Proposed regulations (REG-101355-26) that the IRS estimates would affect millions of children, families, and employers clarify that the $2,500 annual limit on tax-free employer contributions to Trump accounts applies per employee — not per child or employer. Under the proposed regulations, an employee with multiple children who have Trump accounts could divide employer contributions among those accounts, but the employee’s aggregate exclusion could not exceed the annual limit of $2,500. The proposed regulations adopt common-law definitions of employee and employer, meaning self-employed individuals could maintain Trump account contribution programs for their employees but could not participate in the programs themselves.