---
kind: "section"
citation: "26 U.S.C. § 7001"
title: "26"
title_heading: "Internal Revenue Code"
number: "7001"
heading: "Collection of foreign items"
release: "119-102"
date: "2026-07-12"
url: "https://uscodex.org/usc/26/7001"
units:
  - "Subtitle F — Procedure and Administration"
  - "Chapter 72 — Licensing and Registration"
  - "Subchapter A — Licensing"
---

# §7001. Collection of foreign items

- (a) **License—** All [persons](/usc/26/7701.md?p=a-1) undertaking as a matter of business or for profit the collection of [foreign](/usc/26/7701.md?p=a-5) payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the [Secretary](/usc/26/7701.md?p=a-11-B) 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](/usc/26/7701.md?p=a-11-B) shall prescribe.
- (b) **Penalty for failure to obtain license—** For penalty for failure to obtain the license provided for in this section, see section 7231.

## Source credit

(Aug. 16, 1954, ch. 736, 68A Stat. 845; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)

## Notes

### Editorial Notes

### Amendments

1976—Subsec. (a). Pub. L. 94–455 struck out “or his delegate” after “Secretary” wherever appearing.