Saver's Match Moves Forward: Treasury and IRS Announce Intent to Propose Regulations

Summary

On August 7, 2026, the U.S. Department of the Treasury and the Internal Revenue Service issued Notice 2026-48, announcing their intent to propose regulations on the federal Saver's Match program. The program is scheduled to begin in 2027 and is expected to benefit millions of low- and moderate-income taxpayers. The announcement is part of the Treasury and IRS implementation of Executive Order 14403, and it marks a key step in moving the program from statute toward actual operation. For taxpayers, the practical takeaway is that the detailed rules — who qualifies, how the match is calculated, and how it is claimed on a return — are still to come. The formal proposed regulations, once issued, will open a comment period, and the final rules will shape how the program works in practice.

Sources

• Internal Revenue Service — Treasury, IRS begin implementing Executive Order 14403 by announcing intent to issue proposed regulations on Saver's Match, which will benefit millions of low- and moderate-income taxpayers — https://www.irs.gov/newsroom/treasury-irs-begin-implementing-executive-order-14403-by-announcing-intent-to-issue-proposed-regulations-on-savers-match-which-will-benefit-millions-of-low-and-moderate-income-taxpayers

Our Take

The Saver's Match program is relevant well beyond U.S. borders. Canadians who hold U.S. retirement accounts, such as IRAs or 401(k)s, and Canadians working in the United States who participate in employer-sponsored retirement plans may be affected by the matching rules. Because today's announcement only signals an intent to propose regulations, the precise eligibility criteria, match rate, and claiming mechanics are not yet confirmed, and taxpayers should not make filing decisions based on assumptions. We recommend monitoring the forthcoming draft rules closely and consulting a CPA familiar with both the U.S. and Canadian systems to make sure retirement contributions and any related credits are reported correctly in each country — the treatment of U.S. retirement savings can differ materially on the Canadian side of the border.

Disclaimer: This article is general information only and does not constitute tax advice; it should not substitute professional tax counsel. Please consult a licensed CPA for advice specific to your situation.