Trump Accounts Created by OBBBA: A Comprehensive Guide for Accounting and Finance Professionals
Description
This program provides a practical overview of Trump Accounts, a new and evolving type of IRA for eligible children, created under OBBBA. It incorporates updates from official guidance and takes a comprehensive look at account establishment, contribution rules, and tax treatment. It explains the distinction between the account under IRC § 530A and the pilot contribution program under IRC § 6434, along with employer contributions, salary-reduction arrangements, and coordination across multiple funding sources.
The program will also highlight key provisions from provider documents and procedures, cover investment limitations, distribution rules, and the transition to post-growth-period IRA rules beginning January 1 of the year the beneficiary turns 18. It addresses planning considerations and compliance risks, while distinguishing proposed rules from existing requirements.
Objective
Identify election, eligibility, and administrative requirements for establishing a Trump Account under IRC § 530A Distinguish between a Trump Account and the pilot contribution program under IRC § 6434 Determine eligibility for pilot contributions and participation in employer contribution programs Apply contribution rules, including salary-reduction arrangements and coordinated limits, to client scenarios Recognize growth-period investment and distribution restrictions and when post-growth-period IRA rules apply Compare Trump Accounts with other savings vehicles and identify planning opportunities and operational risks
Attendee Information
Denise Appleby, MJ, APA, CISP, CRPS, CRC
Required Knowledge
None
Credit Types
- CPE – Taxes
Registration Fees
| Registration | Type | Price |
|---|---|---|
| WRS74126: Registration – Member | Mem | $105 |
| WRS74126: Registration – Non-Member | NM | $230 |
The North Carolina Association of Certified Public Accountants is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org/.For information regarding refund, complaint, program cancellation or other policies, visit our Registration Policies page or call 800-469-1352.