Departments Issue New Proposed and Temporary Rules on Trump Accounts; Comments Due November 30

The U.S. Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued guidance on Trump accounts, withdrawing prior proposed rules and issuing new proposed and temporary rules.

The new guidance withdraws a March 9, 2026, proposed rule regarding the election to establish an initial Trump account and addresses general requirements for Trump accounts, establishment of an initial account (including automatic enrollment by the Secretary of the Treasury), and qualified general contributions, including qualified stock contributions.

The proposed and temporary rules would affect Trump account trustees, beneficiaries, responsible parties, and eligible donors making qualified general contributions.