WASHINGTON, D.C. — The Internal Revenue Service issued a notice of proposed rulemaking and withdrawal of prior proposed rulemaking regarding Trump accounts on September 29, 2026. The proposed regulations estimate that 63,360,000 individuals will be automatically enrolled in Trump accounts.

A qualified geographic area must have not less than 5,000 account beneficiaries residing in it. Disclaimers of auto accounts are permitted only if the account has not received a $1,000 pilot program contribution.

The proposed regulations withdraw prior notice of proposed rulemaking REG-117270-25. Written or electronic comments on the proposed regulations must be received within 60 days of publication in the Federal Register.

Section 530A(b)(1)(A)(i) provides that an individual's first Trump account is to be created or organized by the Secretary of the Treasury. The master group trust used in Trump Accounts is exempt from tax under IRC Section 408(e), allowing pooled investment without individual account-level data disclosure.

Why It Matters

The new regulations replace a prior proposal that was withdrawn due to low participation rates under an opt-in system. Donald Trump has a long history of involvement in tax policy and financial regulations, including his own personal tax returns and advocacy for tax reform during his presidential campaigns.

Timeline

On September 29, 2026, the Internal Revenue Service issued a notice of proposed rulemaking and withdrawal of prior proposed rulemaking regarding Trump accounts. The proposed regulations withdraw prior notice of proposed rulemaking REG-117270-25 on the same date.

The proposed regulations estimate that 63,360,000 individuals will be automatically enrolled in Trump accounts on September 29, 2026.

The Internal Revenue Service estimates that 2,740 small business trustees will be affected by the new regulations on September 29, 2026. The Internal Revenue Service estimates the total anticipated future number of Trump account trustees will be 4,600 on September 29, 2026.

An estimated 63,360,000 respondents face a new third-party disclosure and recordkeeping requirement for claiming auto accounts on September 29, 2026. An estimated 27,717 respondents face disclosure requirements when stock is de-listed or generates non-successor property on September 29, 2026.

What's New

In 2025, the IRS withdrew a prior notice of proposed rulemaking (REG-117270-25) related to Trump Accounts, citing concerns over low participation rates under an opt-in system. Donald Trump attended the Texas-Tennessee football game at Neyland Stadium.

The Federal Register, established in 1935, serves as the official journal of the federal government for rules, proposed rules, and notices of federal agencies. President Donald Trump is not permitted to withhold more than $800 million in spending approved by Congress beyond the end of the fiscal year, according to a Government Accountability Office review.

How Sources Differ

Regarding the detail gap on Trump accounts, the Internal Revenue Service Notice of Proposed Rulemaking CC-00226466-26 states that the IRS estimates the total anticipated future number of Trump account trustees will be 4,600. The Federal Register states that the IRS estimates that the new Trump Account regulations will affect approximately 63,360,000 individuals through auto-enrollment, with an estimated 2,740 small business trustees impacted by the changes.