Summary
The IRS reported that over 4 million children have enrolled in Trump Accounts, with more than 1 million eligible for a $1,000 government contribution. The Trump Accounts are new savings accounts for minors that are part of a federal program aimed at helping build long-term wealth for children born between 2025 and 2028.
Key Facts
- Trump Accounts are a type of savings account for children under 18.
- Over 4 million children are enrolled in these accounts.
- More than 1 million accounts have opted for the $1,000 federal contribution.
- The accounts were established under a law called the One, Big, Beautiful Bill, enacted in 2025.
- The $1,000 contribution is available to children born between 2025 and 2028 who are U.S. citizens.
- Contributions to the account can come from individuals, employers, and select organizations, but are capped at $5,000 annually.
- Investment options for funds in the accounts are limited to certain types of low-cost investment funds.
- Withdrawals from the accounts are generally not allowed until the account holder turns 18.
