; (ii) any contributions made by any person after the date the individual attains age 18 will be taken into account as provided in section 529(f)(3)(F) of the Internal Revenue Code of 1986, and (iii) the individual (or, as provided, the individual's parent or guardian) may elect to have the account balance rolled over or distributed as provided, and at the time specified, in subsection (c). (4) Annual deposit (A) In general (i) Annual amount Within a reasonable amount of time (not to exceed 60 days) after the filing of the return of tax for each taxable year by a taxpayer claiming an eligible individual as a dependent, the Secretary of the Treasury shall deposit $500 into the 401Kids Savings Account established for such individual under the Federal 401Kids Account Program or a 401Kids Account Program established and maintained by a State. (ii) Additional amount for earned income credit eligible families If a credit is allowable under section 32 of the Internal Revenue Code of 1986 to the parent or guardian or an eligible individual for a taxable year, clause (i) shall be applied by substituting $750 for $500 . (B) Phaseout In the case of a taxpayer to whom subparagraph (A)(ii) does not apply, the $500 amount under subparagraph (A)(i) shall be reduced (but not below zero) by $10 for each $1,000 (or fraction thereof) by which the taxpayer's modified adjusted gross income for the taxable year exceeds $75,000 ($150,000 in the case of a joint return). (C) Married couples must file joint return If the taxpayer is married at the close of the taxable year, subparagraph (A) shall apply only if the taxpayer and the taxpayer's spouse file a joint return for the taxable year. (D) Deposit on behalf of children in foster care At an appropriate time each year as determined by the Secretary of the Treasury in coordination with the Administration for Children and Families, such Secretary shall deposit $750 into the 401Kids Savings Account established under the Federal 401Kids Account Program or a 401Kids Account Program