A bill to amend the Internal Revenue Code of 1954 relating to certain investments treated as distributions.

Amends the Internal Revenue Code to revise the restrictions on investment in tangible investment assets by individual retirement accounts and individually directed accounts. Allows such investments except for: (1) the acquisition of a tangible investment asset from the individual (or his or her beneficiaries) for whose benefit the account was created; or (2) the transfer (by distribution or otherwise) of a tangible investment asset from an account to the individual (or his or her beneficiaries) for whose benefit the account has been created.