Trump Accounts are set to launch on July 4, tying the program to America’s 250th birthday. Eligible U.S.-citizen babies born between January 1, 2025 and December 31, 2028 can open child-named savings accounts and receive $1,000 seed money from the government,
By the time the calendar flips to July 4, the government plans to start moving money for America’s newest residents—$1,000 each, delivered through a newly designed account meant to last until a child turns 18.
The program. called Trump Accounts. is set to launch in connection with America’s 250th birthday and is expected to give around 1.5 million American babies $1. 000 to support their financial independence. The accounts are designed for parents and legal guardians to open on behalf of children born during President Trump’s second term.
The mechanics are specific because the rules are strict. The program follows a 2025 federal tax law that creates a new type of tax-advantaged savings account. giving families a path to build wealth early. Each Trump Account is established in the child’s name. with a parent or guardian acting as custodian until the child turns 18. Withdrawals are strictly prohibited before the 18-year mark.
After the child turns 18, the account automatically operates under traditional IRA rules. At that point. the account holder can make penalty-free withdrawals for certain life expenses—college tuition. first-time home purchases. or starting a business. But because it functions as a traditional IRA, ordinary income taxes still apply to all withdrawn funds.
Eligibility is where the biggest divide appears. Children eligible for the account and its seed money must be born between January 1, 2025, and December 31, 2028, be U.S. citizens, and have a Social Security number. Those born outside the time frame and still under the age of 18 can also apply for an account—but they will not receive the initial government seed money.
The program’s reach is already drawing attention. Around 5 million individuals younger than 18 have signed up for a Trump Account, though the seed money is reserved for the defined birth window.
Private giving is also part of the picture. Private donors have jumped in on contributions. some of which may be claimed by those born outside the eligible birthday window. One example is the Michael & Susan Dell Foundation: children 10 or younger in qualifying zip codes may be eligible for a $250 charitable deposit.
Once a Trump Account is active on or after July 4, families and employers may begin contributing. The annual limit is $5,000 per child, and the limit is expected to be adjusted for inflation in the years to come.
Families who want to set up an account can do so by filing an IRS Form 4547 directly via the IRS website or by visiting TrumpAccounts.gov. For those who have already signed up. activation has a deadline of its own: they’ll need to complete their account activation through the official app or the Trump Accounts website before the account can start accepting contributions.
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