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26 U.S.C. § 6434 — Trump accounts contribution pilot program
Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** In the case of an individual who makes an election under this section with respect to an eligible child of the individual, such eligible child shall be treated as making a payment against the tax imposed by subtitle A (for the taxable year for which the election was made) in an amount equal to $1,000.
**(b) Refund of payment** The amount treated as a payment under subsection (a) shall be paid by the Secretary to the Trump account with respect to which such eligible child is the account beneficiary.
**(c) Eligible child** For purposes of this section, the term “eligible child” means a qualifying child (as defined in section 152(c))—
(1) who is born after December 31, 2024, and before January 1, 2029,
(2) with respect to whom no prior election has been made under this section by such individual or any other individual, and
(3) who is a United States citizen.
**(d) Election** An election under this section shall be made at such time and in such manner as the Secretary shall provide.
**(e) Social security number required**
(1) **In general** — This section shall not apply to any taxpayer unless such individual includes with the election made under this section the social security number of the eligible child with respect to whom the election is made.
(2) **Social security number defined** — For purposes of paragraph (1), the term “social security number” shall have the meaning given such term in section 24(h)(7), determined by substituting “before the date of the election made under section 6434” for “before the due date of 11 So in original. Probably should be “for”. such return” in subparagraph (B) thereof.
**(f) Exception from reduction or offset** Any payment made to any individual under this section shall not be—
(1) subject to reduction o
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 6434
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Stable record: federal_law:legal_authorities:record_usc_887274292c2c44ae011c4af3
Source file: Laws/federal/codes/united-states-code/title-26/section-6434-trump-accounts-contribution-pilot-program--f4d1aaca80.md
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Passage SHA-256: d482b2ed675ce15797c6d349e160876b119160b9e16591fccbe753d34b62327d
Source location: Title 26, Chapter 65, § 6434; chapter-065-abatements-credits-and-refunds.md
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**(a) In general** In the case of an individual who makes an election under this section with respect to an eligible child of the individual, such eligible child shall be treated as making a payment against the tax imposed by subtitle A (for the taxable year for which the election was made) in an amount equal to $1,000.
**(b) Refund of payment** The amount treated as a payment under subsection (a) shall be paid by the Secretary to the Trump account with respect to which such eligible child is the account beneficiary.
**(c) Eligible child** For purposes of this section, the term “eligible child” means a qualifying child (as defined in section 152(c))—
(1) who is born after December 31, 2024, and before January 1, 2029,
(2) with respect to whom no prior election has been made under this section by such individual or any other individual, and
(3) who is a United States citizen.
**(d) Election** An election under this section shall be made at such time and in such manner as the Secretary shall provide.
**(e) Social security number required**
(1) **In general** — This section shall not apply to any taxpayer unless such individual includes with the election made under this section the social security number of the eligible child with respect to whom the election is made.
(2) **Social security number defined** — For purposes of paragraph (1), the term “social security number” shall have the meaning given such term in section 24(h)(7), determined by substituting “before the date of the election made under section 6434” for “before the due date of 11 So in original. Probably should be “for”. such return” in subparagraph (B) thereof.
**(f) Exception from reduction or offset** Any payment made to any individual under this section shall not be—
(1) subject to reduction or offset pursuant to subsection (c), (d), (e), or (f) of section 6402 or any similar authority permitting offset, or
(2) reduced or offset by other assessed Federal taxes that would otherwise be subject to levy or collection.
**(g) Special rule regarding interest** The period determined under section 6611(a) with respect to any payment under this section shall not begin before January 1, 2028.
**(h) Mirror code possessions** In the case of any possession of the United States with a mirror code tax system (as defined in section 24(k)), this section shall not be treated as part of the income tax laws of the United States for purposes of determining the income tax law of such possession unless such possession elects to have this section be so treated.
**(i) Definitions** For purposes of this section, the terms “Trump account” and “account beneficiary” have the meaning given such terms in section 530A(b).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Gross income of an employee does not include amounts paid by the employer as a contribution to the Trump account of such employee or of any dependent of such employee if the amounts are paid or incurred pursuant to a program which is described in subsection (c).
**(b) Limitation**
(1) **In general** — The amount which may be excluded under subsection (a) with respect to any employee shall not exceed $2,500.
(2) **Inflation adjustment**
(A) *In general* — In the case of any taxable year beginning after 2027, the $2,500 amount in paragraph (1) shall be increased by an amount equal to—
(i) such dollar amount, multiplied by
(ii) the cost-of-living adjustment determined under section 1(f)(3) for the calendar year in which the taxable year begins by substituting “calendar year 2026” for “calendar year 2016” in subparagraph (A)(ii) thereof.
(B) *Rounding* — If any increase determined under subparagraph (A) is not a multiple of $100, such increase shall be rounded to the next lowest multiple of $100.
**(c) Trump account contribution program** For purposes of this section, a Trump account contribution program is a separate written plan of an employer for the exclusive benefit of his employees to provide contributions to the Trump accounts of such employees or dependents of such employees which meets requirements similar to the requirements of paragraphs (2), (3), (6), (7), and (8) of section 129(d).
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 128
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