India, March 8 -- The Internal Revenue Service (IRS) and the Treasury Department have released new guidance clarifying how Americans can open and manage so-called Trump Accounts as they near launch on July 4.

The updated rules, announced by the Treasury Department and the IRS, outline the process for opening the accounts, the responsibilities of guardians, and the investment options available. This marks a key step toward fully launching the program in 2026.

Trump Accounts were devised under the One Big Beautiful Bill Act, which was passed in 2025 and offers qualified babies a one-time $1,000 Treasury contribution.

IRS chief executive officer Frank J. Bisignano offered a new update on the rollout of the Trump Accounts on March 6.

He s...