Trump Accounts launched July 4 with a $1,000 seed deposit for eligible kids. See contribution limits, rules and how these new savings accounts work.
A Trump Account is a new tax deferred savings account for children under 18 that officially opened for contributions on July 4. Parents, relatives, employers and other donors can now put money into these accounts, and kids born between January 1, 2025 and December 31, 2028 qualify for a $1,000 seed deposit from the Treasury Department, invested directly into the stock market.
At a Glance
- Trump Accounts, also called 530A accounts, launched for contributions on July 4
- Children born between 2025 and 2028 get an automatic $1,000 government deposit
- Annual contributions are capped at $5,000 per child, with employer gifts limited to $2,500
- Bank of New York Mellon and Robinhood are the initial administrators
- About six million people have signed up so far, according to the Treasury Department
How the Accounts Work
The accounts were created under last year's One Big Beautiful Bill Act and function something like a starter retirement account for kids. Emerson Sprick, director of retirement and labor policy at the Bipartisan Policy Center, described them as a way to help children begin building retirement style savings as early as possible. Treasury Secretary Bessent has called the accounts a rainy day fund that beneficiaries can tap once they reach adulthood.
Until the beneficiary turns 18, the account sits in what's known as a growth period. During that stretch, money must go into mutual funds or exchange traded funds that track broad indexes such as the S&P 500, and those funds cannot charge fees above 0.1%. Once the child reaches 18, the account converts into something that behaves like a traditional IRA, giving the now adult owner more control over how the money is invested and used.
Setting Up and Managing an Account
Parents can open a Trump Account through the Trump Accounts app or at trumpaccount.com. Bank of New York Mellon is handling administration at launch, working alongside the online brokerage Robinhood. Families are not locked into that pairing forever: accounts can be rolled over to a different financial institution for the same child during the growth period, according to the Bipartisan Policy Center. The app itself shows account holders a snapshot of their portfolio and how it has performed over time.
Contribution Limits and Outside Support
Setting aside the government's $1,000 seed money and any charitable gifts, total contributions are capped at $5,000 per child per year. Employers can chip in as well, but their contributions max out at $2,500 annually and count toward that same $5,000 ceiling rather than sitting on top of it.
Some private donors have already stepped in. In December 2025, Michael and Susan Dell pledged $250 for each of 25 million American children. That money is earmarked for kids born before 2025 who are under 10 and therefore don't qualify for the Treasury's $1,000 seed contribution.
| Feature | Detail |
|---|---|
| Launch date | July 4 |
| Eligible for $1,000 seed deposit | Children born January 1, 2025 to December 31, 2028 |
| Annual contribution limit | $5,000 per child (excludes seed money and charitable gifts) |
| Employer contribution cap | $2,500 per year, counted within the $5,000 limit |
| Initial administrators | Bank of New York Mellon and Robinhood |
| Investment requirement during growth period | Broad index mutual funds or ETFs with fees under 0.1% |
| Account behavior after age 18 | Operates like a traditional IRA |
Frequently Asked Questions
Who can contribute to a Trump Account?
Parents, guardians, employers, relatives and other donors can all deposit money into a child's account, subject to the annual limits.
Does every child get the $1,000 government contribution?
No. Only children born between January 1, 2025 and December 31, 2028 qualify for the automatic Treasury deposit.
Children born earlier may still receive private contributions, such as the $250 gifts pledged by Michael and Susan Dell for kids under 10 born before 2025.
Can the account be moved to a different bank?
Yes. During the growth period, the account can be rolled over to a Trump Account at another financial institution for the same beneficiary, according to the Bipartisan Policy Center.
What happens to the account once the child turns 18?
The account transitions out of its restricted growth period and starts operating like a traditional IRA, with the investment rules that apply to standard retirement accounts.
What Comes Next
With roughly six million people already signed up, the real test now is how families use these accounts over the coming years and whether more employers and donors follow the Dells' lead. The next few contribution cycles should show whether Trump Accounts become a routine part of family financial planning or remain a niche benefit for those who already know to look for it.
