---
type: "LegalText"
title: "46 U.S.C. § 53512"
description: "FIFO and LIFO withdrawals"
jurisdiction: "us"
corpus: "united_states_code"
kind: "code_section"
title_number: 46
title_name: "SHIPPING"
chapter_number: "535"
chapter_name: "CAPITAL CONSTRUCTION FUNDS"
section: "53512"
citation: "46 U.S.C. § 53512"
status: "current"
release_point: "119-100"
release_date: "2026-06-26"
source: "official"
source_url: "https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc46@119-100.zip"
source_identifier: "/us/usc/t46/s53512"
source_file: "data/legal/raw/us/code/title-46/usc46.xml"
source_hash: "b102849fe34707b8f4d749d63b5e5a33629cf17e024de8ace99c393e8eb7cae2"
raw_snapshot_hash: "eb1331aa3c08ed87231a3606d86b30d1b5942cdf8542f6a3df8ac1d66e86057f"
text_hash: "3305f97e000219acd00cae56efbc6c317debf3672a47e980823677bd0bf51b3d"
retrieved_at: "2026-07-04"
confidence: "official"
tags: ["legal", "us-code"]
---

# 46 U.S.C. § 53512 - FIFO and LIFO withdrawals

## Text

(a) FIFO.— Except as provided in subsection (b), an amount withdrawn from an account under this chapter shall be treated as withdrawn on a first-in-first-out basis.

(b) LIFO.— An amount withdrawn from an account under this chapter shall be treated as withdrawn on a last-in-first-out basis if it is—

(1) a nonqualified withdrawal for research, development, and design expenses incident to new and advanced vessel design, machinery, and equipment; or

(2) an amount treated as a nonqualified withdrawal under section 53510(d) of this title.

(Pub. L. 109–304, § 8(c), Oct. 6, 2006, 120 Stat. 1599.)

## Notes

Historical and Revision Notes RevisedSectionSource (U.S. Code)Source (Statutes at Large) 5351246 App.:1177(h)(2) (last sentence).June 29, 1936, ch. 858, title VI, § 607(h)(2) (last sentence), 49 Stat. 2005; June 23, 1938, ch. 600, §§ 23–28, 52 Stat. 960; Aug. 4, 1939, ch. 417, § 10, 53 Stat. 1185; July 17, 1952, ch. 939, §§ 17–19, 66 Stat. 764; Pub. L. 85–637, Aug. 14, 1958, 72 Stat. 216; Pub. L. 86–518, § 1, June 12, 1960, 74 Stat. 216; Pub. L. 87–45, § 6, May 27, 1961, 75 Stat. 91; Pub. L. 87–271, Sept. 21, 1961, 75 Stat. 570; restated Pub. L. 91–469, § 21(a), Oct. 21, 1970, 84 Stat. 1030.