
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC6112]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                Subtitle F--Procedure and Administration
 
                   CHAPTER 61--INFORMATION AND RETURNS
 
                 Subchapter B--Miscellaneous Provisions
 
Sec. 6112. Organizers and sellers of potentially abusive tax 
        shelters must keep lists of investors
        

(a) In general

    Any person who--
        (1) organizes any potentially abusive tax shelter, or
        (2) sells any interest in such a shelter,

shall maintain (in such manner as the Secretary may by regulations 
prescribe) a list identifying each person who was sold an interest in 
such shelter and containing such other information as the Secretary may 
by regulations require.

(b) Potentially abusive tax shelter

    For purposes of this section, the term ``potentially abusive tax 
shelter'' means--
        (1) any tax shelter (as defined in section 6111) with respect to 
    which registration is required under section 6111, and
        (2) any entity, investment plan or arrangement, or other plan or 
    arrangement which is of a type which the Secretary determines by 
    regulations as having a potential for tax avoidance or evasion.

(c) Special rules

    (1) Availability for inspection; retention of information on 
                                    list

        Any person who is required to maintain a list under subsection 
    (a)--
            (A) shall make such list available to the Secretary for 
        inspection upon 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 shall 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, Sec. 142(a), July 18, 1984, 98 
Stat. 681.)


                            Prior Provisions

    A prior section 6112 was renumbered 6116 of this title.


                             Effective Date

    Section 142(d) of Pub. L. 98-369 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.''

                  Section Referred to in Other Sections

    This section is referred to in section 6708 of this title.
