Washington, D.C. (May 29, 2026) – The American Institute of CPAs (AICPA) requested the Department of Treasury and the Internal Revenue Service (IRS) provide guidance on proposed regulations for Trump Accounts. The AICPA’s comment letter identified several areas where additional guidance will be needed in future proposed regulations addressing contributions, distributions and investment-related rules.
The AICPA’s letter focuses on responding to the specific requests for comment included in the proposed regulations, citing recommendations and requesting guidance on the following matters related to the election to open a Trump account:
The AICPA recommends that Treasury and the IRS issue final regulations clarifying the definition of “available” in the context of determining whether an individual is authorized to open a Trump account. The term “available” is unclear when determining whether a lower-priority list individual would become eligible to make an election.
The AICPA recommends that Treasury and the IRS issue final regulations clarifying that the default responsible party be the legal guardian, or fiduciary (if different) of the eligible child. The proposed regulations provide that the default responsible party for a Trump account is the authorized individual that elects to establish the account. However, the regulations acknowledge an alternative where the legal guardian would be the default responsible party.
“Clarifying the definition of ’available’ for purposes of a Trump account election will provide certainty as to who is authorized to act,” says Scott Klein, Senior Manager, AICPA Tax Policy & Advocacy. “Without such clarification, individuals may be uncertain when they are permitted to make an election. In addition, designating the legal guardian or fiduciary as the default responsible party will ensure that account control rests with an individual legally responsible for the child’s wellbeing. The recommendations in this letter will provide much-needed clarity to taxpayers and practitioners and help to facilitate the administrability of these accounts.”
About the American Institute of CPAs
The American Institute of CPAs (AICPA) is the world’s largest member association representing the CPA profession, with a history of serving the public interest since 1887. AICPA members represent many areas of practice, including business and industry, public practice, government, education, and consulting. A founding member of the Association of International Certified Professional Accountants, the AICPA sets ethical standards for the profession, attestation standards, and U.S. auditing standards for private companies, not-for-profit organizations, and federal, state, and local governments. It develops and grades the Uniform CPA Examination, offers specialized credentials, partners across the profession to build future talent, and drives continuing education to advance the vitality, relevance, and quality of the profession.
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Background:
February 25, 2026 - AICPA Comments Requesting IRS Guidance on Newly Enacted Limitation on Itemized Deductions and Trump Accounts