07/13/2026
Posting again for those who may have missed this important information. There is A LOT of misinformation out there about these accounts. PLEASE do your own homework. If you have any concerns check with someone whose opinion you value and trust (accountant, attorney, financial advisor, etc.). THIS IS A NO BRAINER.
Who is eligible, how $1,000 deposits work and how to open one?
Trump Accounts officially launched on July 4, introducing a new tax-deferred investing option for children. Unlike 529 college savings plans and other accounts designed for education or shorter-term expenses, these accounts are geared towards retirement and intended to help build long-term wealth.
WHAT ARE THEY?
Trump Accounts, also known as 530A accounts, are a type of individual retirement account for children established under President Donald Trump’s big beautiful bill.
The accounts function like an IRA, with some exceptions. Trump Accounts can receive contributions from multiple sources, such as family or employers, and the funds grow tax-deferred.
WHO QUALIFIES?
Trump Accounts are available to all children under age 18, provided the child is a U.S. citizen and has a valid Social Security number. An authorized adult — including a parent, legal guardian, grandparent or sibling — can open an account on a qualifying child’s behalf.
A child welfare agency of a state, territorial, or tribal government that is the legal guardian can also open a Trump Account for an eligible child in foster care, according to the Treasury’s guidance.
WHO GETS THE $1,000 FEDERAL DEPOSIT?
Children born from 2025 through 2028 can receive a one-time $1,000 deposit from the U.S. Treasury Department as part of a pilot program designed to jump-start long-term savings.
That seed money gets automatically deposited once an account is opened and verified. Families can track account activity with the Trump Accounts app, which was designed in partnership with Robinhood.
Brad Gerstner, founder of Invest America and Altimeter Capital and CEO, joins ‘Squawk Box’ to discuss Trump Accounts, a new investment account for children.