# 26 U.S.C. § 7001: Collection of foreign items

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s7001>. Cite pinpoints as 26 U.S.C. § 7001(a)(1).

## § 7001(a) License

All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the Secretary and shall be subject to such regulations enabling the Government to obtain the information required under subtitle A (relating to income taxes) as the Secretary shall prescribe.

## § 7001(b) Penalty for failure to obtain license

For penalty for failure to obtain the license provided for in this section, see section 7231.

## Regulations

- [Treas. Reg. § 301.7001-1](/26/reg/301.7001-1.md): License to collect foreign items. (interprets § 7001)

## Final rules

- [61 FR 58004](https://www.federalregister.gov/documents/1996/11/12/96-28404/deposits-of-excise-taxes) (1996): Deposits of Excise Taxes

## Connections

Cites: § 7231 Failure to obtain license for collection of foreign items

Cited by: § 7231 Failure to obtain license for collection of foreign items

Derived from: 1939 § 150

## Amendments

- 1954-08-16: [Act Aug. 16, 1954, ch. 736](/26/act/1954-ch736.md), 68A Stat. 845
- 1976-10-04: [Pub. L. 94-455](/26/act/94-455.md), 90 Stat. 1834