The IRS has issued new guidance regarding Trump Accounts, including the release of Notice on Trump Accounts, draft Form 4547, and related draft instructions. As this new program continues to take shape, staying informed will be essential for families and advisors preparing for its implementation.
To help taxpayers and practitioners monitor developments, the IRS has also introduced a new resource outlining a timeline of released guidance, along with key insights into how the program is expected to function once effective.
Overview of Trump Accounts
Trump Accounts are designed to support long-term savings for eligible children, with federal “seed” contributions initiating each account. While final regulations are still forthcoming, the IRS has signaled several important features and planning considerations.
Program Availability
The Trump Account program is expected to become available in mid-2026, with federal contributions scheduled to begin on July 4, 2026.
Eligibility is limited to:
Eligible Beneficiaries
Eligibility for Trump Accounts is limited to children who have not yet reached age 18 by the end of the calendar year and who have a valid Social Security Number. Each qualifying child may have only one funded Trump Account.
Account Setup
Accounts will be established by an authorized individual, which may include:
- A parent
- A legal guardian
- An adult sibling
- A grandparent
The authorized individual will serve as the trustee during the child’s minority, overseeing the account throughout its designated “growth period.”
Setup will be completed using IRS Form 4547 or via an expected online portal, according to the draft instructions released in December 2025.
Planning Considerations
As with any federally funded savings program, there are potential planning opportunities.
Once the initial governmental seed money is deposited, families may want to evaluate the benefits of completing a 100% trustee-to-trustee transfer to a qualified financial institution of their choosing. This strategy may provide greater flexibility in managing the account, depending on final regulations and custodial options.
Advisors should monitor forthcoming regulatory updates to ensure proper handling and compliance once transfers are permitted.
What Comes Next?
The IRS has announced a notice of intent to issue regulations interpreting Section 530A, which governs Trump Accounts. Final instructions for Form 4547 and updated rules for account administration are expected as we approach the program’s launch.
Our firm will continue to review new releases as they become available and provide timely updates to keep you informed.