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

Source: OLRC release point 119-134 <https://uscode.house.gov/us/usc/119-134/t26/s6112>. Cite pinpoints as 26 U.S.C. § 6112(a)(1).

## § 6112(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—

**§ 6112(a)(1)** identifying each person with respect to whom such advisor acted as a material advisor with respect to such transaction, and

**§ 6112(a)(2)** containing such other information as the Secretary may by regulations require.

## § 6112(b) Special rules

**§ 6112(b)(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)—

**§ 6112(b)(1)(A)** shall make such list available to the Secretary for inspection upon written request by the Secretary, and

**§ 6112(b)(1)(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.

**§ 6112(b)(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).

## Regulations

- [Treas. Reg. § 301.6112-1](/26/reg/301.6112-1.md): Material advisors of reportable transactions must keep lists of advisees, etc. (interprets § 6112)

## 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 43154](https://www.federalregister.gov/documents/2007/08/03/07-3787/ajca-modifications-to-the-section-6112-regulations) (2007): AJCA Modifications to the Section 6112 Regulations
- [68 FR 75128](https://www.federalregister.gov/documents/2003/12/30/03-31900/confidential-transactions) (2003): Confidential Transactions
- [68 FR 10161](https://www.federalregister.gov/documents/2003/03/04/03-4958/tax-shelter-regulations) (2003): Tax Shelter Regulations

## Leading cases

- [United States v. Arthur Andersen, 273 F. Supp. 2d 955 (N.D. Ill. 2003)](https://www.courtlistener.com/opinion/2340193/united-states-v-arthur-andersen-llp/)

## Connections

Cites: § 6111 Disclosure of reportable transactions; § 6707A Penalty for failure to include reportable transaction information with return

Cited by: § 6501 Limitations on assessment and collection; § 6708 Failure to maintain lists of advisees with respect to reportable transactions

## Prior provisions

- A prior section 6112 was renumbered 6116 of this title.

## Amendments

- 1984-07-18: [Pub. L. 98-369](/26/act/98-369.md), 98 Stat. 681
- 2004-10-22: [Pub. L. 108-357](/26/act/108-357.md), 118 Stat. 1582
- 2005-12-21: [Pub. L. 109-135](/26/act/109-135.md), 119 Stat. 2629