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IRS update: Official rules proposed for $1,000 payments via Trump accounts

The IRS and Treasury propose new rules to create Trump Accounts for eligible children as part of 2026 policy changes.
Eligible children would receive a one-time $1,000 contribution into a newly created Trump Account, with families able to add deposits later.
The program targets children born 2025–2028 who are U.S. citizens with valid Social Security numbers.
Accounts would limit investments to index-tracking funds focused on U.S. stocks to encourage long-term growth.
Withdrawals are generally not allowed until the year the beneficiary turns 18, after which the account resembles a traditional IRA for tax purposes.
The overall annual contribution cap is $5,000, with $2,500 annually possible from family members or employers.
Families must elect the pilot and submit Form 4547; the deadline is December 31 of the year the child turns 17.
Treasury Secretary Scott Bessent frames Trump Accounts as a key part of the new law to help families build assets.
The pilot deposit would be funded after July 4, 2026, with the expectation of broad participation.
Officials state the program aims to boost long-term financial assets for families through federally backed accounts.
The article lists related context on U.S. news, social programs, and various sports and entertainment topics surrounding the policy.

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