republic-os/legal/us/code/title-26/chapter-61/section-6112.md

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LegalText	26 U.S.C. § 6112	Material advisors of reportable transactions must keep lists of advisees, etc.	us	united_states_code	code_section	26	INTERNAL REVENUE CODE	61	INFORMATION AND RETURNS	6112	26 U.S.C. § 6112	current	119-100	2026-06-26	official	https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc26@119-100.zip	/us/usc/t26/s6112	data/legal/raw/us/code/title-26/usc26.xml	74520c56ebabd1b8d4d651f576804f359b1a5d30128a0e808a243a51f08c4a32	a261f094809116f42a96648a3d5eee80fa010379d67412551c21dd5c900b27f4	f99c3cc580012e76fdf9f07d1e9a3c15495fb8834b0ce3c2de7f68b77da0bdc6	2026-07-04	official	legal us-code

26 U.S.C. § 6112 - Material advisors of reportable transactions must keep lists of advisees, etc.

Text

(a) In general Each material advisor (as defined in section 6111) with respect to any reportable transaction (as defined in section 6707A(c)) shall (whether or not required to file a return under section 6111 with respect to such transaction) maintain (in such manner as the Secretary may by regulations prescribe) a list—

(1) identifying each person with respect to whom such advisor acted as a material advisor with respect to such transaction, and

(2) containing such other information as the Secretary may by regulations require.

(b) Special rules (1) Availability for inspection; retention of information on list Any person who is required to maintain a list under subsection (a) (or was required to maintain a list under subsection (a) as in effect before the enactment of the American Jobs Creation Act of 2004)—

(A) shall make such list available to the Secretary for inspection upon written request by the Secretary, and

(B) except as otherwise provided under regulations prescribed by the Secretary, shall retain any information which is required to be included on such list for 7 years.

(2) Lists which would be required to be maintained by 2 or more persons The Secretary may prescribe regulations which provide that, in cases in which 2 or more persons are required under subsection (a) to maintain the same list (or portion thereof), only 1 person shall be required to maintain such list (or portion).

(Added Pub. L. 98–369, div. A, title I, § 142(a), July 18, 1984, 98 Stat. 681; amended Pub. L. 108–357, title VIII, § 815(b)(2), (3), Oct. 22, 2004, 118 Stat. 1582; Pub. L. 109–135, title IV, § 403(z), Dec. 21, 2005, 119 Stat. 2629.)

Notes

Editorial Notes

References in TextEnactment of the American Jobs Creation Act of 2004, referred to in subsec. (b)(1), means enactment of Pub. L. 108–357, which was approved Oct. 22, 2004.

Prior ProvisionsA prior section 6112 was renumbered 6116 of this title.

Amendments2005—Subsec. (b)(1). Pub. L. 109–135, in introductory provisions, inserted “(or was required to maintain a list under subsection (a) as in effect before the enactment of the American Jobs Creation Act of 2004)” after “a list under subsection (a)”. 2004—Pub. L. 108–357, § 815(b)(2), substituted “Material advisors of reportable transactions must keep lists of advisees, etc.” for “Organizers and sellers of potentially abusive tax shelters must keep lists of investors” in section catchline. Subsec. (a). Pub. L. 108–357, § 815(b)(2), reenacted heading without change and amended text of subsec. (a) generally, substituting provisions requiring each material advisor to maintain a list identifying each person with respect to whom such advisor acted as a material advisor with respect to a reportable transaction and containing such other information as required by regulations, for provisions requiring any person who organized any potentially abusive tax shelter or sold any interest in such a shelter to maintain a list identifying each person who had been sold an interest in such shelter and containing such other information as required by regulations. Subsec. (b). Pub. L. 108–357, § 815(b)(2), (3)(A), redesignated subsec. (c) as (b) and struck out former subsec. (b), which defined “potentially abusive tax shelter” for purposes of this section. Subsec. (b)(1)(A). Pub. L. 108–357, § 815(b)(3)(B), inserted “written” before “request”. Subsec. (b)(2). Pub. L. 108–357, § 815(b)(3)(C), substituted “may prescribe” for “shall prescribe”. Subsec. (c). Pub. L. 108–357, § 815(b)(3)(A), redesignated subsec. (c) as (b).

Statutory Notes and Related Subsidiaries

Effective Date of 2005 AmendmentAmendment by Pub. L. 109–135 effective as if included in the provision of the American Jobs Creation Act of 2004, Pub. L. 108–357, to which such amendment relates, see section 403(nn) of Pub. L. 109–135, set out as a note under section 26 of this title.

Effective Date of 2004 AmendmentAmendment by Pub. L. 108–357 applicable to transactions with respect to which material aid, assistance, or advice referred to in section 6111(b)(1)(A)(i) of this title is provided after Oct. 22, 2004, see section 815(c) of Pub. L. 108–357, set out as a note under section 6111 of this title.

Effective DatePub. L. 98–369, div. A, title I, § 142(d), July 18, 1984, 98 Stat. 682, provided that: “The amendments made by this section [enacting this section and section 6708 of this title and renumbering former section 6112 as section 6113 of this title] shall apply to any interest which is first sold to any investor after August 31, 1984.”