The Trump administration has launched “Trump Accounts,” tax-deferred investment savings accounts for U.S. children under 18, established under the Working Families Tax Cuts Act. The program includes a $250 gift for the first 25 million qualifying children provided by Michael and Susan Dell, and a one-time $1,000 Treasury Department deposit for children born between January 1, 2025, and December 31, 2028, who possess a valid Social Security number.
How do Trump Accounts work?
Trump Accounts function as tax-deferred investment vehicles. According to the White House, families can contribute up to $5,000 annually to these accounts. Once a child reaches adulthood, the account transitions to function like a traditional Individual Retirement Account (IRA).
Treasury Secretary Scott Bessent stated on X that the dedicated Trump Accounts app includes a “full suite” of capabilities, allowing parents to fund accounts and access financial education modules.
How can parents register for the program?
To enroll a child, parents must first sign in to or create an account through the Internal Revenue Service (IRS). Registration requires the submission of Form 4547 to elect the child for the program. This form is available through three channels:
- The Trump Accounts mobile application.
- The official IRS website.
- During the annual tax filing process.
Who is funding the accounts?
Billionaire CEO Michael Dell and his wife, Susan Dell, are gifting $250 to the first 25 million qualifying children who sign up. Dell described the move in an X post as a way to make every child a “shareholder in the greatest prosperity-creating engine the world has ever known — American capitalism.”
Beyond the Dell family, more than a dozen companies and philanthropists have pledged support. Participating entities include BlackRock, Chipotle, MasterCard, Block, Robinhood, and Chime.
Trump announced via Truth Social that the Department of Treasury will now accept philanthropic contributions of “readily tradable Publicly Traded Stock” to further fund the accounts. Trump stated this allows businesses and job creators to invest directly in the future of American children to build a “Generation of Savers, Investors, and Owners.”
What are the eligibility requirements?
The accounts are available to all U.S. children under the age of 18. However, the specific $1,000 one-time deposit from the U.S. Treasury Department is restricted to children born within a specific window: January 1, 2025, through December 31, 2028. To receive this deposit, the child must have a valid Social Security number.
Comparison of Funding Sources
| Funding Source | Amount | Eligibility/Limit |
|---|---|---|
| Michael & Susan Dell | $250 | First 25 million qualifying children |
| U.S. Treasury Department | $1,000 | Born Jan 1, 2025 – Dec 31, 2028 (with SSN) |
| Family Contributions | Up to $5,000/year | Children under 18 |
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