Title 26, Internal Revenue CodeRelease 119-110

§9602 Management of Trust Funds

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

Last updated Sep 22, 2026|Official source

Summary

The Secretary of the Treasury must keep each trust fund created under subchapter A and send Congress a report each year about how each fund did in the past fiscal year and what is expected for the next 5 fiscal years. The report must be printed as a House document for that session of Congress. The Secretary must invest any part of a fund not needed for current withdrawals only in interest-bearing U.S. government obligations. Those can be bought when first issued or on the open market and can be sold at market price. Interest and any money from sales or redemptions must go back into the same trust fund.

Full Legal Text

Title 26, §9602

Internal Revenue Code, Source: USLM XML via OLRC

(a)Report

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)Investment

(1)In general

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)Sale of obligations

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)Interest on certain proceeds

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

Sep 22, 2026

Release point: 119-110