(a) Payments of fixed or determinable income of five hundred dollars ($500) or more. — All persons engaged in a trade or business in Puerto Rico, including lessees or mortgagors of personal or real property, fiduciaries and employers who made payments to individuals for rents, salaries, wages, premiums, annuities, compensations, remunerations, emoluments or other fixed or determinable gains, profits, or income other than the payments described in § 30295 or § 30296 of this title, of five hundred dollars ($500) or more, or who made interest payments of five hundred dollars ($500) or more to individuals in any taxable year, except tax-exempt interest under this part, not including interests considered in § 30102(a)(3) of this title, (or, in the case that such payments are made by the Government of Puerto Rico or any instrumentality or political subdivision thereof, the officials or employees who have information as to such payments and are required to make returns in regard thereto under the regulations provided hereinafter) shall render, on or before February 28 of the following year, a true and accurate return to the Secretary, under such regulations and in such form and manner

der the regulations provided hereinafter) shall render, on or before February 28 of the following year, a true and accurate return to the Secretary, under such regulations and in such form and manner and to such extent as may be prescribed by the Secretary, setting forth the amount of such gains, profits, and income, and the name, address, and account number of the recipient of such payments.(b) Returns regardless of amount of payment. — Such returns may be required, regardless of amounts:(1) In the case of payments of interest on bonds, mortgages, deeds of trust, or other similar obligations of corporations or partnerships, and(2) in the case of collections of items, not payable in Puerto Rico, of interest on bonds of foreign countries and interest on the bonds of and dividends or profits from foreign corporations or partnerships by persons undertaking as a matter of business or for profit the collection of foreign payments of such interest, dividends, or profits by means of coupons, checks, bills of exchange, or in any other form.(c) Recipient to furnish name, address, and account number.

collection of foreign payments of such interest, dividends, or profits by means of coupons, checks, bills of exchange, or in any other form.(c) Recipient to furnish name, address, and account number. — To make effective the provisions of this section, the name, address, and account number of the recipient of income shall be furnished upon demand of the person paying the income.(d) Statements to be furnished to individuals with respect to whom the information is required. — Every person who renders the information return described in subsection (a) shall furnish a copy thereof to every individual with respect to whom said return is made, on or before the date prescribed in said subsection (a). History —Jan. 31, 2011, No. 1, § 1063.01, retroactive to Jan. 1, 2011.