SEC Staff Releases Statement on Trump Accounts

The staffs in the SEC’s Division of Investment Management and Division of Corporation Finance have released a statement on considerations related to “Trump accounts.” Provisions related to such accounts were added to the Internal Revenue Code of 1986 (Section 530A) by the One Big Beautiful Bill Act (signed into law on July 4, 2025).

A Trump account is defined in the statement as “an individual retirement account (an ‘IRA’) subject to special rules on contributions, investments, distributions, and reporting during the period that begins when the initial [account] is established and ends on December 31 of the calendar year in which the account beneficiary attains age 17.” An individual eligible for a Trump account is one “(i) who has not attained age 18 before the close of the calendar year in which an election to establish an initial Trump account is made, (ii) for whom a social security number has been issued before the date on which the election is made, and (iii) for whom an election is made either by the Secretary or, if the Secretary has not made an election, by a person other than the Secretary at the time and in the manner prescribed by the Secretary.”

The statement primarily addresses the role of the U.S. Treasury secretary in administering and overseeing Trump accounts.