The IRS has issued new guidance intended to simplify gift tax reporting for individuals who contribute to Trump accounts, a new type of individual retirement account created for eligible children under the One Big Beautiful Bill Act. 

According to the Journal of Accountancy, Revenue Procedure 2026-25 establishes a safe harbor for individual donors who make one or more contributions to Trump accounts under Section 530A and meet certain requirements. If the conditions are satisfied, the IRS said those contributions will be treated as completed gifts that are not future interests in property, allowing them to qualify for the annual per-donee gift tax exclusion. Donors covered by the safe harbor will not need to file gift tax returns solely to report those contributions. 

Trump accounts were created for eligible minors, generally children with Social Security numbers who have not yet reached the calendar year in which they turn 18 before an election is made to open the account. The law also provides for a $1,000 federal contribution for eligible children born after Dec. 31, 2024, and before Jan. 1, 2029. 

The safe harbor follows earlier IRS guidance on the program. In March, the agency issued proposed regulations explaining how initial Trump accounts can be opened and how the $1,000 pilot contribution will operate. As of June 4, the IRS said it had received nearly 6 million elections to open Trump accounts.