Sec. 41117. TREATMENT OF FOREIGN PERSONS FOR RETURNS RELATING TO PAYMENTS MADE IN SETTLEMENT OF PAYMENT CARD AND THIRD PARTY NETWORK TRANSACTIONS

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## SEC. 41117 TREATMENT OF FOREIGN PERSONS FOR RETURNS RELATING TO PAYMENTS MADE IN SETTLEMENT OF PAYMENT CARD AND THIRD PARTY NETWORK TRANSACTIONS ###

(a)In General **[**[26 U.S.C. 6050W](/us/usc/t26/s6050W)**]** Section 6050W(d)(1)(B) is amended by adding at the end the following: “Notwithstanding the preceding sentence, a person with only a foreign address shall not be treated as a participating payee with respect to any payment settlement entity solely because such person receives payments from such payment settlement entity in dollars.”. ###

(b)Effective Date **[**[26 U.S.C. 6050W note](/us/usc/t26/s6050W)**]** The amendment made by this section shall apply to returns for calendar years beginning after December 31, 2017.

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26 USC 6050W

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Sec. 41117

TREATMENT OF FOREIGN PERSONS FOR RETURNS RELATING TO PAYMENTS MADE IN SETTLEMENT OF PAYMENT CARD AND THIRD PARTY NETWORK TRANSACTIONS

Cite26 USC 6050W

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