Current through Pub. L. 119-100Open in workspace →
§ 6659 Improper claim for Trump account contribution pilot program credit
(a) In general
In the case of any individual who makes an election under section with respect to an individual who is not an eligible child of the taxpayer—(1) if such election was made due to negligence or disregard of the rules or regulations, there shall be imposed a penalty of $500, or
(2) if such election was made due to fraud, there shall be imposed a penalty of $1,000.
(b) Definitions
(1) Eligible child
The term “eligible child” has the meaning given such term under section .
(2) Negligence; disregard
The terms “negligence” and “disregard” have the same meaning as when such terms are used in section .