(b) Foreign related party payments Any taxpayer who makes a payment to a foreign person which is a related party (as such terms are defined in section 59A) of the taxpayer during the taxable year shall make a return according to the forms and regulations prescribed by the Secretary, setting forth— (1) the amount of such payments by type and separately stated, and (2) any amount paid which results in a reduction of gross receipts to the taxpayer. (c) Foreign-derived intangible income Any taxpayer who has foreign-derived intangible income (as defined in section 250(b)) for a taxable year shall make a return according to the forms and regulations prescribed by the Secretary, setting forth— (1) the aggregate amount of such income, (2) the amount of foreign-derived deduction eligible income (as defined in section 250(b)(4)), and (3) a certification that any income described in paragraph (2) does not relate to the sale of products for any use, consumption, or disposition within the United States. . (b) Penalty Section 6652 , as amended by section 13603, is amended by adding at the end the following new subsection: (q) Failure to file with respect to transactions affecting revenue dependent proposals In the case of any failure to make a return required under section 6050Z containing the information required by such section on the date prescribed therefor (determined with regard to any extension of time for filing), unless it is shown that such failure is due to reasonable cause, there shall be paid (on notice and demand by the Secretary and in the same manner as tax) by the person failing to file such return, an amount equal to $1,000 for each day during which such failure continues, but the total amount imposed under this subsection with respect to any return shall not exceed $250,000. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after December 31, 2024. 15007. Effective date (a) In general The amendments made by this subtitle shall apply to taxable years beginning