Treasury says every child born between Jan. 1, 2025 and Dec. 31, 2028 is eligible for a $1,000 Treasury contribution invested in an index fund.
Families typically claim the seed contribution by checking a box on Form 4547; the statement says about 500,000 Americans have already elected to open accounts.
Additional funding channels include family/friend/employer donations, philanthropic contributions, and state government donations.
Starting July 4 (the administration’s stated launch date), family, friends, and employers can contribute up to $5,000 per Trump Account each year.
Michael and Susan Dell pledged $6.25 billion to fund Trump Accounts for 25 million children under age 10; Ray and Barbara Dalio pledged $75 million for more than 300,000 Connecticut children.
Accounts are described as tax-advantaged, locked until age 18, and may be used after 18 for retirement, home purchases, or education according to the statement.
The Treasury frames Trump Accounts as a nationwide effort to expand equity ownership and promote financial literacy among young Americans.
Follow Up Questions
Which Treasury office or external custodian will administer and hold individual Trump Accounts?Expand
Treasury (the Secretary or the Secretary’s delegate) will create the initial Trump Account and place it with one or more approved financial institutions that Treasury selects to serve as initial trustees; trustees must be banks or IRS‑approved nonbank IRA trustees. (In short: Treasury will organize the accounts but custody will be held by selected external financial institutions serving as trustees/custodians.)