Trump Accounts went live on July 4, 2026, delivering $1,000 federal deposits to 1.4 million eligible children as part of a new long-term wealth-building program. The accounts, established for U.S. citizen children born between January 1, 2025 and December 31, 2028, represent a major expansion of government-backed savings vehicles aimed at giving the next generation a financial head start.
Over 6 million Trump Accounts have been opened to date, according to officials, though only those 1.4 million children meet the criteria for the initial $1,000 government contribution. To qualify for the seed deposit, a child must be born within the eligible window, hold U.S. citizenship, and have a valid Social Security number. Parents, guardians, and other authorized individuals can open accounts by submitting IRS Form 4547 or through the official Trump Accounts app.
Trump Accounts function as tax-advantaged investment accounts where deposits must be invested in stock mutual funds or exchange-traded funds tracking the S&P 500 or another American stock index. The White House Council of Economic Advisers projects that a child born in 2026 receiving the $1,000 initial deposit could see the account grow to $303,800 by age 18 if parents contribute the maximum allowed amount of $5,000 annually—adjusted for inflation after 2027. Even with no additional contributions beyond the government seed, the projection shows the account would reach approximately $5,800 by age 18, based on historical average stock market returns.
Parents can contribute up to $5,000 per year to their child’s Trump Account, with employers permitted to add up to $2,500 annually, which doesn’t count toward employees’ taxable income. These contribution limits increase with inflation over time. The accounts are locked until the child reaches age 18; withdrawals before that trigger a 10% penalty plus taxes. Once a child turns 18, the Trump Account is treated as a traditional IRA and follows standard IRA withdrawal rules.
The program expands access to investment accounts beyond traditional college-savings vehicles like 529 plans. Unlike 529 plans, which offer tax-free withdrawals for qualified education expenses, Trump Accounts are designed as broader long-term investment vehicles. When funds are withdrawn from a Trump Account, investment earnings are taxed as ordinary income, making them less efficient than 529 plans for education-specific savings but more flexible for general wealth accumulation.
Children born before January 1, 2025 who are under age 18 can also open Trump Accounts with all features intact, but they don’t qualify for the $1,000 government deposit. The program is a pilot running through 2028, with the government committing the full $1,000 contribution for each eligible newborn during that window.
Sources
- Social Security Administration — confirmed Trump Accounts deposits began July 4, 2026
- CNN — reported 1.4 million eligible children receiving $1,000 deposits and 6+ million total accounts opened
- Politico — confirmed 6 million accounts requested with 1.4 million eligible for seed contribution
- The Hill — reported accounts going live and 1.4 million eligible children receiving deposits
- IRS — confirmed eligibility criteria and that contributions can begin July 4, 2026
- Chase Bank — confirmed eligibility window (Jan 1, 2025 – Dec 31, 2028) and $1,000 deposit details
- White House Council of Economic Advisers — provided growth projections ($303,800 by age 18 with maximum contributions, $5,800 with no contributions)
- iShares — confirmed Trump Accounts are tax-advantaged investment accounts for long-term wealth building
- TurboTax — confirmed contributions are not tax-deductible but grow tax-deferred
- Center for Retirement Research — confirmed 529 plans offer better education-specific advantages
