[Code of Federal Regulations]
[Title 26, Volume 14]
[Revised as of April 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 26CFR25.6001-1]

[Page 674]
 
                       TITLE 26--INTERNAL REVENUE
 
    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 
                               (CONTINUED)
 
PART 25_GIFT TAX; GIFTS MADE AFTER DECEMBER 31, 1954--Table of Contents
 
Sec.  25.6001-1  Records required to be kept.

    (a) In general. Every person subject to taxation under Chapter 12 of 
the Internal Revenue Code of 1954 shall for the purpose of determining 
the total amount of his gifts, keep such permanent books of account or 
records as are necessary to establish the amount of his total gifts 
(limited as provided by section 2503(b)), together with the deductions 
allowable in determining the amount of his taxable gifts, and the other 
information required to be shown in a gift tax return. All documents and 
vouchers used in preparing the gift tax return (see Sec.  25.6019-1) 
shall be retained by the donor so as to be available for inspection 
whenever required.
    (b) Supplemental data. In order that the Internal Revenue Service 
may determine the correct tax the donor shall furnish such supplemental 
data as may be deemed necessary by the Internal Revenue Service. It is, 
therefore, the duty of the donor to furnish, upon request, copies of all 
documents relating to his gift or gifts, appraisal lists of any items 
included in the total amount of gifts, copies of balance sheets or other 
financial statements obtainable by him relating to the value of stock 
constituting the gift, and any other information obtainable by him that 
may be necessary in the determination of the tax. See section 2512 and 
the regulations issued thereunder. For every policy of life insurance 
listed on the return, the donor must procure a statement from the 
insurance company on Form 712 and file it with the internal revenue 
officer with whom the return is filed. If specifically requested by an 
internal revenue officer, the insurance company shall file this 
statement direct with the internal revenue officer.

[T.D. 6334, 23 FR 8904, Nov. 15, 1958, as amended by T.D. 7012, 34 FR 
7691, May 15, 1969; T.D. 7517, 42 FR 58935, Nov. 14, 1977]