2015] and before January 1, 2018.”
EFFECTIVE DATE OF 2004 AMENDMENTS
Amendment by Sec. 833(d)(2)(b)(A) of Pub. L. 108-357 provided that: “Except as provided in subparagraph (B), the amendments made by subsection (b) shall apply to transfers after the date of the enactment of this Act [Enacted: Oct. 22, 2004].” [Enacted: Oct. 22, 2004].
Sec. 833(d)(2)(B) of Pub. L. 108-357 provided: “TRANSITION RULE- In the case of an electing investment partnership which is in existence on June 4, 2004, section 743(e)(6)(H) of the Internal Revenue Code of 1986, as added by this section, shall not apply to such partnership and section 743(e)(6)(I) of such Code, as so added, shall be applied by substituting ‘”20 years” for “15 years” ”
EFFECTIVE DATE OF 1997 AMENDMENTS
Amendment by Sec. 1141(a) of Pub. L. 105-34 applicable to taxable years beginning after the date of the enactment of this Act [enacted: Aug. 5, 1997].
Amendment by Sec. 1223(a) of Pub. L. 105-34 applicable to partnership taxable years ending on or after December 31, 1997.
EFFECTIVE DATE OF 1988 AMENDMENT
Section 5074(b) of Pub. L. 100-647 provided that: “The amendment made by subsection (a) [amending this section] shall apply to taxable years beginning after December 31, 1988.”
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by section 1501(c)(16) of Pub. L. 99-514 applicable to returns the due date for which (determined without regard to extensions) is after Dec. 31, 1986, see section 1501(e) of Pub. L. 99-514, set out as an Effective Date note under section 6721 of this title.
Section 1811(b)(1)(B) of Pub. L. 99-514 provided that: “The amendments made by this subsection [amending sections 6031 and 6050K of this title] shall apply to partnership taxable years beginning after the date of the enactment of this Act [Oct. 22, 1986].”
EFFECTIVE DATE OF 1982 AMENDMENT
Amendment by Pub. L. 97-248 applicable to partnership taxable years beginning after Sept. 3, 1982, with provision for the applicability of the amendment to any partnership taxable year ending after Sept. 3, 1982, if the partnership, each partner, and each indirect partner requests such application and the Secretary of the Treasury or his delegate consents to such application, see section 407(a)(1), (3) of Pub. L. 97-248, set out as an Effective Date note under section 6221 of this title.
MODIFICATION OF PENALTY FOR FAILURE TO FILE PARTNERSHIP RETURNS
Section 2 of Pub. L. 110-141 provided that: “For any return of a partnership required to be filed under section 6031 of the Internal Revenue Codeof 1986 for a taxable year beginning in 2008, the dollar amount in effect under section 6698(b)(1) of such Code shall be increased by $1.”
RETURNS REQUIRED FROM ALL PARTNERSHIPS WITH UNITED STATES PARTNERS
Section 404 of Pub. L. 97-248, as amended by Pub. L. 99-514, 2, Oct. 22, 1986, 100 Stat. 2095, provided that: “Except as hereafter provided in regulations prescribed by the Secretary of the Treasury or his delegate, nothing in section 6031 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954] shall be treated as excluding any partnership from the filing requirements of such section for any taxable year if the income tax liability under subtitle A of such Code of any United States person is determined in whole or in part by taking into account (directly or indirectly) partnership items of such partnership for such taxable year.”
SPECIAL RULE FOR CERTAIN INTERNATIONAL SATELLITE PARTNERSHIPS
For provision that this section is not applicable to certain international satellite partnerships, see section 406 of Pub. L. 97-248, set out as a note under section 6231 of this title.