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Current as of January 01, 2024 | Updated by FindLaw Staff
Every bank (as defined in section 581) maintaining a common trust fund shall make a return for each taxable year, stating specifically, with respect to such fund, the items of gross income and the deductions allowed by subtitle A, and shall include in the return the names and addresses of the participants who would be entitled to share in the taxable income if distributed and the amount of the proportionate share of each participant. The return shall be executed in the same manner as a return made by a corporation pursuant to the requirements of sections 6012 and 6062.
Cite this article: FindLaw.com - 26 U.S.C. § 6032 - U.S. Code - Unannotated Title 26. Internal Revenue Code § 6032. Returns of banks with respect to common trust funds - last updated January 01, 2024 | https://codes.findlaw.com/us/title-26-internal-revenue-code/26-usc-sect-6032/
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