{"identifier":"/us/usc/t26/s4475","title":26,"num":"\u00a7\u202f4475.","heading":"Imposition of tax","text":"\u00a7\u202f4475.\nImposition of tax\n(a)\nIn general\nThere is hereby imposed on any remittance transfer a tax equal to 1 percent of the amount of such transfer.\n(b)\nPayment of tax\n(1)\nIn general\nThe tax imposed by this section with respect to any remittance transfer shall be paid by the sender with respect to such transfer.\n(2)\nCollection of tax\nThe remittance transfer provider with respect to any remittance transfer shall collect the amount of the tax imposed under subsection (a) with respect to such transfer from the sender and remit such tax quarterly to the Secretary at such time and in such manner as provided by the Secretary,\n1\n1 So in original. The comma probably should be a period.\n(3)\nSecondary liability\nWhere any tax imposed by subsection (a) is not paid at the time the transfer is made, then to the extent that such tax is not collected, such tax shall be paid by the remittance transfer provider.\n(c)\nTax limited to cash and similar instruments\nThe tax imposed under subsection (a) shall apply only to any remittance transfer for which the sender provides cash, a money order, a cashier\u2019s check, or any other similar physical instrument (as determined by the Secretary) to the remittance transfer provider.\n(d)\nNonapplication to certain noncash remittance transfers\nSubsection (a) shall not apply to any remittance transfer for which the funds being transferred are\u2014\n(1) withdrawn from an account held in or by a financial institution\u2014\n(A) which is described in subparagraphs (A) through (H) of\nsection 5312(a)(2) of title 31\n(B) that is subject to the requirements under subchapter II of chapter 53 of such title, or\n(2) funded with a debit card or a credit card which is issued in the United States.\n(e)\nDefinitions\nFor purposes of this section\u2014\n(1)\nIn general\nThe terms \u201cremittance transfer\u201d, \u201cremittance transfer provider\u201d, and \u201csender\u201d shall each have the respective meanings given such terms by section 919(g) of the Electronic Fund Transfer Act (\n15 U.S.C. 1693\no\n(2)\nCredit card\nThe term \u201ccredit card\u201d has the same meaning given such term under section 920(c)(3) of the Electronic Fund Transfer Act (\n15 U.S.C. 1693\no\n(3)\nDebit card\nThe term \u201cdebit card\u201d has the same meaning given such term under section 920(c)(2) of the Electronic Fund Transfer Act (\n15 U.S.C. 1693\no\n(f)\nApplication of anti-conduit rules\nFor purposes of section 7701(\nl","url":"https://projectusc.org/usc/t26/s4475.html","content":[{"t":"sec","id":"/us/usc/t26/s4475","children":[{"t":"num","text":"\u00a7\u202f4475."},{"t":"heading","text":"Imposition of tax"},{"t":"subsec","id":"/us/usc/t26/s4475/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"There is hereby imposed on any remittance transfer a tax equal to 1 percent of the amount of such transfer.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4475/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Payment of tax"},{"t":"para","id":"/us/usc/t26/s4475/b/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"The tax imposed by this section with respect to any remittance transfer shall be paid by the sender with respect to such transfer.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s4475/b/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Collection of tax"},{"t":"content","children":[{"t":"p","text":"The remittance transfer provider with respect to any remittance transfer shall collect the amount of the tax imposed under subsection (a) with respect to such transfer from the sender and remit such tax quarterly to the Secretary at such time and in such manner as provided by the Secretary,","children":[{"t":"ref","text":"1"},{"t":"num","text":"1","tail":"\u202fSo in original. The comma probably should be a period."},{"t":"text","text":"\u202fSo in original. The comma probably should be a period."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s4475/b/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Secondary liability"},{"t":"content","children":[{"t":"p","text":"Where any tax imposed by subsection (a) is not paid at the time the transfer is made, then to the extent that such tax is not collected, such tax shall be paid by the remittance transfer provider.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4475/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Tax limited to cash and similar instruments"},{"t":"content","children":[{"t":"p","text":"The tax imposed under subsection (a) shall apply only to any remittance transfer for which the sender provides cash, a money order, a cashier\u2019s check, or any other similar physical instrument (as determined by the Secretary) to the remittance transfer provider.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4475/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Nonapplication to certain noncash remittance transfers"},{"t":"chapeau","text":"Subsection (a) shall not apply to any remittance transfer for which the funds being transferred are\u2014"},{"t":"para","id":"/us/usc/t26/s4475/d/1","children":[{"t":"num","text":"(1)"},{"t":"chapeau","text":" withdrawn from an account held in or by a financial institution\u2014"},{"t":"subpara","id":"/us/usc/t26/s4475/d/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" which is described in subparagraphs (A) through (H) of ","children":[{"t":"ref","text":"section 5312(a)(2) of title 31","href":"/us/usc/t31/s5312/a/2","tail":", United States Code, and"}],"tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t26/s4475/d/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" that is subject to the requirements under subchapter II of chapter 53 of such title, or","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s4475/d/2","children":[{"t":"num","text":"(2)"},{"t":"content","text":" funded with a debit card or a credit card which is issued in the United States.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4475/e","children":[{"t":"num","text":"(e)"},{"t":"heading","text":"Definitions"},{"t":"chapeau","text":"For purposes of this section\u2014"},{"t":"para","id":"/us/usc/t26/s4475/e/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"The terms \u201cremittance transfer\u201d, \u201cremittance transfer provider\u201d, and \u201csender\u201d shall each have the respective meanings given such terms by section 919(g) of the Electronic Fund Transfer Act (","children":[{"t":"ref","text":"15 U.S.C. 1693","href":"/us/usc/t15/s1693"},{"t":"text","text":"o","tail":"\u20131(g))."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s4475/e/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Credit card"},{"t":"content","children":[{"t":"p","text":"The term \u201ccredit card\u201d has the same meaning given such term under section 920(c)(3) of the Electronic Fund Transfer Act (","children":[{"t":"ref","text":"15 U.S.C. 1693","href":"/us/usc/t15/s1693"},{"t":"text","text":"o","tail":"\u20132(c)(3))."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t26/s4475/e/3","children":[{"t":"num","text":"(3)"},{"t":"heading","text":"Debit card"},{"t":"content","children":[{"t":"p","text":"The term \u201cdebit card\u201d has the same meaning given such term under section 920(c)(2) of the Electronic Fund Transfer Act (","children":[{"t":"ref","text":"15 U.S.C. 1693","href":"/us/usc/t15/s1693"},{"t":"text","text":"o","tail":"\u20132(c)(2)), without regard to subparagraph (B) of such section."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t26/s4475/f","children":[{"t":"num","text":"(f)"},{"t":"heading","text":"Application of anti-conduit rules"},{"t":"content","children":[{"t":"p","text":"For purposes of section 7701(","children":[{"t":"text","text":"l","tail":"), with respect to any multiple-party arrangements involving the sender, a remittance transfer shall be treated as a financing transaction."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"},{"t":"text","text":"\n"}]}]}