§1471. Withholdable payments to foreign financial institutions — Inbound Citations
26 U.S.C. § 1471
Cited by 13 provisions in release 119-102.
Citations to 26 U.S.C. § 1471 as a whole
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(A) In the case of any tax properly deducted and withheld under section 1471 from a specified financial institution payment—(i) if the foreign financial institution referred to in subparagraph (B) with respect to such payment is entitled to a reduced rate of tax with respect to such payment by reason of any treaty obligation of the United States—(I) the amount of any credit or refund with respect to such tax shall not exceed the amount of credit or refund attributable to such reduction in rate, and(II) no interest shall be allowed or paid with respect to such credit or refund, and(ii) if such foreign financial institution is not so entitled, no credit or refund shall be allowed or paid with respect to such tax.
Citations to §1471(a)
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(e) Any tax deducted and withheld pursuant to an agreement described in section 1471(b) shall be treated for purposes of this title as a tax deducted and withheld by a withholding agent under section 1471(a).
Citations to §1471(b)
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(2) The identity of a foreign financial institution which meets the requirements of section 1471(b) shall not be treated as return information for purposes of section 6103.
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(e) Any tax deducted and withheld pursuant to an agreement described in section 1471(b) shall be treated for purposes of this title as a tax deducted and withheld by a withholding agent under section 1471(a).
Citations to §1471(d)(2)
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(1) any financial account (as defined in section 1471(d)(2)) maintained by a foreign financial institution (as defined in section 1471(d)(4)), and
Citations to §1471(d)(3)
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(3) No credit or refund shall be allowed or paid with respect to any tax properly deducted and withheld under this chapter unless the beneficial owner of the payment provides the Secretary such information as the Secretary may require to determine whether such beneficial owner is a United States owned foreign entity (as defined in section 1471(d)(3)) and the identity of any substantial United States owners of such entity.
Citations to §1471(d)(4)
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(1) any financial account (as defined in section 1471(d)(2)) maintained by a foreign financial institution (as defined in section 1471(d)(4)), and
Citations to §1471(d)(5)
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(d) For purposes of this section, the term “non-financial foreign entity” means any foreign entity which is not a financial institution (as defined in section 1471(d)(5)).
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(4) The numerical limitation under paragraph (2)(A) shall not apply to any return filed by a financial institution (as defined in section 1471(d)(5)) with respect to tax for which such institution is made liable under section 1461 or 1474(a).
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(2) any of the following assets which are not held in an account maintained by a financial institution (as defined in section 1471(d)(5))—(A) any stock or security issued by a person other than a United States person,(B) any financial instrument or contract held for investment that has an issuer or counterparty which is other than a United States person, and(C) any interest in a foreign entity (as defined in section 1473).
Citations to §1471(d)(5)(C)
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(B) In the case of any financial institution described in section 1471(d)(5)(C), clauses (i), (ii), and (iii) of subparagraph (A) shall be applied by substituting “0 percent” for “10 percent”.
Citations to §1471(e)(2)
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(B) any corporation which is a member of the same expanded affiliated group (as defined in section 1471(e)(2) without regard to the last sentence thereof) as a corporation described in subparagraph (A),
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(B) any corporation which is a member of the same expanded affiliated group (as defined in section 1471(e)(2) without regard to the last sentence thereof) as a corporation the stock of which is regularly traded on an established securities market,