The IRS issued a news release providing proposed regulations that outline how the Secretary of the Treasury will make contributions to the Trump Account under the pilot program established by the One Big Beautiful Bill enacted on July 4, 2025, and define eligibility requirements including U.S. citizenship, having a Social Security Number, and being claimed as a qualifying child by the individual making the election. Parents or guardians can make elections using Form 4547, with expecting parents able to participate before the tax year in which the child is born. [IR-2026-31, 03/06/26]
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