Trump Accounts Program Enrolls 1.5 Million Children Since July Launch
More than 1.5 million children have been enrolled in Trump Accounts since the federal investment program debuted in July, according to a summer report from the U.S. Treasury. The initiative allows parents and legal guardians to open government-supported investment accounts designed to help American children build long-term wealth.
How Trump Accounts Work
Trump Accounts are investment vehicles where funds grow under regulatory guidelines during a growth period that lasts until December 31 of the year the child turns 17. Beneficiaries generally cannot withdraw money before age 18. For children born in 2025, withdrawals would begin around 2043. If funds remain unwithdrawn, the account transitions to function similarly to a traditional Individual Retirement Account (IRA).
Federal Seed Money and Eligibility
Under current guidelines, U.S. citizens born between January 1, 2025, and December 31, 2028 qualify for a $1,000 federal seed deposit. This government contribution does not count toward annual contribution limits.
For children born before January 1, 2025, the Michael and Susan Dell Foundation has committed $6.25 billion to deposit a $250 charitable gift into accounts of up to 25 million children aged 10 or younger living in qualifying ZIP codes.
Additionally, more than 50 companies have pledged to offer Trump Account contributions for the children of their employees.
Who Can Open an Account
Any child under 18 with a valid Social Security number may be eligible. Children whose immigration status changes can apply once they receive a new Social Security card reflecting that change.
According to the IRS, accounts can be opened by authorized individuals including:
- Legal guardians
- Parents
- Adult siblings
- Grandparents
Authorized account founders do not need to be U.S. citizens or hold a Social Security number. They may use an IRS Individual Taxpayer Identification Number (ITIN) during the application process.
Contribution Limits and Rules
| Contributor Type | Annual Limit | Details |
|---|---|---|
| Family and Friends | Up to $5,000 combined | Limit indexed to inflation after 2027 |
| Employers | Up to $2,500 | Subject to restrictions; dozens of employers committed |
| Government Seed Money | $1,000 (eligible births 2025–2028) | Does not count toward $5,000 annual limit |
| Nonprofits & Government Entities | No caps | Must distribute equal amounts to all accounts in a geographic location or birth year to prevent targeted demographic structuring (per Bipartisan Policy Center analysis) |
Major Philanthropic Pledges
- Michael & Susan Dell Foundation: $250 deposits for children 10 and under in qualifying ZIP codes
- Micron: $250 million investment providing $250 deposits to children under 18 in states where the semiconductor manufacturer operates: California, Colorado, Idaho, Minnesota, New York, Texas, and Virginia
Registration Process and Deadlines
There is no deadline to enroll an eligible child before they turn 18. Parents and guardians can register children through two channels:
- Online via the IRS website at irs.gov/trumpaccounts
- By filing Form 4547 with their taxes
Once registered, accounts can be managed at trumpaccounts.gov or through the official Trump Accounts mobile application.
Comparison: Pennsylvania’s Existing Programs
The PA 529 College and Career Savings Program offers a similar structure but with key differences. Like Trump Accounts, family members contribute post-tax dollars. However, 529 plans allow for tax-free withdrawals and stipulate funds must be used exclusively for educational purposes.
The Keystone Scholars Program automatically provides a $100 scholarship to all children born to Pennsylvania residents in 2019 or later, designated specifically for post-high school training and educational expenses.
More information on state-level programs is available at pa529.com.
