The US Treasury Department and IRS issued Revenue Procedure 2026-25, providing a gift tax reporting safe harbour for individual contributions to Trump accounts established under section 530A of the Internal Revenue Code.
The Department of the Treasury and the Internal Revenue Service (IRS) announced, on 29 June 2026, that it issued Revenue Procedure 2026-25 providing a gift tax reporting safe harbour for certain contributions to Trump accounts created under the Working Families Tax Cuts.
This revenue procedure provides a transfer tax safe harbour for certain individual donors who make one or more contributions to Trump accounts established under section 530A of the Internal Revenue Code (Code).
In the interest of sound tax administration, for taxpayers within the scope of section 4 of this revenue procedure, contributions to Trump accounts will be treated as completed gifts that are not gifts of future interests in property and to which the annual per-donee gift tax exclusion applies. As a result, taxpayers within the scope of section 4 of this revenue procedure will not be required to file gift tax returns reporting such contributions.
“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 authorised individuals can use the IRS Individual Online Account to complete Form 4547, Trump Account Election(s), 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 US 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 USD 1,000 pilot program contribution to the child’s Trump account.
