CHAPTER 68— ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES›Subchapter B— Assessable Penalties›PART I— GENERAL PROVISIONS

§ 6705. Failure by broker to provide notice to payors

26 U.S.C. Subtitle F — Procedure and Administration (Internal Revenue Code) · 2026 edition · updated 2026-10-03 · United States

(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, § 104(c)(1), Aug. 5, 1983, 97 Stat. 379.)

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▸Contents — 26 U.S.C. Subtitle F — Procedure and Administration (Internal Revenue Code)

26 U.S.C. Subtitle F — Procedure and Administration (Internal Revenue Code)

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