Trump Accounts start July 4: What parents need to know

Contributions into so-called Trump Accounts for children are set to start on July 4.

Under the new program, the Treasury Department will deposit $1,000 for each enrolled child born in the U.S. between Jan. 1, 2025 and Dec. 31, 2028.

All children under 18 are able to participate in the accounts provided they have a valid Social Security number, but only those born between 2025 and 2028 will get the $1,000 deposit.

RELATED: Melania Trump unveils Fostering the Future Accounts, a spinoff of Trump Accounts for foster kids

The Trump Accounts are part of President Donald Trump’s signature tax and spending bill that passed last year. At a summit for the Accounts in January, the president said they will be “one of the most transformative policy innovations of all time.”

Here’s what parents and families should know about Trump Accounts.

How to opt into Trump Accounts

Parents and guardians can open a Trump Account for eligible kids by electing in through IRS Form 4547 when filing a tax return.

A child’s family members, relatives and friends may contribute up to $5,000 into their Trump Account each year. Corporations and philanthropies like nonprofits and local governments may also make tax-deductible contributions of up to $2,500 a year into the account.

Multiple corporations, including BlackRock, Chipotle, Mastercard, Robinhood and Uber, have already said they will match Trump Account contributions and states are also expected to make contributions.

Billionaire Michael Dell, founder and CEO of Dell Technologies, and his wife, Susan Dell, pledged in December 2025 to donate over $6 billion to supplement Trump Accounts, seeding them with $250 each.

How Trump Accounts work

Money in Trump Accounts will be invested into the stock market, primarily in a broad index fund that tracks the market over time. The money would then increase over time with compound savings.

Trump Accounts are tax-advantaged, similar to the advantages of a traditional IRA. 

Accounts may be managed through the Trump Accounts official app or on TrumpAccount.com.

Kids will not have access to their Trump Accounts until they turn 18 years old and can then only use the funds for certain uses, such as paying for school, buying a home or launching a business without incurring penalties.

Children can contribute to the fund themselves once they start earning income.

Trump Accounts for older children

Children under 18 who were born before Jan. 1, 2025 are also eligible for Trump Accounts. However, these accounts won’t receive the $1,000 contribution from the federal government.