26 U.S.C. § 6659 — Improper claim for Trump account contribution pilot program credit

(a) In general If any individual who makes an election under section 6434 for an individual who is not an eligible child of the taxpayer^*— (1) if that election was made due to negligence or disregard of the rules or regulations, the law imposes a penalty of $500, or (2) if that election was made due to fraud, the law imposes a penalty of $1,000. (b) Definitions (1) Eligible child The term “eligible child” has the meaning given that term under section 6434. (2) Negligence; disregard The terms “negligence” and “disregard” have the same meaning as when that terms are used in section 6662.