Financial planners say Trump Accounts could give children a new way to build tax-free retirement savings through Roth IRAs, creating what one tax attorney described as a "legal backdoor" that was previously unavailable to most minors.
In a CNBC report published Wednesday, Adam Bergman, founder of IRA Financial, said the structure of Trump Accounts allows children to begin building retirement assets even without earned income, a requirement that normally prevents most minors from contributing to a Roth IRA.
"Trump Accounts create a legal backdoor into a Roth IRA that does not require a child to have earned income, something that was simply not possible before," Bergman said.
Trump Accounts, also known as 530A accounts, are tax-advantaged investment accounts for children created under President Donald Trump's One Big Beautiful Bill Act.
Eligible children can receive a $1,000 government-funded contribution, while families, employers and other contributors can add money over time.
