110 STAT. 1906 PUBLIC LAW 104-188—AUG. 20, 1996 is treated as the owner of any portion of such trust or (ii) who receives (directly or indirectly) any distribution from the trust. " (2) TRUSTS NOT HAVING UNITED STATES AGENT.— "(A) IN GENERAL. — If the rules of this paragraph apply to any foreign trust, the determination of amounts required to be taken into account with respect to such trust by a United States person under the rules of subpart E of part I of subchapter J of chapter 1 shall be determined by the Secretary. "(B) UNITED STATES AGENT REQUIRED. —The rules of this paragraph shall apply to any foreign trust to which paragraph (1) applies unless such trust agrees (in such manner, subject to such conditions, and at such time as the Secretary shall prescribe) to authorize a United States person to act as such trust's limited agent solely for purposes of applying sections 7602, 7603, and 7604 with respect to— "(i) any request by the Secretary to examine records or produce testimony related to the proper treatment of amounts required to be taken into account under the rules referred to in subparagraph (A), or "(ii) any summons by the Secretary for such records or testimony. The appearance of persons or production of records by reason of a United States person being such an agent shall not subject such persons or records to legal process for any purpose other than determining the correct treatment under this title of the amounts required to be taken into account under the rules referred to in subparagraph (A). A foreign trust which appoints an agent described in this subparagraph shall not be considered to have an office or a permanent establishment in the United States, or to be engaged in a trade or business in the United States, solely because of the activities of such agent pursuant to this subsection. "(C) OTHER RULES TO APPLY.—Rules similar to the rules of paragraphs (2) and (4) of section 6038A(e) shall apply for purposes of this paragraph. " (c) REPORTING BY UNITED STATES BENEFICIARIES OF FOREIGN TRUSTS.— "(1) IN GENERAL. — If any United States person receives (directly or indirectly) during any taxable year of such person any distribution from a foreign trust, such person shall make a return with respect to such trust for such year which includes— "(A) the name of such trust, "(B) the aggregate amount of the distributions so received from such trust during such taxable year, and "(C) such other information as the Secretary may prescribe. "(2) INCLUSION IN INCOME IF RECORDS NOT PROVIDED. — "(A) IN GENERAL. — If adequate records are not provided to the Secretary to determine the proper treatment of any distribution from a foreign trust, such distribution shall be treated as an accumulation distribution includible in the gross income of the distributee under chapter 1. To
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