119 S4292 IS: Improving Retirement Security for Family Caregivers Act of 2026 U.S. Senate 2026-04-14 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

II119th CONGRESS2d SessionS. 4292IN THE SENATE OF THE UNITED STATESApril 14, 2026Ms. Collins (for herself and Mr. Warner) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to allow certain family caregivers to contribute to a Roth IRA.

1.

Short title

This Act may be cited as the Improving Retirement Security for Family Caregivers Act of 2026.

2.

Roth IRA contributions for certain family caregivers

(a)

In general

Subsection (c) of section 408A of the Internal Revenue Code of 1986 is amended by adding at the end the following new paragraph:(7)

Special rule for Roth IRA contributions of qualified family caregivers

(A)

In general

In the case of an individual who is a qualified family caregiver as of the close of the taxable year, in applying section 219 for purposes of paragraph (2), the limitation of paragraph (1) of section 219(b) shall be equal to the dollar amount in effect under section 219(b)(1)(A) for the taxable year.(B)

Qualified family caregiver

For purposes of this paragraph—(i)

In general

The term qualified family caregiver means an individual who, during the taxable year—(I)has completed 500 or more hours as a family caregiver, and(II)has completed fewer than 500 hours of paid employment (including self-employment).(ii)

Family caregiver

The term family caregiver means an unpaid family member, a foster parent, or another unpaid adult, who is unemployed or severely underemployed (as determined by the Secretary) and who provides in-home care, monitoring, management, supervision, or treatment of—(I)a child, or (II)an adult with a special need (as defined in section 2901 of the Public Health Service Act), including an elderly adult who requires care or supervision due to an age-related condition.(iii)

Hours

An individual shall be treated as serving as a family caregiver during the hours in which the individual is engaged in caregiving tasks including assistance with bathing or grooming, dressing, laundry, food shopping or preparation, housekeeping, managing medications, transportation, and mobility assistance.(C)

Coordination with spousal IRA

In the case of an individual to whom section 219(c)(1) applies for the taxable year, subparagraph (A) shall be applied notwithstanding such section..(b)

Effective date

The amendment made by this section shall apply to taxable years beginning after December 31, 2025.