American employers can create contribution programs for Trump Accounts, the Treasury Department announced on Tuesday.
Employers can give up to $2,500 a year into the account as a workplace benefit, and they can also allow workers to put their money into a dependent’s account pre-tax.
“Trump Accounts are giving American families a new way to build wealth from day one,” Treasury Secretary Scott Bessent said in a statement.
“Today, Treasury is publishing guidance that will help families grow Trump Accounts by allowing employers to contribute up to $2,500 tax-free each year for employees’ dependents and giving employees the option to contribute pre-tax dollars directly to those accounts,” he added.
Trump Accounts are giving American families a new way to build wealth from day one.
— Treasury Secretary Scott Bessent (@SecScottBessent) August 11, 2026
Today, Treasury is publishing guidance that will help families grow Trump Accounts by allowing employers to contribute up to $2,500 tax-free each year for employees’ dependents and giving…
The department said that at least 50 companies will be doing their own contributions to the newly-launched investment accounts for children. Large financial companies like Visa and Chime are part of the initial group.
“This guidance will provide a framework for businesses establishing a Trump Account employer contribution program, a new benefit for American working families,” IRS Chief Executive Officer Frank Bisignano stated. “We have worked with more than 50 of the largest employers in the country to prepare them for Trump Accounts and are proud to share their outlook on this new option.”
The accounts have been the subject of bipartisan praise, as an additional $1,000 contribution is possible for many qualifying families. However, House Ways and Means Committee Ranking Member Richard Neal (D-MA) has criticized the program as a slippery slope to Social Security privatization.
“Today, the Treasury Secretary said the quiet part out loud: Republicans’ ultimate goal is to privatize Social Security, and there isn’t a backdoor they won’t try to make Wall Street’s dream a reality,” Neal stated July 30.
“For everyone else though, it’s yet another warning sign that they cannot be trusted to safeguard the program millions rely on and have paid into over a lifetime of work,” Neal continued.
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