IRS Signals New Rules for Saver's Match: A Federal Match on Retirement Savings Beginning in 2027

Summary

On Aug. 7, 2026, the U.S. Treasury Department and the IRS issued Notice 2026-48 (IR-2026-89), announcing their intent to propose regulations for the federal Saver's Match program, which begins in 2027. Enacted under the SECURE 2.0 Act, Saver's Match replaces the Saver's Credit for retirement savings contributions. Eligible taxpayers will receive a match of up to 50 per cent on the first $2,000 of qualified contributions to an employer-sponsored retirement plan or IRA — a maximum of $1,000 per year — paid starting in 2028, based on contributions made for the 2027 tax year.

The notice also begins implementation of Executive Order 14403, issued April 30, which directs the launch of TrumpIRA.gov on Jan. 1, 2027, to help workers without access to an employer-sponsored plan find low-cost, diversified, index-based retirement savings vehicles. Treasury and the IRS anticipate the site will list financial institutions that offer IRAs and accept Saver's Match contributions. Public comments on the anticipated Saver's Match rules are due by Oct. 5, 2026.

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

For cross-border filers — Canadians who are U.S. citizens or residents with U.S. retirement accounts, and cross-border workers with modest incomes — Saver's Match is worth watching. Unlike the old credit, the match would be a direct federal contribution into an eligible taxpayer's retirement account. But nothing is final yet: the notice describes anticipated rules and requests public comments, and questions about which contributions, account types and income levels qualify will only be settled by the proposed and final regulations.

In the meantime, cross-border taxpayers can prepare by tracking the Oct. 5, 2026, comment deadline and subsequent regulatory developments, keeping records of qualified retirement contributions made in the 2027 tax year, and watching for the federal match to arrive in 2028. Because U.S. retirement accounts also raise Canadian reporting and treaty questions, and because eligibility will depend on individual circumstances, anyone potentially affected should consult a CPA familiar with cross-border U.S.-Canada tax issues.

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.