Trump accounts are now live: 6 million kids enrolled, $1,000 seed deposits for newborns. Here's how eligibility and signup work.
Trump accounts are now live, giving families a new federally seeded savings vehicle for children after a July 4 launch that Treasury officials say has already drawn 6 million enrolled accounts.
What Happened at the Launch
President Trump marked the rollout with a July 6 Oval Office ceremony, telling the room that American children would go from having essentially nothing to becoming, in his words, pretty rich by a young age. He said the idea had been floated in Washington for roughly 25 years before finally becoming law.
The event doubled as a market moment. Trump rang the opening bell for both the New York Stock Exchange and the Nasdaq simultaneously, something he said had never happened before, and the first time either bell had sounded from inside the Oval Office. He also said $800 million in new capital would flow into the stock market for children this week alone, combining private contributions with the government seed money.
Who Is Eligible and What They Get
The program deposits $1,000 in seed funding into a federal savings account for every child born between 2025 and 2028. Of the 6 million children now enrolled, 1.4 million are newborns who qualify for that initial deposit. Children under 18 who were born before 2025 can also open accounts, though they do not receive the automatic $1,000.
Treasury Secretary Scott Bessent said 86 percent of accounts belong to families earning less than $200,000 a year, a figure meant to counter arguments from some economists that the program would mostly benefit wealthier households.
Big Donors Behind the Push
Michael and Susan Dell stood alongside Trump at the ceremony after pledging $6.25 billion toward the initiative, and other wealthy individuals and corporations have added their own contributions. Trump used the moment to encourage the audience to buy Dell computers, a plug that raised some eyebrows given the ethical questions around a sitting president promoting a donor's products.
How Trump Accounts Actually Work
| Detail | What Applies |
|---|---|
| Launch date | July 4, 2026 |
| Total enrolled accounts | 6 million |
| Newborns with $1,000 seed deposit | 1.4 million |
| Eligible birth window for seed money | Children born 2025 to 2028 |
| Older children eligibility | Under 18, no seed deposit |
| How to apply | IRS Form 4547 online or with a tax return |
Opening an Account
Parents or legal guardians can file IRS Form 4547 directly at trumpaccounts.gov, entering the child's date of birth, Social Security number and contact details. The form can also be submitted alongside a federal tax return. Once the IRS processes the paperwork, it establishes the account, and a partner financial firm later contacts the family with instructions to finish setting it up, according to the program's official site.
