The One Big Beautiful Bill Act introduces Trump Accounts as a novel, tax-advantaged savings vehicle under IRC Section 530A. As a CPA, understanding this new hybrid savings plan is crucial for advising clients on wealth building, employee benefits and tax compliance.
DESIGNED FOR
CPAs and other financial professionals
BENEFITS
- Gain a detailed technical analysis of Trump Accounts, covering their legislative framework, unique three-tiered contribution mechanisms (individual, tax-excludable employer under IRC Section 128, and federal pilot under IRC Section 6434), investment mandates and complex rules governing taxation and distributions at key age milestones.
- Dive into a comparative analysis against existing savings vehicles like 529 plans and custodial accounts and explore strategic considerations for individual taxpayers and employers, especially regarding the significant compliance burdens and non-discrimination requirements for employer programs.
HIGHLIGHTS
- Establishment and structure of the Trump Accounts under the One Big Beautiful Bill Act (OBBBA)
- Contribution limits and timing, with no contributions permitted before July 4, 2026
- Tax treatment of growth and distributions
- Withdrawal rules and beneficiary control
- Penalties and special circumstances, such as what happens to the account if the child dies before age 18