Page:United States Statutes at Large Volume 98 Part 1.djvu/1023

 PUBLIC LAW 98-369—JULY 18, 1984

98 STAT. 975

and Observers in the Sinai who died on February 15, 1984, shall be treated as if he were a civilian employee of the United States while he served as such Director General. (5) EFFECTIVE DATE.— 26 USC 692 note. (A) IN GENERAL.—The amendments made by this subsection shall take effect as if they were included in the amendments made by section 1 of Public Law 98-259. Ante, p. 142.

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(B) STATUTE OF LIMITATIONS WAIVED.—Notwithstanding

section 6511 of the Internal Revenue Code of 1954, the time for filing a claim for credit or refund of any overpayment of tax resulting from the amendments made by this subsection shall not expire before the date 1 year after the date of the enactment of this Act.

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(h) AMENDMENTS TO THE INTEREST AND DIVIDEND TAX COMPLIANCE

ACT OF 1983.— (1) BROKER NOTIFICATION OF PAYOR.—

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(A) Subparagraph (A) of section 3406(d)(2) (relating to 97 Stat. 371. special rules for readily tradable instruments) is amended— 26 USC 3406. (i) by inserting "the payor was notified by a broker under subparagraph (B) or" after "if (and only if)", and (ii) by striking out clause (i) and redesignating clauses (ii) and (iii) as clauses (i) and (ii). i ^0o Ofrj m (B) Subparagraph (B) of section 3406(d)(2) is amended to read as follows: ,J^M. t<; j^aiJ i. "(B) BROKER NOTIFIES PAYOR.—If—

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"(i) a payee acquires any readily tradable instrument through a broker, and "(ii) with respect to such acquisition— ..;ois;;8U:£ "(I) the payee fails to furnish his TIN to the broker in the manner required under subsection (a)(1)(A), "(II) the Secretary notifies such broker before such acquisition that the TIN furnished by the payee is incorrect, i^ "(III) the Secretary notifies such broker before such acquisition that such payee is subject to withholding under subsection (a)(1)(C), or "(IV) the payee does not provide a certification to '^^**^ such broker under subparagraph (C), such broker shall, within such period as the Secretary itc\-*:,i.' may prescribe by regulations (but not later than 15 .?iC' >'-•]:fc <i.i days after such acquisition), notify the payor that such payee is subject to withholding under subparagraph (A), (B), (C), or (D) of subsection (a)(1), respectively." n (2) NOTIFIED PAYEE UNDERREPORTING.—Paragraph (1) of section 3406(c) (relating to notified payee underreporting) is, amended by striking out "(but not the reasons therefor)" and inserting in lieu thereof "(but not the reasons for the withholding under subsection (a)(1)(C))". ^

(3) APPLICATION WITH TRUSTS.—Section 643 (relating to defini- Ante, p. 597.

tions applicable to trusts) is amended by adding at the end thereof the following new subsection: "(d) COORDINATION WITH BACK-UP WITHHOLDING.—Except to the

extent otherwise provided in regulations, this subchapter shall be applied with respect to payments subject to withholding under section 3406—

Supra.

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