Section 70204 of Public Law 119 21, 139 Stat. 72 (July 4, 2025), commonly referred to as the One, Big, Beautiful Bill Act, in relevant part, added new section 530A to the Internal Revenue Code (IRC). IRC Section 530A provides for the establishment of a Trump account for an eligible individual and for rules related to investments in a Trump account. The temporary regulations include reporting by account beneficiaries or responsible parties to claim an auto account, and third-party disclosures and associated recordkeeping requirements from trustees to account beneficiaries or responsible parties about delisting events. Form 4547 and Form 8879-TA will be used to make the elections to claim the $1,000 pilot program contribution.
The Department of the Treasury and the Internal Revenue Service (IRS) request processing of an Information Collection Request (OMB Control Number 1545-2336, Trump Accounts), under emergency procedures in connection with provisions of sections 70204 of Public Law 119-21, commonly known as the One, Big, Beautiful Bill Act (OBBBA).
Section 530A provides for the creation of Trump accounts, a type of traditional individual retirement account (IRA) established for the exclusive benefit of an eligible individual who satisfies the requirements of section 530A. Section 530A(b)(1)(A)(i) provides that a Trump account must initially be created or organized by the Secretary of the Treasury for the exclusive benefit of an eligible individual or such eligible individualâs beneficiaries. Section 530A(b)(1)(B) provides that an account must be designated as a Trump account at the time of its establishment in such manner as the Secretary shall prescribe. Section 530A(b)(2)(C)(i) authorizes the Secretary to make an election for an individual to be an eligible individual for the establishment of a Trump account.
The IRS will be issuing temporary regulations before Oct 1, 2026 that provide for the automatic creation of Trump accounts for all eligible children. Within the temporary regulations, section 1.530A-1T(b)(5) defines the terms initial Trump account, auto account, and claimed initial Trump account. Section 1.530A-1T(c)(2) provides rules for the written governing instrument of a Trump account. Section 1.530A-1T(f) provides rules for claiming an auto account. Section 1.530A-7T(d)(5) requires that a Trump account trustee provide a disclosure to a beneficiary when stock held in a Trump account is either de-listed from a national securities exchange, and §1.530A-7T(d)(6) requires the same when Trump account receives cash or other property that is not successor qualified stock.
To carry out the auto enrollment process and the associated collection requirements, IRS needs to allow account beneficiaries (or âresponsible partiesâ) the ability to claim an auto account. Also, as part of the written governing instruments for the accounts, trustees need to inform the account beneficiaries, or responsible parties, of events such as stock delisting or the generation of assets, such as cash proceeds from a stock dividend, that may not be kept in a Trump account. These temporary regulations enable the government to accomplish all these objectives with the associated new collections of information.
Without the new collections of information required by the temporary regulations, immediate and specific public harm would result. The Administration aims to ensure the 44 million families with children under age 18 benefit from the qualified general contributions allowed under Section 530A(f). To achieve this goal, the Administration plans to establish auto accounts for children on or after October 1, 2026, so that these children may receive qualified general contributions. The goal of implementing automatic enrollment of children into Trump accounts would be hindered without beneficiaries and responsible parties being able to claim auto accounts, as claiming is required for the responsible party to direct the account assets.
More importantly, IRS and Treasury have received intense demand from the public and outside stakeholders to create the automatic enrollment process. After the OBBBA passed in July 2025, IRS and Treasury began an effort to provide guidance to taxpayers for the Trump Accounts. Treasury and the IRS have held various listening sessions with various stakeholders to receive input on implementation of the new law, including the Council for Electronic Revenue Communication Advancement and Internal Revenue Service Advisory Council, and others. On March 9, 2026, the Treasury Department and the IRS published a notice of proposed rulemaking (REG-117270-25) addressing elections to establish initial Trump accounts.
PL: Pub.L. 119 - 21 70204 Name of Law: One Big Beautiful Bill
US Code: 26 USC 1.530A-1T(f), 1.530A-7T(d)(5) Name of Law: Trump Accounts
PL: Pub.L. 119 - 21 139 Name of Law: One, Big, Beautiful Bill Act
The temporary regulations include reporting by account beneficiaries or responsible parties and third-party disclosures and associated recordkeeping requirements from trustees to account beneficiaries or responsible parties are new. The increase in burden is due to the new collection requirements required to claim an auto account (1.530A-1T(f)) and the beneficiary disclosure when stock held in a Trump account is either de-listed from a national securities exchange or generates property that is not successor qualified stock (1.530A-7T(d)(5)).
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.
Form 8879-TA IRS e-file Signature Authorization for Form 4547, Trump Account Election(s)
1545-2336_Trump Accounts Emergency Justification - 9-25-2026.docx
Notice 2025-68.pdf
Beneficiary disclosure