HR 2568 IHCommentsClose CommentsPermalink

112th CONGRESSCommentsClose CommentsPermalink

1st SessionCommentsClose CommentsPermalink

H. R. 2568CommentsClose CommentsPermalink

To prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.CommentsClose CommentsPermalink

IN THE HOUSE OF REPRESENTATIVESCommentsClose CommentsPermalink

July 15, 2011CommentsClose CommentsPermalink

Mr. POSEY (for himself, Mr. MEEKS, and Mr. DIAZ-BALART) introduced the following bill; which was referred to the Committee on Ways and MeansCommentsClose CommentsPermalink

A BILLCommentsClose CommentsPermalink

To prevent the Secretary of the Treasury from expanding United States bank reporting requirements with respect to interest on deposits paid to nonresident aliens.CommentsClose CommentsPermalink

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,CommentsClose CommentsPermalink

SECTION 1. PROHIBITION ON TREASURY REGULATIONS WITH RESPECT TO INFORMATION REPORTING ON CERTAIN INTEREST PAID TO NONRESIDENT ALIENS.

Except to the extent provided in Treasury Regulations as in effect on February 21, 2011, the Secretary of the Treasury shall not require (by regulation or otherwise) that an information return be made by a payor of interest in the case of interest--CommentsClose CommentsPermalink





(1) which is described in section 871(i)(2)(A) of the Internal Revenue Code of 1986, andCommentsClose CommentsPermalink





(2) which is paid--CommentsClose CommentsPermalink





(A) to a nonresident alien, andCommentsClose CommentsPermalink





(B) on a deposit maintained at an office within the United States.CommentsClose CommentsPermalink