González files bill to clear the way for Trump Accounts in Puerto Rico

Governor Jenniffer González Colón announced Friday, at the Annual Convention of the Certified Public Accountants Association at El Conquistador (Fajardo), the filing of an administration bill to enable federal “Trump Accounts” in Puerto Rico under a local tax framework. El Vocero identifies the measure as Administration Bill 156. El Nuevo Día, in its September 5 English version, labels it Administrative Bill 154 and focuses on the $1,000 seed angle for eligible newborns. This desk reports both bill-number attributions; it does not choose which prevails. The measure still has to pass through the legislative process.

The federal vehicle comes from Section 70204 of Public Law 119-21, which added Section 530A to the U.S. Internal Revenue Code: an individual retirement account that may be opened for a minor who has not turned 18 by the close of the application year and who has a valid Social Security number. Parents, guardians and other authorized persons may open them and contribute. Individuals and employers share a combined annual cap of $5,000, according to the IRS. Citizen minors born between January 1, 2025, and December 31, 2028, may receive a one-time $1,000 contribution from the U.S. Treasury Department if a parent, guardian or other authorized person completes enrollment — the account does not open on its own nor receive the seed automatically —. The money is invested in funds linked to the securities market. Contributions are allowed starting July 4, 2026.

González Colón spoke of giving families “more tools” to build a solid financial future early and of aligning the local tax system with that federal policy. Gabriella Boffelli, executive director of the Puerto Rico Federal Affairs Administration, said the office maintains conversations with federal officials on implementation. The definitive local scope depends on what the Legislative Assembly approves and on the provisions that enter the Puerto Rico Internal Revenue Code.

Fuente: El Vocero. https://www.elvocero.com/gobernadora-anuncia-proyecto-que-busca-abrir-paso-a-las-trump-accounts-en-puerto-rico/article_e94ab9c8-53b7-468b-a7c5-e2652d6a350b.html