Page:United States Statutes at Large Volume 98 Part 1.djvu/1011

 PUBLIC LAW 98-369—JULY 18, 1984 section 3402 as tax on the wages of any individual" and inserting in lieu thereof "as tax under chapter 24". (3) PENALTY FOR FAILURE TO GIVE NOTICE.—Section 6652 (relating to penalty for failure to file certain information returns, registration statements, etc.) is amended by redesignating subsection (i) as subsection (j) and by inserting after subsection (h) the following new subsection:

98 STAT. 963 ' '' 26 USC 6652.

"(i) FAILURE TO GIVE NOTICE TO RECIPIENTS OF CERTAIN PENSION,

ETC., DISTRIBUTIONS.—In the case of each failure to provide notice as required by section 3405(d)(10)(B), at the time prescribed therefor, unless it is shown that such failure is due to reasonable cause and not to willful neglect, there shall be paid, on notice and demand of the Secretary and in the same manner as tax, by the person failing to provide such notice, an amount equal to $10 for each such failure, but the total amount imposed on such person for all such failures during any calendar year shall not exceed $5,000."

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(4) EXCEPTION FOR AMOUNTS PAID TO NONRESIDENT ALIENS.—

Subparagraph (B) of section 3405(d)(1) (relating to exceptions) is amended by striking out "and" at the end of clause (i), by striking out the period at the end of clause (ii) and inserting in lieu thereof ", and", and by adding at the end thereof the following new clause: "(iii) any amount which is subject to withholding under subchapter A of chapter 3 (relating to withholding of tax on nonresident aliens and foreign corporations) by the person paying such amount or which „, would be so subject but for a tax treaty." (5) CLARIFICATION OF AMOUNT WITHHELD WHERE EMPLOYER SECURITY DISTRIBUTED.—Paragraph (8) of section 3405(d) (relat-

26 USC 3405. ^"^^' P- ^^lK

26 USC 1441. ^

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ing to maximum amount withheld) is amended by adding at the end thereof the following new sentence: "No amount shall be required to be withheld under this section in the case of any designated distribution which consists only of employer securities of the employer corporation (within the meaning of section 402(a)(3)) and cash (not in excess of $200) in lieu of fractional shares." (k) AMENDMENT RELATED TO SECTION 337.—Subsection (d) of section 982 (relating to admissibility of documentation maintained in 26 USC 982. foreign countries) is amended by striking out paragraph (3) and by redesignating paragraph (4) as paragraph (3). (1) AMENDMENT RELATED TO SECTION 339.—Paragraph (1) of section 6038A(c) (defining control) is amended by striking out "section 26 USC 6038A. 6038(d)(1)" and inserting in lieu thereof "section 6038(e)(1)". (m) AMENDMENT RELATED TO SECTION 345.—Subsection (b) of sec; tion 345 of the Tax Equity and Fiscal Responsibility Act of 1982 26 USC 6621 (relating to effective date) is amended by striking out "taking effect note. on" and inserting in lieu thereof "taking effect on or after".
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(n) AMENDMENTS RELATED TO SECTION 346.— (1) CLERICAL AMENDMENT.—Subparagraph (B) of section 346(c)(2) of the Tax Equity and Fiscal Responsibility Act of 1982 26 USC 6601. is amended to read as follows: "(B) Subparagraph (A) of section 6601(d)(2) is amended by striking out 'the last day of each place it appears and ., inserting in lieu thereof 'the filing date for'." (2) INTEREST ON REFUNDS CAUSED BY CARRYBACKS.—

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