U.S. Code > Title 26 Internal Revenue Code > Subtitle I—Trust Fund Code (§§ 9500—9602) > CHAPTER 98—TRUST FUND CODE (§§ 9501—9602) > Subchapter B—General Provisions (§§ 9601—9602) > § 9602. Management of Trust Funds

§ 9602. Management of Trust Funds

(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.