Proposed Saver’s Match Rules Released by Treasury, IRS

The Department of the Treasury and the IRS are moving ahead with implementation of the federal Saver’s Match, outlining anticipated rules for a program that will replace the Saver’s Credit, a federal tax credit. The Saver’s Match will be a direct government matching contribution to eligible taxpayers’ individual retirement account or retirement plan.

In Notice 2026-48, released Friday, Treasury and the IRS announced they intend to propose regulations governing the Saver’s Match and are seeking public comments as they finalize how the program will operate. The benefit applies to qualified retirement savings contributions made in taxable years beginning after December 31, 2026.

Under the program, low- and moderate-income taxpayers can receive a match equal to as much as 50% of the first $2,000 they contribute to qualifying employer-sponsored retirement plans or IRAs, producing a maximum federal contribution of $1,000 annually. Payments to eligible taxpayers are expected to begin in 2028, based on contributions made for the 2027 tax year.

Unlike the Saver’s Credit, generally a nonrefundable tax credit limited by a taxpayer’s income tax liability, the Saver’s Match will generally be deposited directly into an eligible retirement account—even if the taxpayer has no income tax liability. The Saver’s Credit will continue to apply to qualifying contributions to ABLE [Achieving a Better Life Experience] accounts.

Research in 2024 by the Collaborative for Equitable Retirement Savings found that for Saver’s Match-eligible workers, the increase in a participant’s retirement account balance at retirement at age 65 could be as much as 21.4% to 33.7%, depending on filing status and eligibility, as well as behavioral assumptions. The collaborative is a research partnership of Morningstar, DCIIA and the Aspen Institute Financial Security Program.

Eligibility and the size of the federal match will depend in part on modified adjusted gross income. For 2027, taxpayers will no longer qualify once their MAGI reaches $35,500 for single and married-filing-separately filers, $53,250 for heads of household, or $71,000 for married couples filing jointly and surviving spouses. Those limits would be adjusted for inflation after 2027.

The notice also provides new details about how taxpayers are expected to claim the benefit. Eligible individuals would file a tax return and use a new form, Form 8880-A, providing information including filing status, income, qualifying contributions and certain retirement-account distributions.

The initiative is also tied to President Donald Trump’s April executive order establishing TrumpIRA.gov. Treasury plans to launch the website for that program on January 1, 2027, offering information about low-cost IRAs, particularly for workers without access to employer-sponsored retirement plans. Treasury and the IRS anticipate the site will list financial institutions that offer IRAs, accept Saver’s Match contributions and meet government criteria.

The government is still working through some of the program’s mechanics, including processes for directing Saver’s Match payments to traditional and Roth IRAs. Notice 2026-48 requests public input on those implementation questions and other aspects of the program, with comments due October 5, 2026.

The Saver’s Match itself was established by Congress as part of the SECURE 2.0 Act of 2022 and intended to take effect in 2027. The government website, however, will establish a platform for obtaining the match; will limit the annual fees institutions can charge on IRAs; will require no minimum balances; and will allow for philanthropic matching contributions to accounts registered there.