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139 STAT. 180 PUBLIC LAW 119–21—JULY 4, 2025 not attained the age of 18 before the end of the calendar year, or such individual’s beneficiaries, and ‘‘(II) funded by a qualified rollover contribu- tion. ‘‘(B) The account is designated (in such manner as the Secretary shall prescribe) at the time of the establish- ment of the account as a Trump account. ‘‘(C) The written governing instrument creating the account meets the following requirements: ‘‘(i) No contribution will be accepted— ‘‘(I) before the date that is 12 months after the date of the enactment of this section, or ‘‘(II) in the case of a contribution made in any calendar year before the calendar year in which the account beneficiary attains age 18, if such contribution would result in aggregate con- tributions (other than exempt contributions) for such calendar year in excess of the contribution limit specified in subsection (c)(2)(A). ‘‘(ii) Except as provided in subsection (d), no dis- tribution will be allowed before the first day of the calendar year in which the account beneficiary attains age 18. ‘‘(iii) No part of the account funds will be invested in any asset other than an eligible investment during any period before the first day of the calendar year in which the account beneficiary attains age 18. ‘‘(2) ELIGIBLE INDIVIDUAL.—The term ‘eligible individual’ means any individual— ‘‘(A) who has not attained the age of 18 before the close of the calendar year in which the election under subparagraph (C) is made, ‘‘(B) for whom a social security number (within the meaning of section 24(h)(7)) has been issued before the date on which an election under subsection (C) is made, and ‘‘(C) for whom— ‘‘(i) an election is made under this subparagraph by the Secretary if the Secretary determines (based on information available to the Secretary from tax returns or otherwise) that such individual meets the requirements of subparagraphs (A) and (B) and no prior election has been made for such individual under clause (ii), or ‘‘(ii) an election is made under this subparagraph by a person other than the Secretary (at such time and in such manner as the Secretary may prescribe) for the establishment of a Trump account if no prior election has been made for such individual under clause (i). ‘‘(3) ELIGIBLE INVESTMENT.— ‘‘(A) IN GENERAL.—The term ‘eligible investment’ means any mutual fund or exchange traded fund which— ‘‘(i) tracks the returns of a qualified index, ‘‘(ii) does not use leverage,