A new bill in the U.S. House would enable philanthropic organizations and states to make unlimited contributions to Sec. 530A accounts (also known as Trump accounts) on behalf of children in foster care. Currently, most 530A accounts aren’t eligible to receive unlimited contributions. If passed and signed into law, the Foster Youth Investment Act would create a new qualified class of children under state or tribal government guardianship. In June 2026, the Treasury Dept. authorized child welfare agencies to open 530A accounts for children in their care. Allowing unlimited contributions is considered the next phase in a larger goal to provide foster youth with greater financial security.
