President Donald Trump’s administration launches “Trump Accounts” on July 4, tying the rollout to the 250th anniversary of the signing of the Declaration of Independence. The program creates a government-funded, tax-advantaged savings account for children born during Trump’s second term. Eligible children receive a $1,000 seed deposit meant to serve as initial “seed money” that can be invested to grow over time.
According to reporting, families and legal guardians can open the accounts for children meeting eligibility requirements, including U.S. citizenship and having a Social Security number, with a birth window cited as January 1, 2025 through December 31, 2028. The funds are held in the child’s name with a parent designated as custodian until the child reaches 18, and withdrawals are generally restricted before that age. At 18, the account is described as converting to a traditional IRA-like structure, with later withdrawals potentially used for qualified expenses such as education (including 529-related expenses) or a home purchase, subject to applicable rules.
Sources also describe a $5,000 annual contribution limit per child and note that parents can begin contributing once accounts are active. Some outlets report that Americans have already invested significant sums in the first days after launch.
