118 STAT. 1574 PUBLIC LAW 108–357—OCT. 22, 2004 than in subsection (c)) to a shareholder shall be treated as a reference to the nominee. ‘‘(c) TAXABLE ACQUISITION.—For purposes of this section, the term ‘taxable acquisition’ means any acquisition by a corporation of stock in or property of another corporation if any shareholder of the acquired corporation is required to recognize gain (if any) as a result of such acquisition. ‘‘(d) STATEMENTS TO BE FURNISHED TO SHAREHOLDERS.— According to the forms or regulations prescribed by the Secretary, every person required to make a return under subsection (a) shall furnish to each shareholder whose name is required to be set forth in such return a written statement showing— ‘‘(1) the name, address, and phone number of the informa tion contact of the person required to make such return, ‘‘(2) the information required to be shown on such return with respect to such shareholder, and ‘‘(3) such other information as the Secretary may prescribe. The written statement required under the preceding sentence shall be furnished to the shareholder on or before January 31 of the year following the calendar year during which the taxable acquisi tion occurred.’’. (b) ASSESSABLE PENALTIES.— (1) Subparagraph (B) of section 6724(d)(1) (relating to definitions) is amended by redesignating clauses (ii) through (xviii) as clauses (iii) through (xix), respectively, and by inserting after clause (i) the following new clause: ‘‘(ii) section 6043A(a) (relating to returns relating to taxable mergers and acquisitions),’’. (2) Paragraph (2) of section 6724(d) is amended by redesig nating subparagraphs (F) through (BB) as subparagraphs (G) through (CC), respectively, and by inserting after subparagraph (E) the following new subparagraph: ‘‘(F) subsections (b) and (d) of section 6043A (relating to returns relating to taxable mergers and acquisitions).’’. (c) CLERICAL AMENDMENT.—The table of sections for subpart B of part III of subchapter A of chapter 61 is amended by inserting after the item relating to section 6043 the following new item: ‘‘Sec. 6043A. Returns relating to taxable mergers and acquisitions.’’. (d) EFFECTIVE DATE.—The amendments made by this section shall apply to acquisitions after the date of the enactment of this Act. SEC. 806. STUDIES. (a) TRANSFER PRICING RULES.—The Secretary of the Treasury or the Secretary’s delegate shall conduct a study regarding the effectiveness of current transfer pricing rules and compliance efforts in ensuring that cross border transfers and other related party transactions, particularly transactions involving intangible assets, service contracts, or leases cannot be used improperly to shift income out of the United States. The study shall include a review of the contemporaneous documentation and penalty rules under section 6662 of the Internal Revenue Code of 1986, a review of the regulatory and administrative guidance implementing the prin ciples of section 482 of such Code to transactions involving intan gible property and services and to cost sharing arrangements, and an examination of whether increased disclosure of cross border transactions should be required. The study shall set forth specific Deadlines. Reports. 26 USC 6043A note.
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