A Trump Account is a tax-favored savings account for children under the age of 18. It works similarly to a retirement account but has special rules during what’s called the “growth period,” which lasts until the child reaches adulthood. During this time, contributions grow tax-deferred, and withdrawals are generally not permitted.
Contributions to Trump Accounts officially began on July 4, 2026, giving families a new way to save for their children’s futures. These accounts, created under the One Big Beautiful Bill Act, are designed to provide tax advantages while helping parents, guardians and others build long-term savings for kids under 18. If you’re looking for a way to set aside money for your child’s future, whether for education, a first home or other important milestones, Trump Accounts may be worth considering.
This article provides an overview of Trump Accounts, including eligibility, contributions and steps to open an account.
Who Is Eligible?
All children under 18 in the United States with a valid Social Security number (SSN) are eligible to establish a Trump Account. Parents or legal guardians can open and manage accounts on behalf of their children. There is no cost to open an account, and you can do so at any time before the child turns 18.
When Can Funds Be Used?
Funds in the account must be invested in low-cost index funds approved by the IRS. These investments must not use leverage and have very low fees. Funds can be accessed without penalty when the child turns 18 for qualified expenses (e.g., education or a first home purchase).
Withdrawals may be subject to restrictions and would be taxed at ordinary income rates.
After the growth period ends, the account follows the same rules as a traditional individual retirement account, or IRA, including penalties for early withdrawals unless certain exceptions apply.
How Much Can I Contribute?
Anyone can contribute: parents, grandparents, employers and even the child themselves. The annual contribution limit is $5,000 per year, and this amount may increase after 2027 to account for inflation.
Children born between 2025 and 2028 with American citizenship and a valid SSN may also qualify for a $1,000 federal contribution through a pilot program, which is a great way to jump-start savings.
Nonprofits, philanthropists and state governments can also make contributions, which do not count against the annual limit. For example, the Dells (Michael and Susan Dell) and the Dalios (Ray and Barbara Dalio) have both pledged through their foundations to make one-time $250 seed contributions to the accounts of children from middle- to lower-income households. The list of companies and philanthropists pledging to match donations continues to grow. Eligibility and each matching contribution may vary.
How Much Can an Employer Contribute?
Employers can choose to contribute up to $2,500 per year to an employee’s child’s Trump Account, which counts toward the annual limit. These contributions are tax-free for employees, making them a valuable potential benefit.
Although Trump Accounts allow for employer contributions, whether your employer chooses to contribute will vary. Some employers may offer contributions as part of their benefits program, while others may not. Be sure to check with your employer or watch for updates from them to see if they plan to contribute to your Trump Account.
How Do I Open an Account?
Opening a Trump Account takes just a few steps:
- File IRS Form 4547 on behalf of the child, either with your 2025 federal tax return or electronically through your IRS account. Trusted links and the latest instructions are available at gov.
- Let the U.S. Department of the Treasury (Treasury) set up the account. Once your election is on file, the Treasury creates the account and sends next steps.
- Activate and manage the account through the official Trump Accounts app, available on the Apple App Store and Google Play, or through the web portal.
The app and web portal provide a streamlined way to manage accounts for multiple children, where parents or guardians can also track and manage account activity, such as checking the balance, adding funds and viewing savings projections.
Will the Treasury Contact Me?
The Treasury and its authorized financial service providers may contact individuals by email, text message or automated phone call regarding Trump Account activation and administration. Initial activation emails will only come from [email protected] and will include next steps. As noted in the initial activation email, future communications will be available in the official Trump Accounts app or from email addresses ending with @trumpaccount.com.
The Treasury and its authorized service providers will never ask you to disclose passwords, one-time verification codes or other sensitive account credentials by email, text message or phone call. If you receive such a communication, consider it a scam and do not provide any personal information.
What If I Have Questions?
If you have questions about Trump Accounts, call the Trump Account call center at 866-USA-4547 or visit TrumpAccounts.gov.
© 2026 Zywave, Inc.
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