### Question
How does the law define subsequently listed transaction?


### Answer
Under *26 U.S.C. § 4965*, **subsequently listed transaction** is defined as:

> any transaction to which a tax-exempt entity is a party and which is determined by the Secretary to be a listed transaction at any time after the entity has become a party to the transaction

#### Citation:
  - *26 U.S.C. § 4965*
  - Heading: **Subtitle D-Miscellaneous Excise Taxes > CHAPTER 42-PRIVATE FOUNDATIONS; AND CERTAIN OTHER TAX-EXEMPT ORGANIZATIONS > Subchapter F-Tax Shelter Transactions**

