President Donald Trump on Tuesday, December 2, unveiled a new IRS form that parents can use to sign their children up for “Trump Accounts,” the federal savings program created under the Working Families Tax Cuts Act. The accounts are tax-advantaged investment vehicles for children and will provide $1,000 in government seed money to every US citizen born between 2025 and 2028.
The program received a significant boost with a historic $6.25 billion charitable commitment from philanthropists Michael and Susan Dell, one of the largest private gifts ever directed toward American families.
The announcement was made at the White House on December 2, where President Trump joined lawmakers and the Dells to highlight how the program aims to give millions of children a stronger financial foundation.
Trump Accounts are tax-advantaged savings accounts available to every US citizen born between January 1, 2025, and December 31, 2028. Each account is intended as a long-term investment tool that grows with the child.
Key features include:
Trump Accounts are not open yet, but families will be able to access the new child savings program starting July 4, 2026. Here’s exactly how parents can claim the government’s $1,000 seed contribution and set up the account.
1. File IRS Form 4547 to open the Trump Account
As per CNBC who cited, Ben Henry-Moreland, a certified financial planner with advisor platform Kitces.com, Parents or legal guardians must submit Form 4547 to register their child for a Trump Account.
Once the form is filed, the government will automatically create and fund the account with the $1,000 contribution (if the child is eligible).
2. Who is eligible for Trump Accounts?
Your child must meet all of the following:
The government’s $1,000 is deposited into the child’s investment account, which will be held initially with the Treasury’s financial agent. Parents can then contribute up to $5,000 per year, beginning July 4, 2026, to grow the balance.
4. When can the child access the money?
No withdrawals are allowed until the child turns 18.
5. Can the money grow?
Yes. All contributions, including the $1,000, are invested in low-fee US stock market index funds, giving the account long-term growth potential.
The first 25 million American children age 10 and under living in ZIP codes with median incomes below $150,000 will receive an additional $250 in their Trump Accounts. The White House called it a "historic act of generosity" targeting low- and middle-income families.
The program received a significant boost with a historic $6.25 billion charitable commitment from philanthropists Michael and Susan Dell, one of the largest private gifts ever directed toward American families.
The announcement was made at the White House on December 2, where President Trump joined lawmakers and the Dells to highlight how the program aims to give millions of children a stronger financial foundation.
What are Trump Accounts?
Trump Accounts are tax-advantaged savings accounts available to every US citizen born between January 1, 2025, and December 31, 2028. Each account is intended as a long-term investment tool that grows with the child.
Key features include:
- Automatic $1,000 government seed contribution for each eligible newborn
- Families and approved contributors can add up to $5,000 annually
- Funds are invested in a broad stock-market index
- Accounts remain private property and under guardian control until age 18
- If fully funded and left untouched, account balances could grow to as much as $1.9 million by age 28, according to the White House
How to get the $1,000 Trump Account money for your child
Trump Accounts are not open yet, but families will be able to access the new child savings program starting July 4, 2026. Here’s exactly how parents can claim the government’s $1,000 seed contribution and set up the account.
1. File IRS Form 4547 to open the Trump Account
As per CNBC who cited, Ben Henry-Moreland, a certified financial planner with advisor platform Kitces.com, Parents or legal guardians must submit Form 4547 to register their child for a Trump Account.
Once the form is filed, the government will automatically create and fund the account with the $1,000 contribution (if the child is eligible).
2. Who is eligible for Trump Accounts?
Your child must meet all of the following:
- Be a US citizen
- Have a valid Social Security number
- Be born between Jan. 1, 2025, and Dec. 31, 2028
The government’s $1,000 is deposited into the child’s investment account, which will be held initially with the Treasury’s financial agent. Parents can then contribute up to $5,000 per year, beginning July 4, 2026, to grow the balance.
4. When can the child access the money?
No withdrawals are allowed until the child turns 18.
5. Can the money grow?
Yes. All contributions, including the $1,000, are invested in low-fee US stock market index funds, giving the account long-term growth potential.
Who gets the extra $250 in the Trump Account?
The first 25 million American children age 10 and under living in ZIP codes with median incomes below $150,000 will receive an additional $250 in their Trump Accounts. The White House called it a "historic act of generosity" targeting low- and middle-income families.
