More than six million Trump accounts for children are set to open for contributions next month, roughly a year after the program was first announced. The accounts, which function like a retirement savings vehicle, allow families to invest in a child's future for major expenses such as college, a first home, or starting a business.
Every U.S. child under 18 with a Social Security number qualifies for an account. Parents who missed the initial registration window during tax filing can still sign up, even after the July 4 launch date. The process involves completing Form 4547 on the official Trump account website, where parents must provide their own Social Security number and their child's information.
A key feature of the program is an optional $1,000 seed payment from the Treasury Department for children born between January 1, 2025, and December 31, 2028. Children under 10 who don't qualify for that payment may receive a one-time $250 contribution. Additional funds can come from family, friends, employers, philanthropic organizations, or state and local governments, subject to annual contribution limits.
The IRS defines the accounts' growth period as ending on December 31 of the year before the child turns 18. After that, the funds become available for qualified expenses.
The Treasury is warning parents to watch for scams. Official emails will come from [email protected], and the agency will not call or text. Account access is only through TrumpAccounts.gov or the mobile app.
The launch comes amid broader political tensions. The Trump administration has been pressing gas stations to lower prices even as oil costs fall, and infighting among House Republicans has stalled parts of the president's agenda. Meanwhile, the Supreme Court recently sidestepped a core question on Trump's China tariffs, leaving trade policy uncertain.
For parents considering the accounts, the Treasury emphasizes that support requests should be made through the official website or app, not by phone. The July 4 launch will mark the first opportunity for contributions, but registration remains open.
