{"id":78793,"date":"2026-03-18T08:00:00","date_gmt":"2026-03-18T13:00:00","guid":{"rendered":"https:\/\/taxprocenter.proconnect.intuit.com\/?p=78793"},"modified":"2026-03-18T09:55:18","modified_gmt":"2026-03-18T14:55:18","slug":"trump-accounts-what-you-need-to-know","status":"publish","type":"post","link":"https:\/\/accountants.intuit.com\/taxprocenter\/tax-law-and-news\/trump-accounts-what-you-need-to-know\/","title":{"rendered":"Trump Accounts: What you need to know"},"content":{"rendered":"\n

One of the provisions in the Big, Beautiful Bill Act<\/a> (OB3) for tax year 2026 is the Trump Account. Designed to build long-term wealth, Trump Accounts are tax-advantaged, IRA-style investment accounts for US children under 18 years old. in early March, the Department of the Treasury and the IRS issued\u00a0proposed regulations<\/a>\u00a0providing guidance regarding the pilot program.<\/p>\n\n\n

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Launching in 2026, they allow for a $1,000 initial federal contribution for children born 2025\u20132028. Voluntary contributions can be made to the account of up to $5,000 annually, and $2,500 of the voluntary contribution can come from an employer.<\/p>\n\n\n\n

Trump accounts can be established on behalf of every eligible American child, and a  Social Security number is required. Funds are locked until age 18; then, the accounts become traditional IRAs.<\/p>\n\n\n\n

Children born before January 1, 2025 and under age 18 will also still be eligible for the Trump Account, but they do not get the $1,000 deposit from the government.<\/p>\n\n\n\n

On March 9, the Department of the Treasury and the Internal Revenue Service issued\u00a0proposed regulations<\/a>\u00a0providing guidance regarding the pilot program for Trump Accounts, which are a new type of individual retirement account for eligible children. Trump Accounts and the Trump Account Pilot Program were established under the One, Big, Beautiful Bill enacted on July 4, 2025.<\/p>\n\n\n\n

 Key Features:<\/strong><\/p>\n\n\n\n