Trump Account Investment Rule Clears OMB

The Office of Management and Budget (OMB) concluded its review of a proposed rule, Eligible Investments for Trump Accounts under Section 530A, from the Department of Treasury. The proposed regulation is expected to provide guidance under Internal Revenue Code Section 530A regarding the types of eligible investments that may be invested in a Trump account during the growth period. The growth period ends before January 1 of the calendar year in which the account beneficiary attains age 18. Treasury could release the rule at any time.