The U.S. Department of the Treasury and the Internal Revenue Service (IRS) are hosting a virtual government-to-government consultation on temporary regulations for "Trump Accounts." Established under the Working Families Tax Cut Act, these tax-advantaged individual retirement accounts (IRAs) are designed to build long-term financial security for eligible youth under 18.
The consultation will focus on how these regulations apply in Indian Country, including:
Mechanisms for Tribal governments to fund accounts directly through "qualified general contributions."
Addressing barriers to the "automatic enrollment" and account claiming processes for Native families.
Assisting Tribal child welfare agencies in managing accounts for children in their care.
This consultation is closed to the press. Each Tribal Nation is asked to designate one primary speaker; others may attend in listen-only mode.
