Sec. 4. Information reporting for deductible contributions to Alaska Native Settlement Trusts
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Section 6039H of the Internal Revenue Code of 1986 is amended— in the heading, by striking ; and sponsoring by adding at the end the following new subsection: Any Native Corporation (as defined in subsection
(m)of section 3 of the Alaska Native Claims Settlement Act ( 43 U.S.C. 1602(m) )) which has made a contribution to a Settlement Trust (as defined in subsection
(t)of such section) to which an election under subsection
(e)of section 250 applies shall provide such Settlement Trust with a statement regarding such election not later than January 31 of the calendar year subsequent to the calendar year in which the contribution was made. The statement described in paragraph
(1)shall include— the total amount of contributions to which the election under subsection
(e)of section 250 applies, for each contribution, whether such contribution was in cash, for each contribution which consists of property other than cash, the date that such property was acquired by the Native Corporation and the adjusted basis of such property on the date such property was contributed to the Settlement Trust, the date on which each contribution was made to the Settlement Trust, and such information as the Secretary determines to be necessary or appropriate for the identification of each contribution and the accurate reporting of income relating to such contributions by the Settlement Trust. . The item relating to section 6039H in the table of sections for subpart A of part III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended to read as follows: Sec. 6039H. Information With Respect to Alaska Native Settlement Trusts and Native Corporations. . The amendments made by this section shall apply to taxable years beginning after December 31, 2016.
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Sec. 4
Information reporting for deductible contributions to Alaska Native Settlement Trusts
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