Fabio
76b8ec33a7
Ingested titles 12–51 and 54 from OLRC USLM XML @119-100 (the whole Code now, uniform edition; Title 53 is reserved/empty). LegalText 11,221 -> 59,740; repo total 105,704 records. Deterministic (byte-identical rerun, verified on Title 42's 8,356 sections); make check green. make legal-us-code default now covers every title. Co-Authored-By: Claude Opus 4.8 <noreply@anthropic.com>
66 lines
3.9 KiB
Markdown
66 lines
3.9 KiB
Markdown
---
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type: "LegalText"
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title: "26 U.S.C. § 6704"
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description: "Failure to keep records necessary to meet reporting requirements under section 6047(d)"
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jurisdiction: "us"
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corpus: "united_states_code"
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kind: "code_section"
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title_number: 26
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title_name: "INTERNAL REVENUE CODE"
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chapter_number: "68"
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chapter_name: "ADDITIONS TO THE TAX, ADDITIONAL AMOUNTS, AND ASSESSABLE PENALTIES"
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section: "6704"
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citation: "26 U.S.C. § 6704"
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status: "current"
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release_point: "119-100"
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release_date: "2026-06-26"
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source: "official"
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source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip"
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source_identifier: "/us/usc/t26/s6704"
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source_file: "data/legal/raw/us/code/title-26/usc26.xml"
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source_hash: "d0eefa69dc98b093dbfdf416775f243d158be958ff296adadc0695b63d5c0097"
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raw_snapshot_hash: "a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4"
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text_hash: "161f3d12c0e01dffcd80a1044c220264c929a49f65c28b7eb5e43833ec3e31e3"
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retrieved_at: "2026-07-04"
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confidence: "official"
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tags: ["legal", "us-code"]
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---
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# 26 U.S.C. § 6704 - Failure to keep records necessary to meet reporting requirements under section 6047(d)
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## Text
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(a) Liability for penalty Any person who—
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(1) has a duty to report or may have a duty to report any information under section 6047(d), and
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(2) fails to keep such records as may be required by regulations prescribed under section 6047(d) for the purpose of providing the necessary data base for either current reporting or future reporting,
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shall pay a penalty for each calendar year for which there is any failure to keep such records.
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(b) Amount of penalty (1) In general The penalty of any person for any calendar year shall be $50, multiplied by the number of individuals with respect to whom such failure occurs in such year.
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(2) Maximum amount The penalty under this section of any person for any calendar year shall not exceed $50,000.
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(c) Exceptions (1) Reasonable cause No penalty shall be imposed by this section on any person for any failure which is shown to be due to reasonable cause and not to willful neglect.
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(2) Inability to correct previous failure No penalty shall be imposed by this section on any failure by a person if such failure is attributable to a prior failure which has been penalized under this section and with respect to which the person has made all reasonable efforts to correct the failure.
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(3) Pre-1983 failures No penalty shall be imposed by this section on any person for any failure which is attributable to a failure occurring before January 1, 1983, if the person has made all reasonable efforts to correct such pre-1983 failure.
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(Added Pub. L. 97–248, title III, § 334(c)(1), Sept. 3, 1982, 96 Stat. 627; amended Pub. L. 99–514, title XVIII, § 1848(e)(1), Oct. 22, 1986, 100 Stat. 2857.)
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## Notes
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Editorial Notes
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Amendments1986—Pub. L. 99–514 substituted “section 6047(d)” for “section 6047(e)” in section catchline and in subsec. (a).
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Statutory Notes and Related Subsidiaries
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Effective Date of 1986 AmendmentAmendment by Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section 48 of this title.
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Effective DateSection effective Jan. 1, 1985, see section 334(e)(3) of Pub. L. 97–248, set out as a note under section 3405 of this title.
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Plan Amendments Not Required Until January 1, 1989For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section 401 of this title.
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