Treasury, IRS provide safe harbor for certain contributions to Trump Accounts under the Working Families Tax Cuts

IR-2026-80, June 29, 2026

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued Revenue Procedure 2026-25 PDF providing a gift tax reporting safe harbor for certain contributions to Trump accounts created under the Working Families Tax Cuts.

Under this safe harbor, if certain requirements are met, contributions made by individual donors to Trump accounts in a given year will not be subject to gift tax reporting requirements for that year.

“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,” said IRS Chief Executive Officer Frank J. Bisignano. “The relief granted will reduce the potential burden placed on friends and family who want to put money into a Trump account.”

Sign up for a Trump Account and the pilot program

Parents, guardians, and other authorized individuals, can use IRS Individual Online Account to complete Form 4547, Trump Account Election(s) PDF to elect to open the initial Trump account for a child with a Social Security number if the election to open the initial Trump account is made before the calendar year in which the child turns age 18. In addition, if that child is a U.S. citizen born in 2025 through 2028, the parent or other individual who qualifies to do so may check a box on Form 4547 to elect a $1,000 pilot program contribution to the child’s Trump account. 

Visit trumpaccounts.gov for more information on Trump Accounts. For more information on the provisions of the new legislation, see Working Families Tax Cuts Provisions on IRS.gov.