Key Takeaways

• Robinhood will initially serve as the custodian for new Trump accounts beginning July 6, 2026.
• IRS Revenue Procedure 2026-25 introduces a safe harbor that eliminates many gift tax filing requirements for qualifying cash contributions.
• Parents should understand the long-term rules, including account restrictions before age 18 and potential Roth conversion planning afterward.

Trump Accounts Update: New IRS Guidance and What Families Need to Know

What’s Changed for Trump Accounts?

Trump accounts officially begin rolling out, with Robinhood serving as the initial custodian and new IRS guidance addressing one of the biggest concerns surrounding gift tax reporting. In this episode of Traction with the Tiger, Chris Wittich explains what has changed, what remains uncertain, and why families may benefit from waiting before opening an account.

He also discusses the long-term planning opportunities these accounts may create, including potential Roth conversion strategies once a child reaches age 18.

Frequently Asked Questions

When can Trump accounts be opened?

Trump accounts can begin opening on July 6, 2026, with Robinhood serving as the initial custodian.

Do contributions require filing a gift tax return?

Not always. IRS Revenue Procedure 2026-25 created a safe harbor that allows many taxpayers making qualifying cash contributions below the annual exclusion amount to avoid filing a gift tax return.

Can money be withdrawn before the child turns 18?

No. Funds remain locked until the year the child turns 18. At that point, the account converts into what is effectively treated as a traditional IRA owned by the child.

View transcript.