(b) Statements To be furnished to individuals involved in the settlement Every person required to make a return under subsection (a) shall furnish to each person who is a party to the suit or agreement a written statement showing— (1) the name of the government or entity, and (2) the information supplied to the Secretary under subsection (a)(1). The written statement required under the preceding sentence shall be furnished to the person at the same time the government or entity provides the Secretary with the information required under subsection (a). (c) Appropriate official defined For purposes of this section, the term appropriate official means the officer or employee having control of the suit, investigation, or inquiry or the person appropriately designated for purposes of this section. . (b) Conforming amendment The table of sections for subpart B of part III of subchapter A of chapter 61 of the Internal Revenue Code of 1986 is amended by inserting after the item relating to section 6050W the following new item: Sec. 6050X. Information with respect to certain fines, penalties, and other amounts. . (c) Effective Date The amendments made by this section shall apply to amounts paid or incurred on or after the date of the enactment of this Act, except that such amendments shall not apply to amounts paid or incurred under any binding order or agreement entered into before such date. Such exception shall not apply to an order or agreement requiring court approval unless the approval was obtained before such date.