26 USC § 7001 - Collection of foreign items

---
identifier: "/us/usc/t26/s7001"
source: "usc"
legal_status: "official_prima_facie"
title: "26 USC § 7001 - Collection of foreign items"
title_number: 26
title_name: "INTERNAL REVENUE CODE"
section_number: "7001"
section_name: "Collection of foreign items"
chapter_number: 72
chapter_name: "LICENSING AND REGISTRATION"
subchapter_number: "A"
subchapter_name: "Licensing"
positive_law: false
currency: "119-84"
last_updated: "2026-04-17"
format_version: "1.1.0"
generator: "[email protected]"
source_credit: "(Aug. 16, 1954, ch. 736, 68A Stat. 845; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)"
---


# § 7001. Collection of foreign items

**(a)** **License** All persons undertaking as a matter of business or for profit the collection of foreign payments of interest or dividends by means of coupons, checks, or bills of exchange shall obtain a license from the Secretary and shall be subject to such regulations enabling the Government to obtain the information required under subtitle A (relating to income taxes) as the Secretary shall prescribe.

**(b)** **Penalty for failure to obtain license** For penalty for failure to obtain the license provided for in this section, see section 7231.

---

**Source Credit**: (Aug. 16, 1954, ch. 736, 68A Stat. 845; Pub. L. 94–455, title XIX, § 1906(b)(13)(A), Oct. 4, 1976, 90 Stat. 1834.)

## Editorial Notes

### Amendments

1976—Subsec. (a).  struck out “or his delegate” after “Secretary” wherever appearing.