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(a) Living donors. — Every donor making any gift of more than one thousand (1,000) dollars (or any gift which brings the total of such gift made to any one person since the beginning of the calendar year, or since the previous return with respect to such person, if later, to more than one thousand (1,000) dollars [)], other than by will or other disposition effective at death, shall within ten (10) days after the date of such gift make a return to the Secretary of the Treasury, stating the net value of the gift, the age of the donor, the name, age and address of the recipient, and such other information as the Secretary of the Treasury may require. Any donor making during any calendar year gifts aggregating more than five thousand (5,000) dollars, regardless of the number of persons involved, shall make a return, on or before February 1 of the following calendar year setting forth in detail the amount or value of each gift, the date on which made, the names, addresses and ages of the persons to whom each gift is made, and such other information as the Secretary of the Treasury may require.(b) Recipients.

e of each gift, the date on which made, the names, addresses and ages of the persons to whom each gift is made, and such other information as the Secretary of the Treasury may require.(b) Recipients. — Every recipient receiving gifts during any calendar year amounting to one thousand (1,000) dollars or more in the aggregate shall make a return thereof on or before February 1 of the following calendar year, setting forth the value of each gift, the date received, and the name, address and age of the person from whom received; Provided, That no return shall be required where the sole gift received consists of a legacy upon which the tax has been withheld by an administrator, trustee, or other agent.(c) Every corporation shall make a return of such transfers of shares as the Secretary of the Treasury may by regulation direct. History —Apr. 12, 1946, No. 303, p. 782, § 7, retroactive to Mar. 22, 1946.