In response to the emergency request memorandum submitted by the Department of the Treasury, OIRA is approving Treasury's request for emergency consideration of the Trump Accounts Qualified Class Contribution Application for a limited period. Prior to the expiration of this package, Treasury must undertake standard notice and comment procedures and describe in its next ICR submission all comments received and the extent to which commenters' recommendations were adopted.
Inventory as of this Action
Requested
Previously Approved
12/31/2026
6 Months From Approved
100
0
0
50
0
0
0
0
0
Section 70204 of the One, Big, Beautiful Bill Act (OBBBA), Public Law 119-21, added section 530A and related provisions to the Internal Revenue Code (IRC), establishing Trump Accounts as a new category of traditional individual retirement account for eligible individuals under age 18.
IRC section 530A(f) authorizes certain governmental entities and organizations described in section 501(c)(3) to make donor contributions benefiting Trump Account beneficiaries under specified statutory conditions.
The statute authorizes multiple contribution structures, including:
⢠Contributions benefiting all eligible Trump Account beneficiaries nationwide; and
⢠Contributions benefiting statutorily permitted qualified classes, including specified birth-year classes and statewide classes.
Treasury is responsible for administering these contribution structures, including reviewing donor eligibility, validating contribution structures, coordinating receipt and distribution of funds, and ensuring compliance with statutory limitations and operational requirements.
This information collection request (ICR) covers the reporting burden associated with preparing and submitting the application. The information will also be used to support execution of contribution agreements between Treasury and approved donor entities.
The Department of the Treasury (âTreasuryâ) requests emergency processing under the Paperwork Reduction Act (PRA), pursuant to 44 U.S.C. § 3507(j) and 5 C.F.R. § 1320.13, for an information collection associated with implementation of the Trump Accounts program established under sections 530A and 6434 of the Internal Revenue Code, as enacted by Public Law 119-21, commonly known as the One, Big, Beautiful Bill Act (âOBBBAâ). Specifically, Treasury requests emergency approval for the Qualified Class Contribution Application for Trump Accounts.
This application is necessary to permit eligible governmental entities and qualified nonprofit organizations to submit information required for Treasury to review, validate, accept, administer, and distribute donor contributions to Trump Accounts in accordance with statutory requirements.
The collections are needed before completion of normal PRA clearance procedures because Treasury must begin implementation activities for donor contributions on or immediately following the initial rollout of the Trump Accounts program, beginning July 4, 2026.
Implementing the qualified class donor contribution process during the programâs initial rollout and public launch is important because awareness, stakeholder engagement, and prospective donor interest are expected to be at their highest during the initial launch period. Delaying implementation for several months while completing the standard PRA process would significantly diminish the opportunity to engage prospective donors, postpone donor participation, delay voluntary donor contributions intended to benefit eligible children, and reduce the period during which those contributions may be invested for long-term growth.
The information collections are essential to Treasuryâs mission because Treasury is statutorily responsible for administering the Trump Accounts framework established by Congress, including acceptance, administration, and distribution of donor contributions authorized under section 530A(f).
Treasury cannot lawfully or operationally administer donor contributions without collecting the information reflected in these applications.
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Trump Accounts Qualified Class Contribution Application
Emergency Justification Memo - Trump Accounts Donor Application 2026-07-02.docx
Trump Accounts Qualified Class Contribution Application