{"formats":[{"name":"JSON","format":"json","url":"\/downloads\/2026\/code-json\/58.1-356.json"},{"name":"Plain Text","format":"text","url":"\/downloads\/2026\/code-text\/58.1-356.txt"},{"name":"XML","format":"xml","url":"\/downloads\/2026\/code-xml\/58.1-356.xml"},{"name":"HTML","format":"html","url":"\/downloads\/2026\/code-html\/58.1-356.html"}],"law_id":371896,"edition_id":2,"section_id":371896,"structure_id":52920,"section_number":"58.1-356","catch_line":"Reporting of payments by third-party settlement organizations","history":"2020, cc. 63, 248.","full_text":"A\n\nAs used in this section:\n\t\t\t“Participating payee” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.\n\n\t\t\t“Reportable payment transactions” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.\n\n\t\t\t“Third-party settlement organization” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.\n\nB\n\nAny third-party settlement organization shall report to the Department, and to any participating payee, all information required by § 6050W of the Internal Revenue Code with respect to reportable payment transactions made on or after January 1, 2020, to such participating payee. For the purposes of this requirement, the de minimis limitations of § 6041(a) of the Internal Revenue Code shall apply in lieu of the de minimis limitations of § 6050W(e) of the Internal Revenue Code. This section shall apply only with respect to participating payees with a Virginia mailing address.\n\nC\n\nAny information required by this section shall be reported to the Department on forms and using an electronic medium prescribed by the Tax Commissioner. The Tax Commissioner shall have the authority to waive the requirement to submit this information electronically upon a determination that the requirement creates an unreasonable burden on the third-party settlement organization that is required to report information pursuant to this section. All requests for waiver shall be transmitted to the Tax Commissioner in writing.\n\nD\n\nAny information required by this section shall be reported to the Department and participating payees within 30 days of the relevant federal deadlines for reporting such information. This requirement shall be applied as if the de minimis limitations of § 6041(a) of the Internal Revenue Code had been imposed for federal purposes rather than the de minimis limitations of § 6050W(e) of the Internal Revenue Code.\n\n","order_by":null,"text":{"0":{"id":1386633,"text":"As used in this section:\n\t\t\t“Participating payee” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.\t\t\t“Reportable payment transactions” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.\t\t\t“Third-party settlement organization” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.","type":"section","prefixes":["A"],"prefix":"A","entire_prefix":"A","prefix_anchor":"A","level":1,"next_prefix":"B"},"1":{"id":1386634,"text":"Any third-party settlement organization shall report to the Department, and to any participating payee, all information required by § 6050W of the Internal Revenue Code with respect to reportable payment transactions made on or after January 1, 2020, to such participating payee. For the purposes of this requirement, the de minimis limitations of § 6041(a) of the Internal Revenue Code shall apply in lieu of the de minimis limitations of § 6050W(e) of the Internal Revenue Code. This section shall apply only with respect to participating payees with a Virginia mailing address.","type":"section","prefixes":["B"],"prefix":"B","entire_prefix":"B","prefix_anchor":"B","level":1,"prior_prefix":"A","next_prefix":"C"},"2":{"id":1386635,"text":"Any information required by this section shall be reported to the Department on forms and using an electronic medium prescribed by the Tax Commissioner. The Tax Commissioner shall have the authority to waive the requirement to submit this information electronically upon a determination that the requirement creates an unreasonable burden on the third-party settlement organization that is required to report information pursuant to this section. All requests for waiver shall be transmitted to the Tax Commissioner in writing.","type":"section","prefixes":["C"],"prefix":"C","entire_prefix":"C","prefix_anchor":"C","level":1,"prior_prefix":"B","next_prefix":"D"},"3":{"id":1386636,"text":"Any information required by this section shall be reported to the Department and participating payees within 30 days of the relevant federal deadlines for reporting such information. This requirement shall be applied as if the de minimis limitations of § 6041(a) of the Internal Revenue Code had been imposed for federal purposes rather than the de minimis limitations of § 6050W(e) of the Internal Revenue Code.","type":"section","prefixes":["D"],"prefix":"D","entire_prefix":"D","prefix_anchor":"D","level":1,"prior_prefix":"C"}},"ancestry":[{"id":52920,"edition_id":2,"name":"Accounting, Returns, Procedures for Individuals","identifier":"4","label":"article","depth":4,"order_by":4,"parent_id":52888,"metadata":{"child_laws":34,"child_structures":0},"date_created":"2026-08-02 03:08:07","date_modified":"2026-08-02 12:35:50","permalink":{"id":1481261,"object_type":"structure","relational_id":52920,"identifier":"4","token":"58.1\/I\/3\/4","url":"\/58.1\/I\/3\/4\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52888,"edition_id":2,"name":"Income Tax","identifier":"3","label":"chapter","depth":3,"order_by":3,"parent_id":52818,"metadata":{"child_laws":307,"child_structures":23},"date_created":"2026-08-02 03:07:22","date_modified":"2026-08-02 12:35:49","permalink":{"id":1480269,"object_type":"structure","relational_id":52888,"identifier":"3","token":"58.1\/I\/3","url":"\/58.1\/I\/3\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52818,"edition_id":2,"name":"Taxes Administered by the Department of Taxation","identifier":"I","label":"subtitle","depth":2,"order_by":2,"parent_id":52815,"metadata":{"child_laws":762,"child_structures":68},"date_created":"2026-08-02 03:06:17","date_modified":"2026-08-02 12:35:49","permalink":{"id":1479077,"object_type":"structure","relational_id":52818,"identifier":"I","token":"58.1\/I","url":"\/58.1\/I\/","edition_id":2,"permalink":0,"preferred":1}},{"id":52815,"edition_id":2,"name":"Taxation","identifier":"58.1","label":"title","depth":1,"order_by":125,"parent_id":null,"metadata":{"child_laws":1793,"child_structures":194},"date_created":"2026-08-02 03:06:17","date_modified":"2026-08-02 12:35:49","permalink":{"id":1478961,"object_type":"structure","relational_id":52815,"identifier":"58.1","token":"58.1","url":"\/58.1\/","edition_id":2,"permalink":0,"preferred":1}}],"structure_contents":[{"id":371802,"structure_id":52920,"section_number":"58.1-340","catch_line":"Accounting","url":"\/58.1-340\/","token":"58.1\/I\/3\/4\/58.1-340","metadata":false},{"id":371813,"structure_id":52920,"section_number":"58.1-341","catch_line":"Returns of individuals","url":"\/58.1-341\/","token":"58.1\/I\/3\/4\/58.1-341","metadata":false},{"id":371811,"structure_id":52920,"section_number":"58.1-341.1","catch_line":"Returns of individuals; required information","url":"\/58.1-341.1\/","token":"58.1\/I\/3\/4\/58.1-341.1","metadata":{"court_decisions":""}},{"id":371812,"structure_id":52920,"section_number":"58.1-341.2","catch_line":"Returns of individuals; notification of tax return data breach","url":"\/58.1-341.2\/","token":"58.1\/I\/3\/4\/58.1-341.2","metadata":false},{"id":371814,"structure_id":52920,"section_number":"58.1-342","catch_line":"Special cases in which nonresident need not file Virginia return","url":"\/58.1-342\/","token":"58.1\/I\/3\/4\/58.1-342","metadata":{"court_decisions":""}},{"id":371815,"structure_id":52920,"section_number":"58.1-343","catch_line":"Place of filing","url":"\/58.1-343\/","token":"58.1\/I\/3\/4\/58.1-343","metadata":false},{"id":371820,"structure_id":52920,"section_number":"58.1-344","catch_line":"Extension of time for filing returns","url":"\/58.1-344\/","token":"58.1\/I\/3\/4\/58.1-344","metadata":false},{"id":371816,"structure_id":52920,"section_number":"58.1-344.1","catch_line":"Postponement of time for performing certain acts","url":"\/58.1-344.1\/","token":"58.1\/I\/3\/4\/58.1-344.1","metadata":{"court_decisions":""}},{"id":371817,"structure_id":52920,"section_number":"58.1-344.2","catch_line":"Voluntary contributions; cost of administration","url":"\/58.1-344.2\/","token":"58.1\/I\/3\/4\/58.1-344.2","metadata":{"court_decisions":""}},{"id":371818,"structure_id":52920,"section_number":"58.1-344.3","catch_line":"Voluntary contributions of refunds requirements","url":"\/58.1-344.3\/","token":"58.1\/I\/3\/4\/58.1-344.3","metadata":false},{"id":371819,"structure_id":52920,"section_number":"58.1-344.4","catch_line":"Voluntary contributions of refunds into Commonwealth Savers Plan accounts","url":"\/58.1-344.4\/","token":"58.1\/I\/3\/4\/58.1-344.4","metadata":false},{"id":371821,"structure_id":52920,"section_number":"58.1-345","catch_line":"Repealed","url":"\/58.1-345\/","token":"58.1\/I\/3\/4\/58.1-345","metadata":{"court_decisions":""}},{"id":371822,"structure_id":52920,"section_number":"58.1-346.1","catch_line":"Expired","url":"\/58.1-346.1\/","token":"58.1\/I\/3\/4\/58.1-346.1","metadata":false},{"id":371823,"structure_id":52920,"section_number":"58.1-346.1:1","catch_line":"Repealed","url":"\/58.1-346.1_1\/","token":"58.1\/I\/3\/4\/58.1-346.1_1","metadata":false},{"id":371824,"structure_id":52920,"section_number":"58.1-346.2","catch_line":"Expired","url":"\/58.1-346.2\/","token":"58.1\/I\/3\/4\/58.1-346.2","metadata":false},{"id":371825,"structure_id":52920,"section_number":"58.1-346.2:1","catch_line":"Repealed","url":"\/58.1-346.2_1\/","token":"58.1\/I\/3\/4\/58.1-346.2_1","metadata":false},{"id":371826,"structure_id":52920,"section_number":"58.1-346.3","catch_line":"Expired","url":"\/58.1-346.3\/","token":"58.1\/I\/3\/4\/58.1-346.3","metadata":{"court_decisions":""}},{"id":371827,"structure_id":52920,"section_number":"58.1-346.3:1","catch_line":"Repealed","url":"\/58.1-346.3_1\/","token":"58.1\/I\/3\/4\/58.1-346.3_1","metadata":false},{"id":371828,"structure_id":52920,"section_number":"58.1-346.4","catch_line":"Expired","url":"\/58.1-346.4\/","token":"58.1\/I\/3\/4\/58.1-346.4","metadata":false},{"id":371829,"structure_id":52920,"section_number":"58.1-346.4:1","catch_line":"Repealed","url":"\/58.1-346.4_1\/","token":"58.1\/I\/3\/4\/58.1-346.4_1","metadata":{"court_decisions":""}},{"id":371830,"structure_id":52920,"section_number":"58.1-347","catch_line":"Penalty for failure to file income tax returns in time","url":"\/58.1-347\/","token":"58.1\/I\/3\/4\/58.1-347","metadata":{"court_decisions":""}},{"id":371835,"structure_id":52920,"section_number":"58.1-348","catch_line":"Criminal prosecution for failure or refusal to file return of income or for making false statement therein; limitation","url":"\/58.1-348\/","token":"58.1\/I\/3\/4\/58.1-348","metadata":{"court_decisions":{"0":{"name":"Brown v. Commonwealth","case_number":"2964974","citation":"516 S.E.2d 678","date":"1999-07-27","url":"https:\/\/www.courtlistener.com\/opinion\/1066226\/brown-v-commonwealth\/","abstract":" .\u202f.\u202f. 516 S.E.2d 678 (1999) .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"1":{"name":"Brailey v. Commonwealth","case_number":"2353082","citation":"686 S.E.2d 546","date":"2009-12-22","url":"https:\/\/www.courtlistener.com\/opinion\/1062286\/brailey-v-commonwealth\/","abstract":" .\u202f.\u202f. 686 S.E.2d 546 (2009) .\u202f.\u202f. ","court_html":"COA<\/abbr>"},"2":{"name":"George v. Commonwealth","case_number":"0332064","citation":"655 S.E.2d 43","date":"2008-01-15","url":"https:\/\/www.courtlistener.com\/opinion\/1062879\/george-v-commonwealth\/","abstract":" .\u202f.\u202f. 655 S.E.2d 43 (2008) .\u202f.\u202f. ","court_html":"COA<\/abbr>"}}}},{"id":371831,"structure_id":52920,"section_number":"58.1-348.1","catch_line":"Fraudulent assistance; penalty","url":"\/58.1-348.1\/","token":"58.1\/I\/3\/4\/58.1-348.1","metadata":false},{"id":371832,"structure_id":52920,"section_number":"58.1-348.2","catch_line":"Authority to enjoin income tax return preparers","url":"\/58.1-348.2\/","token":"58.1\/I\/3\/4\/58.1-348.2","metadata":{"court_decisions":""}},{"id":371833,"structure_id":52920,"section_number":"58.1-348.3","catch_line":"Requirement that income tax return preparers use identification numbers","url":"\/58.1-348.3\/","token":"58.1\/I\/3\/4\/58.1-348.3","metadata":false},{"id":371834,"structure_id":52920,"section_number":"58.1-348.4","catch_line":"Failure to provide identification number; civil penalty","url":"\/58.1-348.4\/","token":"58.1\/I\/3\/4\/58.1-348.4","metadata":{"court_decisions":""}},{"id":371836,"structure_id":52920,"section_number":"58.1-349","catch_line":"Information returns prima facie evidence","url":"\/58.1-349\/","token":"58.1\/I\/3\/4\/58.1-349","metadata":{"court_decisions":""}},{"id":371837,"structure_id":52920,"section_number":"58.1-350","catch_line":"Procuring returns from delinquent individuals or fiduciaries","url":"\/58.1-350\/","token":"58.1\/I\/3\/4\/58.1-350","metadata":{"court_decisions":""}},{"id":371862,"structure_id":52920,"section_number":"58.1-351","catch_line":"When, where and how individual income taxes payable and collectible","url":"\/58.1-351\/","token":"58.1\/I\/3\/4\/58.1-351","metadata":{"court_decisions":""}},{"id":371883,"structure_id":52920,"section_number":"58.1-352","catch_line":"Memorandum assessments","url":"\/58.1-352\/","token":"58.1\/I\/3\/4\/58.1-352","metadata":{"court_decisions":""}},{"id":371890,"structure_id":52920,"section_number":"58.1-353","catch_line":"Duties of county and city treasurer in collecting tax","url":"\/58.1-353\/","token":"58.1\/I\/3\/4\/58.1-353","metadata":{"court_decisions":""}},{"id":371894,"structure_id":52920,"section_number":"58.1-354","catch_line":"Separate individual income assessment sheets or forms; how kept","url":"\/58.1-354\/","token":"58.1\/I\/3\/4\/58.1-354","metadata":{"court_decisions":""}},{"id":371895,"structure_id":52920,"section_number":"58.1-355","catch_line":"Income taxes of members of armed services on death","url":"\/58.1-355\/","token":"58.1\/I\/3\/4\/58.1-355","metadata":false},{"id":371896,"structure_id":52920,"section_number":"58.1-356","catch_line":"Reporting of payments by third-party settlement organizations","url":"\/58.1-356\/","token":"58.1\/I\/3\/4\/58.1-356","metadata":{"court_decisions":""}}],"previous_section":{"id":371895,"structure_id":52920,"section_number":"58.1-355","catch_line":"Income taxes of members of armed services on death","url":"\/58.1-355\/","token":"58.1\/I\/3\/4\/58.1-355","metadata":false},"metadata":{"court_decisions":""},"official_url":"https:\/\/law.lis.virginia.gov\/vacode\/58.1-356\/","history_text":"

This law was first created in 2020. The record of its establishment is cataloged in chapters 63<\/a> and 248<\/a> of that year\u2019s edition of \u201cActs of Assembly,\u201d the annual state publication listing all changes made to the Code of Virginia in that year.<\/p>","references":false,"refers_to":false,"permalink":{"id":1481395,"object_type":"law","relational_id":371896,"identifier":"58.1-356","token":"58.1\/I\/3\/4\/58.1-356","url":"\/58.1-356\/","edition_id":2,"permalink":0,"preferred":1},"url":"\/58.1-356\/","token":"58.1\/I\/3\/4\/58.1-356","dublin_core":{"Title":"Reporting of payments by third-party settlement organizations","Type":"Text","Format":"text\/html","Identifier":"\u00a7 58.1-356","Relation":"Code of Virginia"},"html":"\n\t\t\t\t\t\t

A.<\/span> As used in this section:\n\t\t\t“Participating payee<\/span>” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.

\t\t\t“Reportable payment transactions<\/span>” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code.

\t\t\t“Third-party<\/span> settlement organization<\/span>” has the same meaning as that term is defined in § 6050W of the Internal Revenue Code. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

B.<\/span> Any third-party<\/span> settlement organization<\/span> shall report to the Department<\/span>, and to any participating payee<\/span>, all information required by § 6050W of the Internal Revenue Code with respect to reportable payment transactions<\/span> made on or after January 1, 2020, to such participating payee<\/span>. For the purposes of this requirement, the de minimis limitations of § 6041(a) of the Internal Revenue Code shall apply in lieu of the de minimis limitations of § 6050W(e) of the Internal Revenue Code. This section shall apply only with respect to participating payees<\/span> with a Virginia mailing address. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

C.<\/span> Any information required by this section shall be reported to the Department<\/span> on forms and using an electronic medium prescribed by the Tax Commissioner<\/span>. The Tax Commissioner<\/span> shall have the authority to waive<\/span> the requirement to submit this information electronically upon a determination that the requirement creates an unreasonable burden on the third-party<\/span> settlement organization<\/span> that is required to report information pursuant to this section. All requests for waiver<\/span> shall be transmitted to the Tax Commissioner<\/span> in writing. <\/i><\/a><\/p><\/section>\n\t\t\t\t\t\t

D.<\/span> Any information required by this section shall be reported to the Department<\/span> and participating payees<\/span> within 30 days of the relevant federal deadlines for reporting such information. This requirement shall be applied as if the de minimis limitations of § 6041(a) of the Internal Revenue Code had been imposed for federal purposes rather than the de minimis limitations of § 6050W(e) of the Internal Revenue Code. <\/i><\/a><\/p><\/section>","plain_text":" CODE OF VIRGINIA\n\nREPORTING OF PAYMENTS BY THIRD-PARTY SETTLEMENT ORGANIZATIONS (\u00a7 58.1-356)\n\nA. As used in this section:\n\t\t\t“Participating payee” has the same meaning as that term is\ndefined in § 6050W of the Internal Revenue Code.\t\t\t“Reportable\npayment transactions” has the same meaning as that term is defined in\n§ 6050W of the Internal Revenue Code.\t\t\t“Third-party settlement\norganization” has the same meaning as that term is defined in § 6050W\nof the Internal Revenue Code.\n\nB. Any third-party settlement organization shall report to the Department, and\nto any participating payee, all information required by § 6050W of the\nInternal Revenue Code with respect to reportable payment transactions made on or\nafter January 1, 2020, to such participating payee. For the purposes of this\nrequirement, the de minimis limitations of § 6041(a) of the Internal\nRevenue Code shall apply in lieu of the de minimis limitations of §\n6050W(e) of the Internal Revenue Code. This section shall apply only with\nrespect to participating payees with a Virginia mailing address.\n\nC. Any information required by this section shall be reported to the Department\non forms and using an electronic medium prescribed by the Tax Commissioner. The\nTax Commissioner shall have the authority to waive the requirement to submit\nthis information electronically upon a determination that the requirement\ncreates an unreasonable burden on the third-party settlement organization that\nis required to report information pursuant to this section. All requests for\nwaiver shall be transmitted to the Tax Commissioner in writing.\n\nD. Any information required by this section shall be reported to the Department\nand participating payees within 30 days of the relevant federal deadlines for\nreporting such information. This requirement shall be applied as if the de\nminimis limitations of § 6041(a) of the Internal Revenue Code had been\nimposed for federal purposes rather than the de minimis limitations of §\n6050W(e) of the Internal Revenue Code.\n\nHISTORY: 2020, cc. 63, 248.","edition":{"id":2,"name":"2026","slug":"2026","date_created":"2026-07-16 18:40:23","date_modified":"2026-08-02 15:14:36","current":1,"order_by":2,"last_import":"2026-08-02 12:37:30"}}