Trump Accounts (REG-117270-25)

Finseca, a trade association representing over 500,000 financial professionals, supports the creation of Trump Accounts as a tool for long-term financial security. They argue that the IRS should adopt regulations that facilitate professional financial planning, simplify account transitions to IRAs, and clarify that professional advice fees are not subject to the investment cost cap.

America’s Credit Unions, an advocacy organization representing credit unions, supports the proposed rule for Trump accounts but seeks specific operational clarifications. They argue for rules that ensure credit unions can act as trustees, including guidance on investment structures, fee caps, and simplified rollover procedures to ensure the statutory choice for families is practical.

The National Disability Institute (NDI) supports the proposed Trump Accounts but requests additional guidance on account definitions, eligibility for foster and homeless youth, and investment flexibility. They also advocate for expanded ABLE rollover provisions and explicit exclusions of these accounts from means-tested benefits to better support individuals with disabilities.

America’s Credit Unions, an advocacy organization representing credit unions, supports the proposed rule for Trump accounts but seeks specific operational clarifications. They argue for rules that ensure credit unions can act as trustees, including guidance on investment structures, fee caps, and simplified rollover procedures to ensure the statutory choice for families is practical.

The Stable Value Investment Association (SVIA) supports the creation of "Trump accounts" and the associated pilot program for youth savings. However, they request that the Treasury Department expand the definition of eligible investments to include stable value products to provide capital preservation and mitigate market volatility for young savers.

The Office of the Comptroller of Maryland, in collaboration with the Greater Washington Community Foundation and the CASH Campaign of Maryland, supports the creation of "Trump accounts" but recommends specific improvements to the proposed regulations. They advocate for incorporating features from "baby bonds" programs, such as auto-enrollment at birth, protections for children in foster care, tax-exempt status for means-tested programs, and the use of pooled trust structures to maximize returns.

Deborah B. Goldberg, the Massachusetts State Treasurer and Receiver General, supports the proposed Trump Accounts but requests specific modifications to improve implementation. She advocates for clearer state-federal information sharing, the ability for states to open accounts on behalf of residents, the inclusion of financial education components, automatic enrollment for eligible children, and the expansion of eligibility to non-citizens.