Trump Account Proposed Rules at OMB

The Office of Management and Budget (OMB) received two proposed rules from the Department of Treasury and Internal Revenue Service pursuant to the implementation of Trump accounts under the One Big Beautiful Bill Act. One rule is titled “Trump accounts under section 530A”, and the other “Election for Trump accounts contribution pilot program”. Treasury officials have indicated that regulations covering account establishment would be issued first, with additional guidance related to employer contributions coming at a later date. OMB generally completes reviews within 30-90 days, although it is likely that review of these proposals will be expedited.