INFORMATION REQUIRED WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS.

SEC. 7712. INFORMATION REQUIRED WITH RESPECT TO CERTAIN FOREIGN CORPORATIONS. (a) Clarification of Reporting Requirements Under Section 6038.— (1) Subsection (a) of section 6038 (relating to information with respect to certain foreign corporations) is amended by adding at the end thereof the following new paragraph: “(4) Information required from certain shareholders in certain cases.—If any foreign corporation is treated as a controlled foreign corporation for any purpose under subpart F of part III of subchapter N of chapter 1, the Secretary may require any United States person treated as a United States share-103 STAT. 2394holder of such corporation for any purpose under subpart F to furnish the information required under paragraph (1).” (2) Paragraph (1) of section 6038(a) is amended by inserting before the period at the end of the second sentence the following: “or which the Secretary determines to be appropriate to carry out the provisions of this title.” (b) Effective Date.—The amendments made by subsection (a) shall apply to returns and statements the due date for which (determined without regard to extensions) is after December 31, 1989.