RETURNS REQUIRED IN CONNECTION WITH CERTAIN OPTIONS.

SEC. 403. RETURNS REQUIRED IN CONNECTION WITH CERTAIN OPTIONS.(a) In General.—So much of section 6039(a) as follows paragraph (2) is amended to read as follows:“shall, for such calendar year, make a return at such time and in such manner, and setting forth such information, as the Secretary may by regulations prescribe.”.(b) Statements to Persons With Respect to Whom Information Is Furnished.—Section 6039 is amended by redesignating 120 STAT. 2955 subsections (b) and (c) as subsections (c) and (d), respectively, and by inserting after subsection (a) the following new subsection:“(b) Statements To Be Furnished to Persons With Respect to Whom Information Is Reported.—Every corporation making a return under subsection (a) shall furnish to each person whose name is set forth in such return a written statement setting forth such information as the Secretary may by regulations prescribe. The written statement required under the preceding sentence shall be furnished to such person on or before January 31 of the year following the calendar year for which the return under subsection (a) was made.”.(c) Conforming Amendments.—(1) Section 6724(d)(1)(B) is amended by striking “or” at the end of clause (xvii), by striking “and” at the end of clause (xviii) and inserting “or”, and by adding at the end the following new clause:“(xix) section 6039(a) (relating to returns required with respect to certain options), and”.(2) Section 6724(d)(2)(B) is amended by striking “section 6039(a)” and inserting “section 6039(b)”.(3) The heading of section 6039 and the item relating to such section in the table of sections of subpart A of part III of subchapter A of chapter 61 of such Code are each amended by striking “Information” and inserting “Returns”.(4) The heading of subsection (a) of section 6039 is amended by striking “Furnishing of Information” and inserting “Requirement of Reporting”.(d) Effective Date.—The amendments made by this section shall apply to calendar years beginning after the date of the enactment of this Act.