PUBLIC LAW 107-16-JUNE 7, 2001 115 STAT. 83 "(2) the information specified in such return with respect to property received by the person required to receive such statement. The written statement required under the preceding sentence shall Deadline. be furnished not later than 30 days after the date that the return required by subsection (a) is filed.". (3) TIME FOR FILING SECTION eois RETURNS.— (A) RETURNS RELATING TO LARGE TRANSFERS AT DEATH. —Subsection (a) of section 6075 is amended to read 26 USC 6075. as follows: " (a) RETURNS RELATING TO LARGE TRANSFERS AT DEATH.— The return required by section 6018 with respect to a decedent shall be filed with the return of the tax imposed by chapter 1 for the decedent's last taxable year or such later date specified in regulations prescribed by the Secretary.". (B) CONFORMING AMENDMENTS.— Paragraph (3) of section 6075(b) is amended— (i) by striking "ESTATE TAX RETURN" in the heading and inserting "SECTION 6018 RETURN", and (ii) by striking "(relating to estate tax returns)" and inserting "(relating to returns relating to large transfers at death)". (4) PENALTIES. — Part I of subchapter B of chapter 68 (relating to assessable penalties) is amended by adding at the end the following new section: "SEC. 6716. FAILURE TO FILE INFORMATION WITH RESPECT TO CER- TAIN TRANSFERS AT DEATH AND GIFTS. " (a) INFORMATION REQUIRED TO BE FURNISHED TO THE SEC- RETARY.—Any person required to furnish any information under section 6018 who fails to furnish such information on the date prescribed therefor (determined with regard to any extension of time for filing) shall pay a penalty of $10,000 ($500 in the case of information required to be furnished under section 6018(b)(2)) for each such failure. "(b) INFORMATION REQUIRED TO BE FURNISHED TO BENE- FICIARIES.— Any person required to furnish in writing to each person described in section 6018(e) or 6019(b) the information required under such section who fails to furnish such information shall pay a penalty of $50 for each such failure. "(c) REASONABLE CAUSE EXCEPTION. —No penalty shall be imposed under subsection (a) or (b) with respect to any failure if it is shown that such failure is due to reasonable cause. "(d) INTENTIONAL DISREGARD.— If any failure under subsection (a) or (b) is due to intentional disregard of the requirements under sections 6018 and 6019(b), the penalty under such subsection shall be 5 percent of the fair market value (as of the date of death or, in the case of section 6019(b), the date of the gift) of the property with respect to which the information is required. "(e) DEFICIENCY PROCEDURES NOT TO APPLY. —Subchapter B of chapter 63 (relating to deficiency procedures for income, estate, gift, and certain excise taxes) shall not apply in respect of the assessment or collection of any penalty imposed by this section.". (5) CLERICAL AMENDMENTS. —
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