Trump Launches 'Trump Accounts' With $1,000 Seed for Newborns
Treasury will deposit $1,000 into accounts for babies born Jan. 1, 2025–Dec. 31, 2028, Treasury officials said.
Overview
President Donald Trump unveiled the "Trump Accounts" initiative at a Jan. 28, 2026 White House summit and Treasury Secretary Scott Bessent said the Treasury will deposit $1,000 into accounts for U.S. babies born Jan. 1, 2025, through Dec. 31, 2028.
The program matters as a federal effort to build long-term savings for children and was inserted into last years tax bill known as the "Money Accounts for Growth and Advancement Act," according to Treasury materials.
Major donors and corporate participants pledged support, with Michael and Susan Dell pledging $6.25 billion to provide $250 deposits in qualifying ZIP codes and companies including Uber, Intel, Nvidia and Comcast committing contributions, the White House said.
Analysts estimate the initiative will cost about $15 billion through 2034 and Treasury officials said roughly 25 million children are eligible while Bessent said about 600,000 families have already signed up and he predicts 25 million participants.
Treasury said parents can enroll eligible children using newly created IRS Form 4547 when filing taxes and that accounts will begin accepting contributions in early July 2026, while the Trump Accounts website lists a July 5, 2026 launch, reflecting conflicting dates.
Analysis
Center-leaning sources largely remain neutral: they lay out factual mechanics (eligibility, $1,000 seed, contribution limits), report proponents’ enthusiasm and corporate pledges, and include skeptics’ critiques about distributional effects and costs (EPI, Cato, Tax Foundation). Reporting balances praise and criticism and frames choices as attributed source content rather than editorial opinion.
Sources (11)
FAQ
U.S. citizen children born between January 1, 2025, and December 31, 2028, with a valid Social Security number.
Parents can enroll eligible children using IRS Form 4547 when filing taxes; accounts begin accepting contributions in early July 2026.
Up to $5,000 per year total from individuals and employers (pre-tax); must be invested in low-cost U.S. equity index funds with fees no more than 0.10%.
Generally, no withdrawals until the child turns 18; disbursements are taxable as income.
Yes, children under 18 with a Social Security number can have accounts opened, but they won't receive the $1,000 seed if born before 2025.
History
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