Trump Accounts to Launch for U.S. Children, Offering Up to $1,000 in Government Seed Funding

The U.S. government is launching a new long-term investment savings program for children called “Trump Accounts,” with deposits officially beginning on July 4. Parents who have not yet enrolled their children will still be able to apply after the program’s launch.

According to the U.S. Department of the Treasury, the account-opening process has already begun for more than 6 million children. The initiative is designed to help families build long-term financial savings through investment-based accounts.

The Trump Account will operate similarly to an individual retirement investment account, allowing funds to grow through investments until the child turns 18. Once eligible, the money can be used for approved purposes such as higher education, purchasing a home, starting a business, or other uses permitted by law.

Children who are U.S. citizens or otherwise eligible residents, are under the age of 18, and possess a valid Social Security number can qualify for the program.

Many parents previously applied by submitting Form 4547 with their tax returns. However, families who did not apply during tax filing—or whose children were born after the filing deadline—can still enroll online by completing the same form, even after July 4.

Applicants must provide Social Security numbers and other required personal information for both the parent and child. During the application process, eligible families can choose whether to accept the federal government’s one-time $1,000 seed contribution.

The government-funded $1,000 contribution is available only for eligible children born between January 1, 2025, and December 31, 2028. In addition, some children under the age of 10 who do not qualify for the federal grant may receive a one-time $250 contribution through a charitable initiative supported by technology entrepreneur Michael Dell and Susan Dell.

Beyond parents, contributions to the accounts may also be made by family members, friends, employers, charitable organizations, and state or local governments, subject to program rules. Most personal contributions are currently capped at $5,000 per year.

The Internal Revenue Service (IRS) said investment growth will continue until December 31 of the year before the child turns 18, after which funds may be withdrawn in accordance with legal requirements.

Ahead of the launch, the Treasury Department warned families to be alert for scams. Officials said legitimate program emails will only come from no-reply@TrumpAccounts.Treasury.gov, and the government will never request personal information through phone calls or text messages. Families are advised to use only the official TrumpAccounts.gov website or the government’s official mobile application for registration and account management.