Trump accounts, established under H.R. 1, P.L. 119-21, the law known as the One Big Beautiful Bill Act (OBBBA) under Sec. 530A, are new tax-advantaged savings accounts designed to help families build financial security for minors.
On June 29, 2026, the IRS issued Rev. Proc. 2026-25, which provides a safe harbor for certain Trump account contributions, allowing them to qualify for the annual gift tax exclusion without the need to file a gift tax return.
On May 28, 2026, the