Title 26 — Internal Revenue CodeRelease 119-73

§9602 Management of Trust Funds

Title 26 › Subtitle Subtitle I— Trust Fund Code › Chapter 98— TRUST FUND CODE › Subchapter B— General Provisions › § 9602

Last updated Apr 6, 2026|Official source

Summary

The Secretary of the Treasury holds each federal trust fund created under this part of the tax code and must report to Congress every year on each fund's finances — how it did last fiscal year and how it is expected to do over the next 5 fiscal years. The Secretary must also invest any money in these funds that is not needed for current withdrawals. Investments can only be made in interest-bearing U.S. government obligations, bought either at original issue or at market price. The funds can sell those obligations at market price, and any interest or sale proceeds go back into the trust fund.

Full Legal Text

Title 26, §9602

Internal Revenue Code — Source: USLM XML via OLRC

(a)It shall be the duty of the Secretary of the Treasury to hold each Trust Fund established by subchapter A, and (after consultation with any other trustees of the Trust Fund) to report to the Congress each year on the financial condition and the results of the operations of each such Trust Fund during the preceding fiscal year and on its expected condition and operations during the next 5 fiscal years. Such report shall be printed as a House document of the session of the Congress to which the report is made.

(b)(1)It shall be the duty of the Secretary of the Treasury to invest such portion of any Trust Fund established by subchapter A as is not, in his judgment, required to meet current withdrawals. Such investments may be made only in interest-bearing obligations of the United States. For such purpose, such obligations may be acquired—

(A)on original issue at the issue price, or

(B)by purchase of outstanding obligations at the market price.

(2)Any obligation acquired by a Trust Fund established by subchapter A may be sold by the Secretary of the Treasury at the market price.

(3)The interest on, and the proceeds from the sale or redemption of, any obligations held in a Trust Fund established by subchapter A shall be credited to and form a part of the Trust Fund.

Reference

Citations & Metadata

Citation

26 U.S.C. § 9602

Title 26 — Internal Revenue Code

Last Updated

Apr 6, 2026

Release point: 119-73