[Code of Federal Regulations]
[Title 26, Volume 15]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR31.6302(c)-2A]

[Page 389-390]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 31_EMPLOYMENT TAXES AND COLLECTION OF INCOME TAX AT SOURCE--Table of Contents
 
Subpart G_Administrative Provisions of Special Application to Employment 
Taxes (Selected Provisions of Subtitle F, Internal Revenue Code of 1954)
 
Sec. 31.6302(c)-2A  Use of Government depositaries in connection 
with the railroad unemployment repayment tax.

    (a) Effective date. The provisions of this section apply with 
respect to the tax imposed by section 3321(a) on rail employers (as 
defined in section 3323(a)) on wages paid on or after July 1, 1986, 
during a taxable period.
    (b) Requirement--(1) Rail employers--(i) In general. Except as 
provided in this section, every rail employer who is required by section 
6157(d) to compute the tax imposed by section 3321(a) on a quarterly 
basis shall deposit the amount of the tax so computed with respect to a 
calendar quarter (other than the fourth quarter of a calendar year) with 
an authorized financial institution on or before the last day of the 
first calendar month following the close of the calendar quarter.
    (ii) Special rule for certain rail employers. If, for the calendar 
year prior to the calendar year immediately preceding the current 
calendar year, the aggregate amount of taxes imposed under sections 3202 
and 3221 of the Code (relating to the railroad retirement tax) with 
respect to an employer equaled or exceeded $1,000,000, such employer 
shall (except as provided below) deposit his undeposited railroad 
unemployment repayment tax imposed by section 3321(a) with respect to 
the current calendar year at the time such tax would otherwise be 
required to be deposited under this section in the manner set forth in 
Revenue Procedure 83-90, 1983-2 C.B. 615 (relating to transfers by wire 
to the Treasury). The funds transfer message described in Revenue 
Procedure 83-90 (with respect to the railroad retirement tax) shall be 
completed in the same manner as is prescribed in that Revenue Procedure, 
except that the amount required by item 12(f) shall be the amount of the 
railroad unemployment repayment tax (to be labeled as such by the rail 
employer). Item 12(g) is to be disregarded with respect to the use of 
the Revenue Procedure for deposits of the railroad unemployment 
repayment tax. A wire transfer required to be made by a rail employer 
with respect to the railroad unemployment repayment tax shall be made 
separately from any wire transfer required to be made with respect to 
any other tax.
    (2) Special rule where accumulated amount does not exceed $100. The 
provisions of paragraph (b)(1) of this section shall not apply with 
respect to any calendar quarter if the amount of tax imposed by section 
3321(a) for such calendar quarter as computed under section 6157, plus 
unpaid amounts for prior calendar quarters within the taxable period, 
does not exceed $100.
    (3) Requirement for deposit in lieu of payment with return. If the 
amount of

[[Page 390]]

the tax reportable on a return of tax on Form CT-1 for a taxable period 
(as defined in section 3322(a)) exceeds by more than $100 the sum of the 
amounts deposited pursuant to paragraph (b)(1) of this section for such 
taxable period, the rail employer shall, on or before the last day of 
the first calendar month following the period, deposit the balance of 
the tax due with a Federal Reserve bank or with an authorized financial 
institution.
    (4) Special rule for third calendar quarter of 1986. Notwithstanding 
paragraph (b)(1)(i) of this section, every rail employer required by 
section 6157(d) to compute the tax imposed by section 3321(a) for the 
third calendar quarter of 1986 shall deposit the tax so computed on or 
before December 15, 1986, in the manner provided by this section.
    (c) Depositary forms. The provisions of paragraphs (b) and (c) of 
Sec. 31.6302(c)-2, relating to depositary forms, are incorporated in 
this Sec. 31.6302(c)-2A by reference.

[T.D. 8105, 51 FR 40169, Nov. 5, 1986. Redesignated and amended at T.D. 
8227, 53 FR 34736, Sept. 8, 1988; T.D. 8952, 66 FR 33832, June 26, 2001]