The American Fintech Council (AFC) has issued a statement requesting regulatory clarity on the new Trump Accounts.
The Trump Accounts were part of the One Big Beautiful Bill, which was passed into law in 2025. These accounts are a new type of savings vehicle designed to benefit children under 18. For the moment, the federal government will fund these accounts with a one-time $1000 deposit for children born between January 1, 2025, and December 31, 2028. Others may contribute up to $ 5,000 per year, with totals growing tax-deferred, similar to an IRA. The money must be invested in index funds or ETFs. Once the child turns 18, they control the money. Several high-profile individuals have announced contributions to the Trump accounts, with the best-known being Michael and Susan Dell, who contributed $6.25 billion, or $250 per child, for those under 10 years of age living in middle- to lower-income zip codes.
Currently, the Internal Revenue Service (IRS) has issued a notice of rulemaking requesting feedback from interested parties. As part of this consultation, the AFC has submitted a comment letter requesting a precisely defined regulatory architecture that does not include “unnecessary friction.”
Phil Goldfeder, CEO of the AFC, says the viability of Trump Accounts needs a compliance architecture that ensures clarity and consistency.
Final regulations are expected in 2027, as clarity of the Trump Accounts is defined, including types of vehicles, reporting, and contributions
