[Code of Federal Regulations]
[Title 26, Volume 18, Parts 500 to 599]
[Revised as of April 1, 2000]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR503.7]

[Page 23]
 
                       TITLE 26--INTERNAL REVENUE
 
     CHAPTER 1--INTERNAL REVENUE SERVICE DEPARTMENT OF THE TREASURY 
                               (Continued)
 
PART 503--GERMANY--Table of Contents
 
                       Subpart--Withholding of Tax
 
Sec. 503.7  Information to be furnished in ordinary course.

    (a) General. In compliance with the provisions of Article XVI of the 
convention the Commissioner of Internal Revenue will transmit to the 
Federal Ministry of Finance, as soon as practicable after the close of 
the calendar year 1955 and of each subsequent calendar year during which 
the convention is in effect, the following information relating to such 
preceding calendar year:
    (1) The duplicate copy of each available Form 1042 Supplement filed 
pursuant to paragraph (b) of this section; and
    (2) The duplicate copy of each available ownership certificate, Form 
1001-GER, filed pursuant to Sec. 503.3(b), and substitute Form 1001-GER, 
filed pursuant to Sec. 503.6(a), in connection with coupon bond 
interest.
    (b) Information return. (1) To facilitate compliance with Article 
XVI of the convention, every United States withholding agent shall make 
and file in duplicate with the District Director of Internal Revenue, 
Baltimore 2, Maryland, an information return on Form 1042 Supplement, 
with respect to persons having addresses in the Federal Republic of 
Germany, which shall be filed for the calendar year 1955 and subsequent 
calendar years. This return shall be filed simultaneously with Form 
1042.
    (2) There shall be reported on such Form 1042 Supplement all items 
of fixed or determinable annual or periodical income (and amounts 
described in section 402(a)(2), section 631 (b) and (c), and section 
1235 of the Internal Revenue Code of 1954, which are considered to be 
gains from the sale or exchange of capital assets) derived from sources 
within the United States and paid to nonresident aliens and to 
nonresident foreign corporations, whose addresses at the time of payment 
were in the Federal Republic of Germany, including such items of income 
upon which, in accordance with this part, no withholding of United 
States tax is required; except that any of such items which constitute 
interest in respect of which Form 1001-GER or substitute Form 1001-GER 
has been filed in duplicate with the withholding agent are not required 
to be reported on such Form 1042 Supplement.