Congress·In Committee·H.R. 10039

SMART Savings Act of 2026

Retirement Savings: Simplifying IRA Rules

Aug 3·View on Congress.gov·Read full text

Part of: SMART Savings Act of 2026

Next up: A house committee

The House Committee on Ways and Means is reviewing this bill. It has not moved since August 3, 2026. Most bills like this do not receive a committee vote and often stall at this stage.

Companion bill: Retirement Accounts: New Rules for IRA Benefits →

Legislative Progress

House

Senate

President

Law

Unlikely to pass

This bill was introduced late in the session by a single representative and has not yet gained broad bipartisan support or committee momentum.

How we got here

This bill’s path across every version that has carried it.

Companion
Identical companion bill S. 5204 (119th) was introduced in the other chamber.
S. 5204 (119th) →

Key Points

This bill changes how the government regulates individual retirement accounts, commonly known as IRAs. It aims to make the rules simpler for people who manage their own retirement savings by removing certain technical restrictions.
The plan allows banks and financial companies to offer special perks to customers based on how much money they have in their IRAs. These perks could include lower fees or free services that were previously restricted by strict tax laws.
While it removes some old restrictions, the bill keeps rules that stop people from using their retirement money for personal gain. This ensures that the money stays focused on long term savings rather than immediate personal use.
If passed, these changes would apply to any transactions made after the bill becomes law. It is designed to help regular savers get more value out of their accounts without accidentally breaking complicated tax rules.

Impact Analysis

Govbase has not yet run an impact analysis on this legislation.

Milestones

2 milestones2 actions

Aug 3, 2026House

Referred to the House Committee on Ways and Means.

Aug 3, 2026

Introduced in House

The bill was officially filed and given a number. It now enters the legislative queue.

No votes or news coverage recorded for this bill yet.

Source Information

Document Type

Congressional Bill

Official Title

SMART Savings Act of 2026

Bill NumberHR 10039

Congress119th Congress

ChamberHouse of Representatives

Latest ActionReferred to the House Committee on Ways and Means.

Data Sources

Congress.gov

Official legislative information

Read Full Bill Text

Sponsor

Analysis generated by AI. Always verify with official sources.