26 U.S.C. § 6039H : US Code - Section 6039H: Information with respect to Alaska Native Settlement Trusts and sponsoring Native Corporations

Search 26 U.S.C. § 6039H : US Code - Section 6039H: Information with respect to Alaska Native Settlement Trusts and sponsoring Native Corporations

(a) Requirement
The fiduciary of an electing Settlement Trust (as defined in
section 646(h)(1)) shall include with the return of income of the
trust a statement containing the information required under
subsection (c).
(b) Application with other requirements
The filing of any statement under this section shall be in lieu
of the reporting requirements under section 6034A to furnish any
statement to a beneficiary regarding amounts distributed to such
beneficiary (and such other reporting rules as the Secretary deems
appropriate).
(c) Required information
The information required under this subsection shall include -
(1) the amount of distributions made during the taxable year to
each beneficiary,
(2) the treatment of such distribution under the applicable
provision of section 646, including the amount that is excludable
from the recipient beneficiary's gross income under section 646,
and
(3) the amount (if any) of any distribution during such year
that is deemed to have been made by the sponsoring Native
Corporation (as defined in section 646(h)(5)).
(d) Sponsoring Native Corporation
(1) In general
The electing Settlement Trust shall, on or before the date on
which the statement under subsection (a) is required to be filed,
furnish such statement to the sponsoring Native Corporation (as
so defined).
(2) Distributees
The sponsoring Native Corporation shall furnish each recipient
of a distribution described in section 646(e)(3) a statement
containing the amount deemed to have been distributed to such
recipient by such corporation for the taxable year.