Trump Accounts Top 70 Million After Automatic Enrollment and Rule Changes
publishers 34articles 42first reported 30 Sep, 12:00 UTCdeveloping since 30 Sep · 18 editions
Nearly 70 million Trump Accounts have been created, including more than 60 million this month as part of the Treasury Department's auto-enrollment effort, CNBC reported. The tax-advantaged investment accounts previously required parents to submit an IRS form.
Children born from 2025 through 2028 who meet eligibility requirements can receive a $1,000 government-funded seed deposit. President Donald Trump said Wednesday that more than $4.5 billion had been deposited into the accounts through seed funding, contributions from families and friends, and philanthropic gifts.
Temporary IRS and Treasury regulations also permit donors to contribute individual stocks, rather than limiting account holdings to diversified, low-cost index funds. Donated shares generally must remain in an account for five years before being sold. IRS CEO Frank Bisignano told CNBC that several large donations are being prepared, including multiple potential gifts in the nine-digit range.
Ben Henry-Moreland, a certified financial planner, said donating appreciated stock may help donors avoid capital-gains taxes that could arise if they sold shares and donated the proceeds. He also said individual stocks carry greater investment risk. Bisignano said there would be no concentration risk across the overall account population, while Treasury’s regulations said individual account owners could face additional portfolio-concentration risk from stock contributions.
HOW THIS STORY WAS MADE
Written from 8 articles, 1 with the publisher's own text; 7 independent newsrooms once syndicated copies count as one; this version written 170 h after the record first saw the story; the editor revised it.
- Publishers
- 34
- Source articles
- 42
- Given to the writer
- 8, 1 with the article's own text
- Independent newsrooms
- 7
- This version written
- 170 h after the record first saw the story
- Second model (editor)
- revised
- Publication gate
- passed
- Human review
- none
WHAT THE EDITOR DID
The second model checked the writer's draft against the same sources and changed it before publication. Struck words were in the draft; underlined words are its corrections.
WHAT IT FLAGGED editor revise: The story needs small wording corrections to match CNBC and Fast Company on the timing and prior signup requirement. - "Nearly 70 million Trump Accounts have been created after the Treasury Department automatically enrolled more than 60 million eligible children this month, CNBC reported.": CNBC says nearly 70 million accounts have been created, including more than 60 million this month as part of automatic enrollment; it does not say the 70 million total happened after Treasury enrolled more than 60 million children. - "The tax-advantaged investment accounts previously required parents to file an IRS form.": The source says parents previously had to submit an IRS form to open an account, not necessarily file one.
THE DRAFT AND THE CHANGES
Trump Accounts Top 70 Million After Automatic Enrollment and Rule Changes
Nearly 70 million Trump Accounts have been createdcreated, after the Treasury Department automatically enrolledincluding more than 60 million eligible children this month,month as part of the Treasury Department's auto-enrollment effort, CNBC reported. The tax-advantaged investment accounts previously required parents to filesubmit an IRS form.
Children born from 2025 through 2028 who meet eligibility requirements can receive a $1,000 government-funded seed deposit. President Donald Trump said Wednesday that more than $4.5 billion had been deposited into the accounts through seed funding, contributions from families and friends, and philanthropic gifts.
Temporary IRS and Treasury regulations also permit donors to contribute individual stocks, rather than limiting account holdings to diversified, low-cost index funds. Donated shares generally must remain in an account for five years before being sold. IRS CEO Frank Bisignano told CNBC that several large donations are being prepared, including multiple potential gifts in the nine-digit range.
Ben Henry-Moreland, a certified financial planner, said donating appreciated stock may help donors avoid capital-gains taxes that could arise if they sold shares and donated the proceeds. He also said individual stocks carry greater investment risk. Bisignano said there would be no concentration risk across the overall account population, while Treasury’s regulations said individual account owners could face additional portfolio-concentration risk from stock contributions.
Written by a language model from the sources above, then checked by a second model that may only cut, attribute or correct. How it works →