Payments of $600 or more
(a) All persons engaged in a trade or business and making payment in the course of such trade or business to another person, of rent, salaries, wages, premiums, annuities, compensations, remunerations, emoluments, or other fixed or determinable gains, profits, and income (other than payments described in section 742(1) or section 745 of this title), of $600 or more in any taxable year, or, in the case of such payments made by the government of the United States Virgin Islands, the officers or employees of the Virgin Islands having information as to such payments and required, to make returns in regard thereto by the regulations hereinafter provided for, shall render a true and accurate return to the Director, under such regulations and in such form and manner and to such extent as may be prescribed by the Director, setting forth the amount of such gains, profits, and income, and the name and address of the recipient of such payment.
Collection of foreign items
(b) In the case of collection of items (not payable in the Virgin Islands) of interest upon the bonds of foreign countries and interest upon the bonds of and dividends from foreign corporations by any person undertaking as a matter of business or for profit the collection of foreign payments of such interest or dividends by means of coupons, checks, or bills of exchange, such person shall make a return according to the forms or regulations prescribed by the Director, setting forth the amount paid and the name and address of the recipient of each such payment.
Payments of interest by corporations
(c) Every corporation making payments of interest, regardless of amounts, shall, when required by regulations of the Director, make a return according to the forms or regulations prescribed by the Director, setting forth the amount paid and the name and address of the recipient of each such payment.
Recipient to furnish name and address
(d) When necessary to make effective the provisions of this section, the name and address of the recipient of income shall be furnished upon demand of the person paying the income.