How the Program Works
The Trump Accounts app launches today, allowing parents to open tax-preferred investment accounts for their children through a simple download from the Apple App Store, Google Play, or TrumpAccounts.gov. Treasury Secretary Scott Bessent said in a statement on Thursday, "The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from day one."
Beginning July 4, the federal government will contribute $1,000 to each eligible child's account, with those funds invested in the stock market. Parents can also make personal contributions to the accounts, capped at $5,000 annually per child, with certain exceptions. Parents, employers, charitable organizations and other parties can all contribute money to the accounts.
Who Qualifies and How to Access Funds
Children who are U.S. citizens and born between January 1, 2025, and December 31, 2028, are eligible for a Trump Account. Parents or guardians must set up and manage the accounts until the child turns 18, at which point the account holder gains control.
Once children reach 18, they can access the money to pay for qualified expenses including education, buying a home, or starting a business. Standard individual retirement account withdrawal rules apply after that age.
Enrollment Process and Security
Millions of Americans have already signed up for Trump Accounts, according to the Treasury Department. The enrollment process requires logging into an individual's IRS account and completing Form 4547, the specific tax form to open a Trump Account. The accounts are free to set up.
Parents who previously signed up for accounts will receive emails with activation instructions at [email protected]. The Treasury Department warned that it will not contact people by text message or phone call about Trump Account activation. "If you receive a call or text about a Trump Account, do not respond, it is likely a scam," the agency stated.
The Treasury will activate accounts in phases between now and July 4, when the government contributions and personal contributions can begin.
