26 U.S.C. § 6043: Liquidating, etc., transactions

§ 1.6043-1 Return regarding corporate dissolution or liquidation.§ 1.6043-2 Return of information respecting distributions in liquidation.§ 1.6043-3 Return regarding liquidation, dissolution, termination, or substantial contraction of organizations exempt from taxation under section 501(a).§ 1.6043-4 Information returns relating to certain acquisitions of control and changes in capital structure.§ 301.6043-1 Returns regarding liquidation, dissolution, termination, or contraction.

Amended 1969, 1976, 1989, 1996

1996 Pub. L. 104-188 Pub. L. 104–188 substituted “Liquidating, etc., transactions” for “Liquidating; etc., transactions” in section catchline.
1989 Pub. L. 101-239 Pub. L. 101–239, § 7208(b)(3)(B), substituted “Liquidating; etc., transactions” for “Returns regarding liquidation, dissolution, termination, or contraction” in section catchline.
1976 Pub. L. 94-455 Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.
1969 Pub. L. 91-172 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).

Cases: Posey v. United States, 449 F.2d 228 (5th Cir. 1971)

Forms: Form 1099-CAP; Form 1096; Form 8806; Form 966

Final rules 6

(a) Corporate liquidating, etc., transactions Every corporation shall—

Amended 1989

1989 Pub. L. 101-239 Pub. L. 101–239, § 7208(b)(3)(A), substituted “Corporate liquidating, etc., transactions” for “Corporations” in heading.

Cited by 1

(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; and

(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.

Cited by 1

(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—

Cited by 6

(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, and

(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.

Amended 1986, 1989

1989 Pub. L. 101-239 Pub. L. 101–239, § 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 section 6652(c).”
1986 Pub. L. 99-514 Pub. L. 99–514 substituted “section 6652(c)” for “section 6652(d)”.

Cited by 2

(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

(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.

(d) Cross references For provisions relating to penalties for failure to file—

Amended 1989

1989 Pub. L. 101-239 Pub. L. 101–239, § 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 section 6652(c).”

(1) a return under subsection (b), see section 6652(c), or

(2) a return under subsection (c), see section 6652(1). [OLRC note: So in original. Probably should be section “6652(l).”]