WASHINGTON, D.C. — The Internal Revenue Service and Treasury Department have issued guidance exempting certain contributions to newly created Trump accounts from federal gift tax reporting requirements, a move aimed at reducing administrative burdens for families and others contributing to the accounts.
Revenue Procedure 2026-25 establishes a safe harbor under which qualifying contributions made by individual donors to Trump accounts in a given year will not trigger gift tax reporting obligations, according to the agencies.
The guidance addresses concerns from prospective contributors who feared that deposits into the accounts could require the filing of federal gift tax forms.
“By granting this relief, the IRS has responded to concerns raised by taxpayers who planned to make contributions to a Trump account but worried such donations would trigger the gift tax reporting rules,” IRS Chief Executive Officer Frank J. Bisignano said in a statement.
Trump accounts were created under the Working Families Tax Cuts legislation and can be established for children with Social Security numbers before the calendar year in which the child turns 18.
Parents, guardians and other authorized individuals may open an account by completing Form 4547, Trump Account Election(s), through the IRS Individual Online Account system.
The guidance also outlines a pilot program under which certain U.S. citizen children born between 2025 and 2028 may receive a $1,000 contribution to their Trump account if an eligible parent or authorized individual elects to participate.
The reporting relief is intended to simplify contributions from relatives and family friends while the Treasury Department and IRS implement the new savings program.
Additional information on the accounts is available at trumpaccounts.gov, and details on the underlying legislation are available through IRS guidance on the Working Families Tax Cuts provisions.
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