,i  #aaf? ,,congress  #b;d ,session  ,h4
 ,r4 #ehbe  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,febru>y #aj1         
#bjbj,mr4 ,neal introduc$ ! foll[+ bill2
 :i* 0 ref]r$ to ! ,committee on ,ways &
 ,means  ,a ,,bill  ,to am5d ! ,int]nal 
,rev5ue ,code ( #aihf to provide =      
report+ by c]ta9 inve/ors ) respect to  
c]ta9 specifi$ m$ical c>e provid]s4  #a4
 ,report+ by c]ta9 inve/ors ) respect to
 c]ta9 specifi$ m$ical c>e provid]s  7a7
 ,9 g5]al ,subp>t ,a ( "p ,,iii (       
sub*apt] ,a ( *apt] #fa ( ! ,int]nal    
,rev5ue ,code ( #aihf is am5d$ by ins]t+
 aft] section #fjci;,j ! foll[+ new     
section3  #fjci,k4 ,returns by c]ta9    
inve/ors ) respect to c]ta9 specifi$    
m$ical c>e provid]s  7a7 ,9 g5]al ,ea*  
report+ p]son ) respect to any specifi$ 
m$ical c>e provid] %all electronically  
file a sep>ate annual return ) respect  
to ea* su* m$ical c>e provid] :i*       
conta9s ! in=mation describ$ 9          
subsection 7b74  7b7 ,in=mation requir$ 
,) respect to ea* specifi$ m$ical c>e   

provid] ) respect to :i* ! p]son is a   
report+ p]son1 su* in=mation z !        
,secret>y may require relat+ to ea* ( ! 
foll[+3  7#a7 ,gross receipts  7,a7     
,am\nts receiv$ by ! specifi$ m$ical c>e
 provid] z reimbursem5t = any item or   
s]vice "u title ,,xviii ( ! ,social     
,security ,act4  7,b7 ,am\nts receiv$ by
 ! specifi$ m$ical c>e provid] z        
reimbursem5t = any item or s]vice       
receiv$ "u a ,/ate plan 7or waiv] ( su* 
plan7 "u title ,,xix ( ! ,social        
,security ,act4  7,c7 ,am\nts n describ$
 9 subp>agraph 7,a7 or 7,b7 receiv$ by !
 specifi$ m$ical c>e provid] pursuant to
 a negotiat$ rate ) respect to any      
provid] ( heal? insurance4  7,d7 ,am\nts
 receiv$ by ! specifi$ m$ical c>e       
provid] 9 ! sale (1 or o!r arrangem5t ) 
respect to1 any receivable aris+ 9      
connection ) ! provision ( m$ical c>e4  
7,e7 ,am\nts n describ$ 9 any prec$+    
subp>agraph ( ?is p>agraph :i* are      
receiv$ by ! specifi$ m$ical c>e provid]
 = ! provision ( m$ical c>e 7& a sep>ate

 /atem5t ( su* am\nts :i* are receiv$ f 
any provid] ( heal? insurance74  7,f7   
,gross receipts n describ$ 9 any prec$+ 
subp>agraph ( ?is p>agraph 7& divid$    
into su* categories z ! ,secret>y may   
provide74  7#b7 ,real e/ate  7,a7 ,!    
addresses ( all real e/ate own$ or leas$
 by ! specifi$ m$ical c>e provid]4  7,b7
 ,am\nts paid z pr9cipal or int]e/ by ! 
specifi$ m$ical c>e provid] on any debt 
:i* is secur$ by real e/ate 7& a sep>ate
 /atem5t ( su* am\nts :i* are paid to ! 
report+ p]son or any p]son relat$ to !  
report+ p]son74  7,c7 ,am\nts paid by ! 
specifi$ m$ical c>e provid] z r5t = real
 prop]ty 7& a sep>ate /atem5t ( su*     
am\nts :i* are paid to ! report+ p]son  
or any p]son relat$ to ! report+ p]son74
  7#c7 ,o!r paym5ts to relat$ p]sons    
7,a7 ,am\nts paid z pr9cipal or int]e/  
by ! specifi$ m$ical provid] on any debt
 n describ$ 9 p>agraph 7#b7 to ! report+
 p]son or any p]son relat$ to ! report+ 
p]son4  7,b7 ,am\nts paid by ! specifi$ 
m$ical c>e provid] z r5t = any prop]ty  

o!r ?an real prop]ty to ! report+ p]son 
or any p]son relat$ to ! report+ p]son4 
7,c7 ,am\nts n describ$ 9 subp>agraph   
7,a7 or 7,b7 paid by ! specifi$ m$ical  
c>e provid] to ! report+ p]son or any   
p]son relat$ to ! report+ p]son 7&      
divid$ into su* categories z ! ,secret>y
 may provide74  7#d7 ,o!r in=mation ,su*
 o!r in=mation z ! ,secret>y may        
reasonably require4  7c7 ,report+ p]son 
,= purposes ( ?is section--  7#a7 ,9    
g5]al ,! t]m report+ p]son means1 )     
respect to any specifi$ m$ical c>e      
provid]1 any p]son if-- 7,a7 su* p]son  
holds an int]e/ 9 su* specifi$ m$ical   
c>e provid]1  7,b7 su* p]son 7or any    
p]son relat$ to su* p]son7 controls su* 
specifi$ m$ical c>e provid]1 &  7,c7 su*
 p]son 7or any p]son relat$ to su*      
p]son7 ei!r-- 7i7 is engag$ 9 an        
applicable trade or bus9ess ) respect to
 :i* any int]e/ 9 su* specifi$ m$ical   
c>e provid] is1 directly or indirectly1 
an exp&$ specifi$ asset1 or  7ii7       
receives any s]vice f any p]son engag$ 9

 an applicable trade or bus9ess describ$
 9 clause 7i74  7#b7 ,applicable        
p>tn]%ip int]e/ requirem5t  7,a7 ,9     
g5]al ,a p]son %all n be treat$ z a     
report+ p]son ) respect to any specifi$ 
m$ical c>e provid] unless "o or m p]sons
 receive or hold an applicable p>tn]%ip 
int]e/ ) respect to ! applicable trade  
or bus9ess :i* is ref]r$ to 9 p>agraph  
7#a77;,c7 ) respect to su* specifi$     
m$ical c>e provid]4  7,b7 ,applicable   
p>tn]%ip int]e/ ,! t]m applicable       
p>tn]%ip int]e/ has ! mean+ :i* w\ld be 
giv5 su* t]m by section #ajfa7;c7 if !  
t]m applicable trade or bus9ess _h !    
mean+ giv5 su* t]m by p>agraph 7#c7 =   
purposes ( su* section4  7#c7           
,applicable trade or bus9ess ,! t]m     
applicable trade or bus9ess has ! mean+ 
:i* w\ld be giv5 su* t]m by section     
#ajfa7;c77#b7 if su* section 7 appli$ by
 sub/itut+ exp&$ specifi$ assets =      
specifi$ assets ea* place x appe>s !re94
  7#d7 ,exp&$ specifi$ assets ,! t]m    
exp&$ specifi$ asset means any specifi$ 

asset 7z def9$ 9 section #ajfa7;c77#c77 
& any int]e/ 9 a p>tn]%ip4  7#e7        
,control ,= purposes ( p>agraph         
7#a77;,b7--  7,a7 except z provid$ 9    
subp>agraph 7,b71 control %all be       
det]m9$ "u ! rules ( p>agraph 7#b7 or   
7#c7 ( section #fjch7;e71 &  7,b7 if !  
inve/m5t ( any p]son describ$ 9 p>agraph
 7#a77;,b7 is coord9at$ ) ! inve/m5t (  
any o!r p]son ! inve/m5t ( su* o!r p]son
 %all be treat$ z held by su* p]son4  ,=
 purposes ( subp>agraph 7,b71 inve/m5ts 
( p]sons %all n fail to be treat$ z     
coord9at$ if contractual obligations    
exi/ 7directly or indirectly7 betwe5 su*
 p]sons ) respect to su* inve/m5ts or ! 
provision ( any s]vices 9 connection )  
any applicable trade or bus9ess4  7d7   
,specifi$ m$ical c>e provid] ,= purposes
 ( ?is section1 ! t]m specifi$ m$ical   
c>e provid] means any corporation or    
p>tn]%ip :i*-- 7#a7 is enroll$ "u       
section #ahff7;j7 ( ! ,social ,security 
,act1  7#b7 is enroll$ z a p>ticipat+   
provid] 9 a ,/ate plan 7or waiv] ( su*  

plan7 "u title ,,xix ( su* ,act1 or     
7#c7 9 ! c\rse ( any trade or bus9ess   
:i* includes ! provision ( m$ical c>e1  
employs any individual :o is s enroll$  
or c]tifi$4  7e7 ,relat$ p]sons ,=      
purposes ( ?is section1 p]sons are      
relat$ to ea* o!r if su* p]sons are     
describ$ 9 section #bfg7;b7 or          
#gjg7;b77#a71 det]m9$ by sub/itut+ #bj  
p]c5t = #ej p]c5t ea* place x appe>s 9  
su* sections4  7f7 ,regulations ,!      
,secret>y %all prescribe su* regulations
 or o!r guidance z may be necess>y to   
c>ry out ! purposes ( ?is section1      
includ+--  7#a7 ! "t & mann] ( fil+ !   
return requir$ "u subsection 7a71  7#b7 
rules to prev5t1 to ! ext5t practicable1
 m ?an "o p]son f be+ requir$ to report 
! same in=mation1  7#c7 rules to prev5t 
! use ( int]m$i>ies1 ag5ts1 nom9ee      
own]%ip1 & o!r arrangem5ts to avoid !   
application ( ?is section1 &  7#d7 rules
 to require report+ ( in=mation to any  
p]son by any p]son relat$ to su* p]son  
to ! ext5t t su* in=mation is necess>y =

 su* p]son to det]m9e if su* p]son is a 
report+ p]son1 or is requir$ to be      
report$ by su* p]son "u ?is section1 &  
is n o!rwise available to su* p]son4    
7g7 ,public availability ( returns      
,annual returns fil$ "u ?is section %all
 be made available by ! ,secret>y to !  
public z soon z practicable 9 a ma*9e   
readable =mat4  4  7b7 ,p5alty = failure
 ,to file complete & correct return ,"p 
,,ii ( sub*apt] ,b ( *apt] #fh ( su*    
,code is am5d$ by add+ at ! end ! foll[+
 new section3  #fgbf4 ,failure to file  
correct in=mation return ) respect to   
specifi$ m$ical c>e provid]s  7a7 ,9    
g5]al ,9 ! case ( any p]son's failure to
 file a complete & correct return "u    
section #fjci,k ) respect to any        
specifi$ m$ical c>e provid] 7z def9$ 9  
su* section7 at ! "t & 9 ! mann]        
prescrib$ !re=1 su* p]son %all pay a    
p5alty ( #e1jjj = ea* su* return = ea*  
day dur+ :i* su* failure cont9ues4  7b7 
,maximum p5alty p] return ,! maximum    
p5alty "u ?is section on failures )     

respect to any #a return %all n exce$   
#a1jjj1jjj4  7c7 ,defici5cy proc$ures n 
,to apply ,sub*apt] ,b ( *apt] #fc      
7relat+ to defici5cy proc$ures = income1
 e/ate1 gift1 & c]ta9 excise taxes7 %all
 n apply ) respect to ! assessm5t or    
collection ( any p5alty impos$ by ?is   
section4  4  7c7 ,cl]ical am5dm5ts  7#a7
 ,! table ( sections = subp>t ,a ( "p   
,,iii ( sub*apt] ,a ( *apt] #fa ( su*   
,code is am5d$ by ins]t+ aft] ! item    
relat+ to section #fjci;,j ! foll[+ new 
item3  ,sec4 #fjci,k4 ,returns by c]ta9 
inve/ors ) respect to c]ta9 specifi$    
m$ical c>e provid]s4  4  7#b7 ,! table (
 sections = "p ,,ii ( sub*apt] ,b (     
*apt] #fh ( su* ,code is am5d$ by add+  
at ! end ! foll[+ new item3  ,sec4      
#fgbf4 ,failure to file correct         
in=mation return ) respect to specifi$  
m$ical c>e provid]s4  4  7d7 ,effective 
date ,! am5dm5ts made by ?is subsection 
%all apply to returns ) respect to      
taxable ye>s ( specifi$ m$ical c>e      
provid]s beg9n+ aft] ! date ( ! enactm5t

 ( ?is ,act4