§ 1472. Withholdable payments to other foreign entities

• (a) In the case of any withholdable payment to a non-financial foreign entity, if—
  • (1) the beneficial owner of such payment is such entity or any other non-financial foreign entity, and
  • (2) the requirements of subsection (b) are not met with respect to such beneficial owner,
• (b) The requirements of this subsection are met with respect to the beneficial owner of a payment if—
  • (1) such beneficial owner or the payee provides the withholding agent with either—
    • (A) a certification that such beneficial owner does not have any substantial United States owners, or
    • (B) the name, address, and TIN of each substantial United States owner of such beneficial owner,
  • (2) the withholding agent does not know, or have reason to know, that any information provided under paragraph (1) is incorrect, and
  • (3) the withholding agent reports the information provided under paragraph (1)(B) to the Secretary in such manner as the Secretary may provide.
• (c) Subsection (a) shall not apply to—
  • (1) except as otherwise provided by the Secretary, any payment beneficially owned by—
    • (A) any corporation the stock of which is regularly traded on an established securities market,
    • (B) any corporation which is a member of the same expanded affiliated group (as defined in section 1471(e)(2) without regard to the last sentence thereof) as a corporation described in subparagraph (A),
    • (C) any entity which is organized under the laws of a possession of the United States and which is wholly owned by one or more bona fide residents (as defined in section 937(a)) of such possession,
    • (D) any foreign government, any political subdivision of a foreign government, or any wholly owned agency or instrumentality of any one or more of the foregoing,
    • (E) any international organization or any wholly owned agency or instrumentality thereof,
    • (F) any foreign central bank of issue, or
    • (G) any other class of persons identified by the Secretary for purposes of this subsection, and
  • (2) any class of payments identified by the Secretary for purposes of this subsection as posing a low risk of tax evasion.
• (d) For purposes of this section, the term “non-financial foreign entity” means any foreign entity which is not a financial institution (as defined in section 1471(d)(5)).