Advisors Still Have Questions on Trump Accounts Ahead of July 4 Launch

Trump Accounts are scheduled to begin accepting contributions, with eligible children receiving a $1,000 federal deposit and families able to contribute additional funds under the new savings program. Erin Koeppel, CFP Board’s Managing Director of Government Relations & Public Policy Counsel, said recently issued Treasury and IRS guidance clarifies that parents, guardians and grandparents can contribute up to $5,000 annually without filing a gift tax return, but noted that many operational and tax questions raised by CFP Board — including fee structures and other implementation details — remain unresolved.

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