What are Trump accounts?
Trump Accounts are long-term, tax-deferred investment accounts for eligible children. They work a bit like a traditional individual retirement account (IRA), but for kids.
Who is eligible for a Trump account?
Most children under age 18 can have an account. To qualify, your child must:
Be a U.S. citizen or permanent resident
Have a valid Social Security number
Who is eligible for the $1,000 deposit?
Children born from 2025–2028 who are U.S. citizens can receive a one-time $1,000 deposit from the U.S Treasury once their Trump account is created. This doesn’t count toward annual contribution limits.
Some children, even those born outside 2025–2028, may qualify for other automatic contributions through private donations.
How do I sign my child up for a Trump account?
You can elect to set up a Trump Account for your eligible child while you file your taxes in TurboTax. Only certain relatives, like parents, or guardians can set up the account. We'll ask you questions about you and your children to see if they qualify and help you file Form 4547 to request the account.
You’ll also be able to open an account at trumpaccounts.gov starting in summer 2026.
What happens after I request the account?
After you request the account, you’ll get information about activating the account in May 2026. Accounts are expected to become active starting in July 2026.
Contributing to the account
Once the account is active, family, friends, and employers can add to it.
You, your child and others can contribute up to $5,000 total each year.
Employers can contribute $2,500 per employee, which counts towards the $5,000 limitation
The government and qualified not-for-profit organizations can also make contributions, not counted for the $5,000 limitation.
You use after-tax money to contribute. This means you don't get a tax break today, but the money grows tax-deferred.
Managing and using the money
As the parent or guardian, you manage the account until your child turns 18.
The funds are automatically invested in eligible investments (low-fee Dow Jones index funds).
The funds are meant for long-term savings. Generally, the money stays in the account until the child is 18. After that, it functions like a traditional IRA.
Your child may be able to take money out after age 18 for higher education costs and buying a first home, without penalty.
