Information return obligation: specified entities must submit prescribed returns; defects or failure render returns not furnished. Specified persons maintaining records of registrations, accounts, returns or transaction-related documents must furnish an information return for prescribed periods in the form, manner and to the authority as prescribed. If the authority deems a return defective it shall notify and permit rectification within the prescribed period; failure to rectify will cause the return to be treated as not furnished and the Act's provisions to apply. The authority may also serve a notice requiring submission of outstanding information returns within a prescribed timeframe.