U.S. FEDRegulation
Treasury and IRS issue temporary Trump Accounts regulations with automatic enrollment
The Treasury Department and the IRS issued temporary regulations (T.D. 10056), effective Sept. 30, for Trump Accounts, the tax-favored savings accounts for children under section 530A. On or about Oct. 1, Treasury will elect to open 'auto accounts' for eligible children who lack one, held in a master group trust until a guardian claims them. The rules also set requirements for qualified general contributions, including gifts of publicly traded stock.
Text (Federal Register) → · Thomson Reuters Tax & Accounting, Journal of Accountancy, Wealth Strategies Journal
Key points
- The rules took effect Sept. 30; the IRS invoked good cause to skip advance comment, citing the need to open accounts before growth periods shorten.Federal RegisterThomson Reuters Tax & Accounting
- Treasury will elect auto accounts for eligible children around Oct. 1 and expects over 60 million more children to have accounts in 2026.Federal RegisterThomson Reuters Tax & Accounting
- A guardian or custodian must 'claim' an auto account by verifying identity and §6103 authority before the balance transfers.Thomson Reuters Tax & Accounting
- The March 2026 proposed regulations (REG-117270-25) are withdrawn; a companion proposal asks whether beneficiaries may disclaim an auto account.Federal RegisterThomson Reuters Tax & Accounting
- The temporary rules, T.D. 10056 at 91 FR 61705, add 26 CFR 1.530A-1T through 1.530A-7T.Federal Register
Sources4 articles across 4 outlets
Federal Register
Journal of Accountancy
Thomson Reuters Tax & Accounting
Wealth Strategies Journal
Filed under
RegulationU.S.Trump Accounts Temporary RegulationsFinancial servicesTaxFor practitionersFor governance