Kansas State Treasurer: Born To Invest Page

Account Comparison: Trump, Quest529, and ABLE
Born to Invest Act

Early wealth-building is one of the most effective ways to bolster a child’s financial wellbeing and set them up for success. With a Quest529 Account, Trump (530A) Account and ABLE Account, parents and caregivers can help children enter adulthood with greater financial security and knowledge about saving and investing. The Born to Invest Act ensures Kansas families are delivered comparative educational materials regarding the various financial incentives and wealth building opportunities available to newborns. As Kansas families look to build enriching opportunities for children, this webpage is designed to help Kansans navigate and compare the benefits of government-facilitated savings accounts

Below you will find comparative information about Trump (530A) Accounts, Quest529 Education Savings Accounts and ABLE (529A) Accounts.

What type of account is it?

Who is eligible?

Trump Account

An authorized individual generally may establish an account for a child younger than 18 who has a valid Social Security number. Additional requirements apply to the $1,000 federal pilot contribution and the $250 Dell Foundation grant contribution.

Quest529 Education Savings Account

An account owner generally must be a U.S. citizen with a Social Security Number (SSN) or Taxpayer Identification Number (TIN). The account owner may designate a child or any individual with an SSN or TIN to be the beneficiary of funds saved in the 529 account.

Kansas ABLE Savings Account

An account owner must have a disability that began before age 46. The individual also must be eligible for SSI or SSDI because of the disability, meet the Social Security Act standard for blindness or have a similarly severe disability supported by a physician's written diagnosis.

Who owns and controls the funds?

Trump Account

The account is established for the exclusive benefit of the child. An authorized adult establishes the account, and a financial institution serves as trustee or custodian during the growth period. The beneficiary gains control when the growth period ends.

Quest529 Education Savings Account

The account owner controls the account, chooses investments, directs withdrawals and may change the beneficiary to another eligible family member. The beneficiary does not control the funds in a Quest529 account unless also named as account owner.

Kansas ABLE Savings Account

The person with the disability, called the designated beneficiary, owns the ABLE account. An authorized individual may open or manage the account on the beneficiary's behalf, but the funds within the Kansas ABLE account belong to the beneficiary.

When can funds be accessed?

How may the funds be used?

Trump Account

After the growth period, traditional IRA rules generally apply. Distributions before age 59½ may avoid an additional 10% “early withdrawal penalty” for certain purposes, including qualified higher education expenses, a first-home purchase within the lifetime limit of $10,000 and other statutory exceptions. Federal and Kansas income taxes may apply to a portion of Trump account withdrawals.

Quest529 Education Savings Account

Qualified uses include tuition, fees, books, supplies, certain room and board costs, computers, registered apprenticeships, recognized postsecondary credentials, certain K-12 expenses and limited student loan repayment. Subject to federal requirements, up to $35,000 in funds may be rolled into the beneficiary's Roth IRA after a statutory waiting period.

Kansas ABLE Savings Account

Qualified disability expenses may include education, housing, transportation, employment support, assistive technology, health and wellness, legal and financial services, personal support, oversight, funeral and burial costs and other basic expenses related to living with a disability.

What is the tax treatment?

Trump Account

Earnings grow tax-deferred. Individual contributions are not federally or state deductible. Certain employer contributions may be excluded from the employee's income. After the growth period, distributions generally follow traditional IRA tax rules.

Quest529 Education Savings Account

Earnings grow tax-deferred, and qualified withdrawals are free from federal and Kansas income tax. For each beneficiary, Kansas taxpayers may deduct contributions of up to $3,000 each year, or $6,000 for married couples filing jointly, subject to statutory limitations.

Kansas ABLE Savings Account

Earnings grow tax-deferred, and qualified withdrawals are tax-free. Kansas taxpayers may deduct contributions of up to $3,000 per beneficiary each year, or $6,000 for married couples filing jointly. The Kansas deduction limit is shared across 529 and ABLE contributions for the same beneficiary.

Are starter contributions or incentives available?

Trump Account

The federal government provides a one-time $1,000 pilot contribution for an eligible U.S. citizen born between Jan. 1, 2025, and Dec. 31, 2028, provided the child has a valid Social Security number. Visit TrumpAccounts.gov to begin the claim process. Children age 10 or younger born before 2025 who live in zip codes with median incomes below $150,000 are eligible for a $250 qualified general contribution into a Trump Account. Visit InvestAmerica.org/dell to check eligibility and begin the claim process.

Quest529 Education Savings Account

Kansas offers a $50 match incentive for Kansas residents who open a Quest529 account for a child under the age of two. The $50 matching funds can be claimed using the promotion code “Kansas50” while enrolling for an account at Quest529.com.

Kansas ABLE Savings Account

Eligible Kansas families who open a new Kansas ABLE account in 2026 and 2027 may qualify for a $100 ABLE empowerment grant after registering, attending a virtual 30-minute educational event and meeting the program requirements. Funding is limited and prioritized by registration date. Visit Treasurer.ks.gov/grant to learn more.

What is the annual contribution limit?

Trump Account

For 2026 and 2027, employer and individual contributions are limited to a combined $5,000 annually. The $1,000 federal pilot contribution, qualified general contributions and qualified rollovers do not count toward that limit. Employer contributions are subject to a separate $2,500 limit.

Quest529 Education Savings Account

There are no annual contribution limits, however contributions to a Quest529 plan are considered gifts by the Internal Revenue Service (IRS). Making a contribution that exceeds the annual gift tax exclusion – $19,000 for single filers, $38,000 for married couples filing jointly – may require tax reporting.

Kansas ABLE Savings Account

The standard annual contribution limit for 2026 is $20,000 from all sources. Subject to income and retirement-plan limitations, an employed beneficiary may be able to contribute up to an additional $15,650 annually into their ABLE account

What type of account is it?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

Who is eligible?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

Who owns and controls the funds?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

When can funds be accessed?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

How may the funds be used?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

What is the tax treatment?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

Are starter contributions or incentives available?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

What is the annual contribution limit?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

What investment choices are available?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

How can the account affect federal student aid?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account

Where do I go to open an account and start saving?

Trump Account

Quest529 Education Savings Account

Kansas ABLE Savings Account