The Trump administration will launch the Trump Accounts program on July 4, tying the 250th anniversary of the Declaration of Independence to an effort promoting long-term financial security for American children. Deposits into the accounts are set to begin that day, when the Treasury Department is also expected to provide the government-funded initial contribution.
Trump Accounts, officially designated as 530A accounts, represent a new investment vehicle for minors created through recent legislation. The program permits stock market investments on behalf of a child, with funds locked until age 18 and available only for approved uses such as higher education, starting a business or a home down payment. Families may register via trumpaccounts.gov.
After an account is opened by a parent or guardian, the Treasury will deposit $1,000 for qualifying newborns. Private banks and brokerages will manage the accounts, restricting investments to low-cost US equity index funds with annual fees capped at 0.10 percent.
Parents may contribute up to $2,500 yearly from pre-tax income. Employers, relatives, friends, local governments and charities may add further amounts, though total annual deposits are limited to $5,000 excluding government and nonprofit contributions.
The $1,000 government payment applies solely to children born during the current administration, specifically between January 1, 2025 and December 31, 2028, who are US citizens holding valid Social Security numbers. Older children may open accounts but will not receive the bonus. Any parent may establish an account regardless of immigration status.
Funds are meant for long-term growth and generally cannot be withdrawn before age 18 except in limited cases, with applicable taxes due on distributions.
Parents and guardians can open accounts by filing IRS Form 4547 with their tax return or registering online at TrumpAccounts.gov. After setup, families should download the Trump Accounts mobile app to activate the account and track activity.
The Treasury Department states that all official communications will come from no-reply@trumpaccounts.treasury.gov. Calls or texts about the program should be disregarded as likely scams.
