I.R.C. § 6043(a) Corporate Liquidating, Etc., Transactions
Every corporation shall—
I.R.C. § 6043(a)(1)
Within 30 days after the adoption by the corporation of a resolution or plan for
the dissolution of the corporation or for the liquidation of the whole or any part
of its capital stock, make a return setting forth the terms of such resolution or
plan and such other information as the Secretary shall by forms or regulations prescribe;
I.R.C. § 6043(a)(2)
When required by the Secretary, make a return regarding its distributions in liquidation,
stating the name and address of, the number and class of shares owned by, and the
amount paid to, each shareholder, or, if the distribution is in property other than
money, the fair market value (as of the date the distribution is made) of the property
distributed to each shareholder.
I.R.C. § 6043(b) Exempt Organizations
Every organization which for any of its last 5 taxable years preceding its liquidation,
dissolution, termination, or substantial contraction was exempt from taxation under
section 501(a) shall file such return and other information with respect to such liquidation, dissolution,
termination, or substantial contraction as the Secretary shall by forms or regulations
prescribe; except that—
I.R.C. § 6043(b)(1)
no return shall be required under this subsection from churches, their integrated
auxiliaries, conventions or associations of churches, or any organization which is
not a private foundation (as defined in section 509(a))
and the gross receipts of which in each taxable year are normally not more than $5,000,
I.R.C. § 6043(b)(2)
the Secretary may relieve any organization from such filing where he determines that
such filing is not necessary to the efficient administration of the internal revenue
laws or, with respect to an organization described in section 401(a), where the employer who
established such organization files such a return.
I.R.C. § 6043(c) Changes In Control And Recapitalizations
I.R.C. § 6043(c)(1)
control (as defined in section 304(c)(1)) of a corporation is acquired by any person (or group of persons) in a transaction
(or series of related transactions), or
I.R.C. § 6043(c)(2)
there is a recapitalization of a corporation or other substantial change in the capital
structure of a corporation, when required by the Secretary, such corporation shall
make a return
(at such time and in such manner as the Secretary may
prescribe) setting forth the identity of the parties to the transaction,
the fees involved, the changes in the capital structure involved, and such other
information as the Secretary may require with respect to such transaction.
I.R.C. § 6043(d) Cross References
For provisions relating to penalties for failure to file—
(Aug. 16, 1954, ch. 736, 68A Stat. 746; Dec. 30, 1969,
Pub. L. 91-172, title I, Sec. 101(j)(35), 83 Stat. 529; Oct. 4, 1976, Pub. L. 94-455,
title XIX, Sec. 1906(b)(13)(A), 90 Stat. 1834; Oct. 22, 1986, Pub. L. 99-514, title
XV, Sec. 1501(d)(1)(C), 100 Stat. 2740; Dec. 19, 1989, Pub. L. 101-239, title VII,
(3)(A), (B), 103 Stat. 2337, 2338; Aug. 20, 1996, Pub. L. 104-188, 1704, 110 Stat.
1996 - Pub. L. 104-188, Sec. 1704(t)(17), substituted a comma for the semicolon in the
1989 - Pub. L. 101-239, Sec. 7208(b)(3)(B), substituted “Liquidating; etc., transactions”
for “Returns regarding liquidation, dissolution, termination, or contraction” in section
Subsec. (a). Pub. L. 101-239, Sec. 7208(b)(3)(A), substituted “Corporate liquidating,
for “Corporations” in heading.
Subsecs. (c), (d). Pub. L. 101-239, Sec. 7208(b)(1), added subsecs. (c) and (d) and
struck out former subsec. (c) which read as follows: “Cross Reference. - For provisions
relating to penalties for failure to file a return required by subsection (b), see
1986 - Subsec. (c). Pub. L. 99-514 substituted “section 6652(c)” for “section 6652(d)”.
1976 - Pub. L. 94-455 struck out “or his delegate” after “Secretary” wherever appearing.
1969 - Pub. L. 91-172 inserted references to termination and contraction in section catchline,
designated existing provisions as subsec. (a), and added subsecs. (b) and (c).
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by Pub. L. 104-188 applicable on the date of the enactment of this Act [Enacted:
Aug. 20, 1996].
EFFECTIVE DATE OF 1989 AMENDMENT
Section 7208(b)(4) of Pub. L. 101-239 provided that: “The amendments made by this
subsection (amending this section and section 6652 of this title) shall apply to transactions
after March 31, 1990.”
EFFECTIVE DATE OF 1986 AMENDMENT
Amendment by 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.
EFFECTIVE DATE OF 1969 AMENDMENT
Amendment by Pub. L. 91-172 applicable to taxable years beginning after Dec. 31, 1969,
see section 101(k)(2)(B) of Pub. L. 91-172, set out as an Effective Date note under
section 4940 of this title.
ALLOWANCE OF ELECTRONIC 1099S
Sec. 401 of Pub. L. 107-147 provided that:
“Any person required to furnish a statement under any section of subpart B of part
III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 for any taxable
year ending after the date of the enactment of this Act, may electronically furnish
such statement (without regard to any first class mailing requirement)
to any recipient who has consented to the electronic provision of the statement in
a manner similar to the one permitted under regulations issued under section 6051
of such Code or in such other manner as provided by the Secretary.”