On June 29, 2026, the Treasury Department and the IRS released Revenue Procedure 2026‑25, establishing a gift‑tax reporting safe harbor for contributions made to Trump accounts created under the Working Families Tax Cuts. The safe harbor applies when specific conditions are met, meaning individual donors can give to a Trump account without triggering annual gift‑tax reporting requirements. IRS Chief Executive Officer Frank J. Bisignano said the relief addresses taxpayers’ concerns that such donations could invoke gift‑tax rules, easing the burden on friends and family. Parents and guardians can use the IRS Individual Online Account to file Form 4547 and elect to open a Trump account for a child before they turn 18. For children born 2025‑2028, a $1,000 pilot‑program contribution can be elected. Further details are available at trumpaccounts.gov and IRS.gov.
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