# 26 U.S.C. § 6111: Disclosure of reportable transactions

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s6111>. Cite pinpoints as 26 U.S.C. § 6111(a)(1).

## § 6111(a) In general

Each material advisor with respect to any reportable transaction shall make a return (in such form as the Secretary may prescribe) setting forth—

**§ 6111(a)(1)** information identifying and describing the transaction,

**§ 6111(a)(2)** information describing any potential tax benefits expected to result from the transaction, and

**§ 6111(a)(3)** such other information as the Secretary may prescribe.

Such return shall be filed not later than the date specified by the Secretary.

## § 6111(b) Definitions

For purposes of this section:

**§ 6111(b)(1) Material advisor.**

**§ 6111(b)(1)(A) In general.** The term “material advisor” means any person—

**§ 6111(b)(1)(A)(i)** who provides any material aid, assistance, or advice with respect to organizing, managing, promoting, selling, implementing, insuring, or carrying out any reportable transaction, and

**§ 6111(b)(1)(A)(ii)** who directly or indirectly derives gross income in excess of the threshold amount (or such other amount as may be prescribed by the Secretary) for such aid, assistance, or advice.

**§ 6111(b)(1)(B) Threshold amount.** For purposes of subparagraph (A), the threshold amount is—

**§ 6111(b)(1)(B)(i)** $50,000 in the case of a reportable transaction substantially all of the tax benefits from which are provided to natural persons, and

**§ 6111(b)(1)(B)(ii)** $250,000 in any other case.

**§ 6111(b)(2) Reportable transaction.** The term “reportable transaction” has the meaning given to such term by section 6707A(c).

## § 6111(c) Regulations

The Secretary may prescribe regulations which provide—

**§ 6111(c)(1)** that only 1 person shall be required to meet the requirements of subsection (a) in cases in which 2 or more persons would otherwise be required to meet such requirements,

**§ 6111(c)(2)** exemptions from the requirements of this section, and

**§ 6111(c)(3)** such rules as may be necessary or appropriate to carry out the purposes of this section.

## Regulations

- [Treas. Reg. § 301.6111-1T](/26/reg/301.6111-1T.md): Questions and answers relating to tax shelter registration. (interprets § 6111)
- [Treas. Reg. § 301.6111-2](/26/reg/301.6111-2.md): Confidential corporate tax shelters. (interprets § 6111)
- [Treas. Reg. § 301.6111-3](/26/reg/301.6111-3.md): Disclosure of reportable transactions. (interprets § 6111)

## Forms named in the regulations

- [Form 8918](https://www.irs.gov/pub/irs-pdf/f8918.pdf)
- [Form 1040X](https://www.irs.gov/pub/irs-pdf/f1040x.pdf)
- [Form 1045](https://www.irs.gov/pub/irs-pdf/f1045.pdf)
- [Form 1120X](https://www.irs.gov/pub/irs-pdf/f1120x.pdf)

## Final rules

- [76 FR 70340](https://www.federalregister.gov/documents/2011/11/14/2011-29313/generation-skipping-transfers-gst-section-6011-regulations-and-amendments-to-the-section-6112) (2011): Generation-Skipping Transfers (GST) Section 6011 Regulations and Amendments to the Section 6112 Regulations
- [72 FR 43157](https://www.federalregister.gov/documents/2007/08/03/07-3788/ajca-modifications-to-the-section-6111-regulations) (2007): AJCA Modifications to the Section 6111 Regulations
- [71 FR 64458](https://www.federalregister.gov/documents/2006/11/02/E6-18317/ajca-modifications-to-the-section-6011-6111-and-6112-regulations) (2006): AJCA Modifications to the Section 6011, 6111, and 6112 Regulations
- [68 FR 10161](https://www.federalregister.gov/documents/2003/03/04/03-4958/tax-shelter-regulations) (2003): Tax Shelter Regulations
- [67 FR 41324](https://www.federalregister.gov/documents/2002/06/18/02-15321/modification-of-tax-shelter-rules-iii) (2002): Modification of Tax Shelter Rules III

## Leading cases

- [United States v. KPMG LLP, 316 F. Supp. 2d 30 (D.D.C. 2004)](https://www.courtlistener.com/opinion/2578297/united-states-v-kpmg-llp/)

## Proposed regulations (not in force)

- [Prop. Treas. Reg. § 301.6111-3](/26/prop/301.6111-3_E7-18934.md): Disclosures of reportable transactions. (REG-103038-05, proposed 2007-09-26)

## Connections

Cites: § 6707A Penalty for failure to include reportable transaction information with return

Cited by: § 6112 Material advisors of reportable transactions must keep lists of advisees, etc.; § 6664 Definitions and special rules; § 6707 Failure to furnish information regarding reportable transactions

## Prior provisions

- A prior section 6111 was renumbered 6116 of this title.

## Amendments

- 1984-07-18: [Pub. L. 98-369](/26/act/98-369.md), 98 Stat. 677
- 1986-10-22: [Pub. L. 99-514](/26/act/99-514.md), 100 Stat. 2142
- 1997-08-05: [Pub. L. 105-34](/26/act/105-34.md), 111 Stat. 926
- 2004-10-22: [Pub. L. 108-357](/26/act/108-357.md), 118 Stat. 1581
- 2005-12-21: [Pub. L. 109-135](/26/act/109-135.md), 119 Stat. 2641