# § 6405. Reports of refunds and credits
**(a)** **By Treasury to Joint Committee** No refund or credit of any income, war profits, excess profits, estate, or gift tax, or any tax imposed with respect to public charities, private foundations, operators’ trust funds, pension plans, or real estate investment trusts under chapter 41, 42, 43, or 44, in excess of $2,000,000 ($5,000,000 in the case of a C corporation) shall be made until after the expiration of 30 days from the date upon which a report giving the name of the person to whom the refund or credit is to be made, the amount of such refund or credit, and a summary of the facts and the decision of the Secretary, is submitted to the Joint Committee on Taxation.
**(b)** **Tentative adjustments** Any credit or refund allowed or made under section 6411 shall be made without regard to the provisions of subsection (a) of this section. In any such case, if the credit or refund, reduced by any deficiency in such tax thereafter assessed and by deficiencies in any other tax resulting from adjustments reflected in the determination of the credit or refund, is in excess of $2,000,000 ($5,000,000 in the case of a C corporation), there shall be submitted to such committee a report containing the matter specified in subsection (a) at such time after the making of the credit or refund as the Secretary shall determine the correct amount of the tax.
**(c)** **Refunds attributable to certain disaster losses** If any refund or credit of income taxes is attributable to the taxpayer’s election under section 165(i) to deduct a disaster loss for the taxable year immediately preceding the taxable year in which the disaster occurred, the Secretary is authorized in his discretion to make the refund or credit, to the extent attributable to such election, without regard to the provisions of subsection (a) of this section. If such refund or credit is made without regard to subsection (a), there shall thereafter be submitted to such Joint Committee a report containing the matter specified in subsection (a) as soon as the Secretary shall determine the correct amount of the tax for the taxable year for which the refund or credit is made.
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**Source Credit**: (Aug. 16, 1954, ch. 736, 68A Stat. 792; Pub. L. 92–418, § 2(b), Aug. 29, 1972, 86 Stat. 657; Pub. L. 92–512, title II, § 203(a), Oct. 20, 1972, 86 Stat. 944; Pub. L. 94–455, title XII, § 1210(a), (b), title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1711, 1834; Pub. L. 95–227, § 4(d)(3), Feb. 10, 1978, 92 Stat. 23; Pub. L. 98–369, div. A, title VII, § 711(c)(3), July 18, 1984, 98 Stat. 946; Pub. L. 99–514, title XVIII, § 1879(e), Oct. 22, 1986, 100 Stat. 2906; Pub. L. 101–508, title XI, §§ 11801(c)(21)(A), 11834(a), Nov. 5, 1990, 104 Stat. 1388–528, 1388–560; Pub. L. 106–554, § 1(a)(7) [title III, § 305(a)], Dec. 21, 2000, 114 Stat. 2763, 2763A–634; Pub. L. 113–295, div. A, title III, § 301(a), Dec. 19, 2014, 128 Stat. 4055.)
## Editorial Notes
### Amendments
2014—Subsecs. (a), (b). inserted “($5,000,000 in the case of a C corporation)” after “$2,000,000”.
2000—Subsecs. (a), (b). substituted “$2,000,000” for “$1,000,000”.
1990—Subsecs. (a), (b). substituted “$1,000,000” for “$200,000”.
Subsec. (d). , struck out subsec. (d) which read as follows: “For purposes of this section, a refund or credit made under subchapter E of chapter 64 (relating to Federal collection of qualified State individual income taxes) for a taxable year shall be treated as a portion of a refund or credit of the income tax for that taxable year.”
1986—Subsecs. (b) to (e). redesignated subsecs. (c) to (e) as (b) to (d), respectively, and struck out former subsec. (b) which read as follows: “A report to Congress shall be made annually by such committee of such refunds and credits, including the names of all persons and corporations to whom amounts are credited or payments are made, together with the amounts credited or paid to each.”
1984—Subsec. (d). substituted “section 165(i)” for “section 165(h)”.
1978—Subsec. (a). inserted provisions relating to applicability to public charities, operators’ trust funds, or real estate investment trusts, and references to chapters 41 and 44.
1976—Subsec. (a). , inserted reference to any tax imposed with respect to private foundations and pensions under chapters 42 and 43, substituted $200,000 for $100,000 and struck out “or his delegate” after “Secretary”.
Subsec. (c). , §§ 1210(b), 1906(b)(13)(A), substituted “$200,000” for “$100,000” and struck out “or his delegate” after “Secretary”.
Subsec. (d). , struck out “or his delegate” after “Secretary” wherever appearing.
1972—Subsec. (d). added subsec. (d).
Subsec. (e). added subsec. (e).
## Statutory Notes and Related Subsidiaries
### Effective Date of 2014 Amendment
> “The amendment made by this section [amending this section] shall take effect on the date of the enactment of this Act [
>
> ], except that such amendment shall not apply with respect to any refund or credit with respect to a report that has been made before such date under section 6405 of the Internal Revenue Code of 1986.”
, , , provided that:
### Effective Date of 2000 Amendment
> “The amendment made by subsection (a) [amending this section] shall take effect on the date of the enactment of this Act [
>
> ], except that such amendment shall not apply with respect to any refund or credit with respect to a report that has been made before such date of the enactment under section 6405 of the Internal Revenue Code of 1986.”
, , , 2763A–634, provided that:
### Effective Date of 1990 Amendment
> “The amendment made by subsection (a) [amending this section] shall take effect on the date of the enactment of this Act [
>
> ], except that such amendment shall not apply with respect to any refund or credit with respect to a report has been made before such date of enactment under section 6405 of the Internal Revenue Code of 1986.”
, , , provided that:
### Effective Date of 1986 Amendment
Amendment by effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, , to which such amendment relates, see , set out as a note under .
### Effective Date of 1984 Amendment
Amendment by effective as if included in the provision of the Tax Equity and Fiscal Responsibility Act of 1982, , to which such amendment relates, see , set out as a note under .
### Effective Date of 1978 Amendment
Amendment by applicable with respect to contributions, acts, and expenditures made after , in and for taxable years beginning after such date, see , set out as an Effective Date note under .
### Effective Date of 1976 Amendment
> “The amendments made by subsections (a) and (b) [amending this section] shall take effect on the date of enactment of this Act [
>
> ], except that such amendments shall not apply with respect to any refund or credit with respect to which a report has been made before the date of enactment of this Act [
>
> ] under subsection (a) or (c) of section 6405 of the Internal Revenue Code of 1986 [formerly I.R.C. 1954].”
, , , as amended by , , , provided that:
### Effective Date of 1972 Amendment
> “The amendment made by subsection (b) [amending this section] shall apply with respect to refunds or credits made after
>
> .”
, , , provided in part that:
### Savings Provision
For provisions that nothing in amendment by be construed to affect treatment of certain transactions occurring, property acquired, or items of income, loss, deduction, or credit taken into account prior to , for purposes of determining liability for tax for periods ending after , see , set out as a note under .
### Plan Amendments Not Required Until January 1, 1989
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and 1171–1177] or title XVIII [§§ 1800–1899A] of require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after , see , as amended, set out as a note under .