INFORMATION REPORTING WITH RESPECT TO CERTAIN SELLER-PROVIDED FINANCING.

SEC. 1933. INFORMATION REPORTING WITH RESPECT TO CERTAIN SELLER-PROVIDED FINANCING. (a) General Rule.— Section 6109 (relating to identifying numbers) is amended by adding at the end thereof the following new subsection: “(h) Identifying Information Required With Respect to Certain Seller-Provided Financing.— “(1) Payor.— If any taxpayer claims a deduction under section 163 for qualified residence interest on any seller-provided financing, such taxpayer shall include on the return claiming such deduction the name, address, and TIN of the person to whom such interest is paid or accrued. “(2) Recipient.— If any person receives or accrues interest referred to in paragraph (1), such person shall include on the return for the taxable year in which such interest is so received or accrued the name, address, and TIN of the person liable for such interest. “(3) Furnishing of information between payor and recipient.— If any person is required to include the TIN of another person on a return under paragraph (1) or (2), such other person shall furnish his TIN to such person. “(4) Seller-provided financing.— For purposes of this subsection, the term ‘seller-provided financing’ means any indebtedness incurred in acquiring any residence if the person to whom such indebtedness is owed is the person from whom such residence was acquired.”. (b) Penalty.— Paragraph (3) of section 6724(d) (relating to specified information reporting requirement) is amended by striking “and” at the end of subparagraph (C), by striking the period at the end of subparagraph (D) and inserting and”, and by adding at the end thereof the following new subparagraph: “(E) any requirement under section 6109(f) that— “(i) a person include on his return the name, address, and TIN of another person, or “(ii) a person furnish his TIN to another person.” (c) Effective Date.— The amendments made by this section shall apply to taxable years beginning after December 31, 1991.