Authorized individuals (such as parents, guardians, adult siblings, or grandparents) can elect to activate an account for eligible children. If you are electing to open the account and applying for the $1,000 pilot program contribution, you must be an individual who anticipates that the eligible child will be your "qualifying child" for tax purposes for the year that you are making the election.

A child is permitted to have only one Trump Account. After the IRS processes the first valid election to activate an account for a child, the IRS will not process any further elections to open another account for that same child.

The account is legally owned by the child (minor under the age of 18) but is managed by a responsible party (such as a parent or legal guardian). Minors are not allowed by law to manage the account until they reach age 18.

On or after July 4, 2026, anyone can contribute to a child’s Trump Account. Parents, family, and friends can add up to a total of $5,000 per year to an eligible child’s account. Employers can contribute up to $2,500 per year, per employee, which counts toward the $5,000 annual limit. Qualified donors, as well as state and local governments, can also contribute to these accounts. Note that contributions from qualified donors or state and local governments add extra support and don’t count towards the annual contribution limit.

Authorized individuals can contribute cash to your child’s account starting on or after July 4, 2026. When available through a qualified program, employers, donors, and state and local governments can make cash contributions to your child’s account.

Note that asset transfers through the Automated Customer Account Transfer Service (ACATS) or rollover funds or assets from a different type of savings account like a 529 or custodial IRA are not supported. Check out Link accounts for details about linking a bank or debit card for account funding.

The money is automatically invested and held in a dedicated account through the Depository Trust and Clearing Corporation (DTCC). This program operates in partnership with a federal record keeper and banking partner. Additionally, your child's investments are protected by SIPC coverage up to $500,000. Keep in mind though that SIPC does not protect against losses due to market fluctuations. Explanatory brochure available upon request or at www.sipc.org.

Funds in Trump Accounts will generally remain invested and are not available for withdrawal before the child reaches age 18. Until December 31 of the calendar year in which the child (account beneficiary) reaches age 17, the account has a $5,000 annual contribution limit that is separate from other custodial IRAs.

• Can only be invested in eligible investments,
• Has a $5,000 annual contribution limit that is separate from other custodial IRAs, and
• Distributions are generally restricted from the account.

After the child (account beneficiary) reaches age 18, the strict block on account withdrawals ends, and the account transitions to, and must follow the standard rules of a traditional IRA. For example, after this time, funds withdrawn from the account can be used without a 10% early distribution tax for certain eligible expenses, such as higher education expenses or a down payment on a first-time home purchase (up to $10,000 lifetime), subject to ordinary income tax but without an additional distribution tax.

A child can also keep the money invested in the account and continue to let it grow, providing potential long-term financial security later.

Children born during 2025 through 2028, may get a $1,000 pilot program contribution from the U.S. Department of the Treasury, if an authorized individual elects this option when completing IRS Form 4547. Employers, charitable organizations, and governments may contribute to Trump Accounts. Children won’t receive these types of contributions in any other child savings account.

Employers can allow an employee to make a pre-tax (salary reduction) contribution to the Trump Account of a dependent child. When contributions are made that way, Trump Accounts are more tax-favored than 529 accounts.

Also, 529 accounts can generally only be used on qualified educational expenses, as compared to Trump Accounts that have fewer restrictions on how the child spends the funds, after they reach age 18. Note that account distributions are subject to ordinary income tax upon withdrawal and unqualified expenses could result in a 10% early distribution tax.

Unlike a Trump Account that has no earned income requirement, a custodial IRA requires the child to have earned income (from a job) to make contributions. Note that you cannot rollover a 529 or a custodial IRA into your child’s Trump Account.

Same as traditional Individual Retirement Accounts (IRAs), Trump Account earnings are tax deferred and will remain tax deferred until the money is eventually withdrawn. This means the child won’t pay taxes on investment gains on an annual basis as long as the funds remain invested in the account. After the account transitions from a Trump Account to a traditional IRA without the special rules, when the child reaches age 18, the distributions (withdrawals) of any account earnings, pilot contributions, or qualified general contributions are subject to ordinary income tax. A 10% early distribution tax may apply if the beneficiary is under age 59½ when the withdrawal occurs.

Note that individual contributions are after-tax (no upfront deduction), while employer and government contributions are generally pre-tax. The contributions made by individuals (parents or family) are considered "basis" and are tax-free when withdrawn. However, distributions (withdrawals) cannot typically be made until the beneficiary (the child) reaches age 18. Unlike other IRAs, hardship withdrawals are not permitted before the child reaches age 18.

You’ll get a Form 5498-TA from the IRS for contributions made to the account for the applicable tax year. For permitted distributions, you’ll receive a Form 1099-R.

Trump Accounts are currently only available in US English. For assistance with translations, we recommend using a trusted translation service.

You can sign up in one of the following ways:

• You or your tax preparer can complete the IRS Form 4547 for your eligible child or children when filing your federal tax return or at another time, or
• Complete and submit the official online Form 4547

No problem. If you prefer to not sign up during tax filing, you can instead complete and submit the official online IRS Form 4547 or submit Form 4547 at another time.

Yes! This account belongs to a child and is intended to provide a starting point for their savings.

Your child’s money will have different investment options that offer broad exposure to U.S. companies, so the money may grow as those companies grow over time. We’ll provide more details about the different investment options as soon as they’re available.

Authorized individuals do not pay fees to open the account, receive money, or have the money invested. All contributions go into the account at no cost to parents, or other responsible parties. However, the investments in the account may be subject to management fees (also called expense ratios). These fees are charged by the funds.

Funds remain invested in the account and any returns will be reinvested to take advantage of compounding. This long‑term investment approach is designed to help accounts grow steadily until a child reaches age 18.

No. Earnings in Trump Accounts are tax-deferred, meaning the child won’t pay taxes on the money the investments earn each year as long as they’re reinvested within the account. That means more of the money stays in the account, keeps getting reinvested, and can grow over time.

Note that individual contributions are after-tax (no upfront deduction), while employer and government contributions are generally pre-tax. The contributions made by individuals (parents or family) are considered "basis" and are tax-free when withdrawn. However, distributions (withdrawals) cannot typically be made until the beneficiary (the child) reaches age 18. Account earnings are tax-deferred, not tax-free. Distributions (withdrawals) of account earnings and employer or government contributions are subject to ordinary income tax upon withdrawal. A 10% early distribution tax may apply if the beneficiary is under age 59½ when the withdrawal occurs. Unlike IRAs, hardship withdrawals are not permitted before the child reaches age 18.

If 2 parents submitted a Form 4547 for the same eligible child that are successfully processed by the IRS, then either parent can begin the account activation process on our platform. The account will be granted to the parent who completes the activation first. Only 1 account is permitted per child, so after the account is activated by a parent, the other parent’s application will no longer be eligible.

No, currently only the designated parent or responsible party who is managing the account for the child can log in with their credentials. We’re working on allowing read-only access to a 2nd parent, legal guardian, or responsible party to view your child’s account in the future.

We’re so sorry for your loss. You’ll need to contact us for assistance. We’ll ask you for an official copy of the death certificate, which we’ll provide you with instructions on how to securely upload it through our bereavement portal when you contact us. We’ll also need details about the person who will manage the account, such as the trusted contact or another authorized individual who has made contributions.

No, you cannot switch an existing account from one child to another child. The account is legally owned by the child, and only 1 account is permitted per child.

For the initial launch, you can’t close or deactivate the account. When a rollover marketplace is available, we will likely allow account closure after a transfer out, but until then, you cannot close or deactivate your child’s Trump Account.

We’ll keep unfunded accounts open to allow for future contributions. Note that when the child turns 18, we’ll close the account if it has a $0 balance. Note that if your child’s account has pilot contributions, they specifically cannot be withdrawn or distributed prior to the child turning 18.

After you reach age 18, you can continue to save or withdraw money from your account. At this time, your account will transition to and follow the standard rules of a traditional IRA. If you make a withdrawal, you can use the money for certain eligible expenses, such as higher education or a down payment on a first-time home purchase (up to a $10,000 lifetime), subject to ordinary income tax but without an additional distribution tax. As with any traditional IRA, withdrawals for other, unqualified expenses would be subject to an additional 10% early distribution tax until you reach age 59½.

If you choose to save, any assets that remain in your account, will remain invested and continue to grow over time, providing potential long-term financial security.

Yes! You can view account details just like your parents can. Ask your parents to show you how.

When you reach age 18, you assume management and control and will be prompted to set up your own account login information. At this point, your Trump Account will be converted to a traditional IRA, since Trump Accounts can only be opened for minors. Also, the responsible party (your parent) who had been previously managing the account on your behalf will no longer have access to it.

Yes! Prior to January 1st of the year when you reach age 18, you can contribute to your account. Any contributions you make count toward your account's $5,000 annual limit.

When you reach age 18 and your Trump Account converts to a traditional IRA, you will be able to continue contributing based on your earned income and the annual contribution limits set for IRAs by the IRS. For details, review IRS’s IRA contribution limits.

If you want to link your bank account to contribute to your Trump Account, we’ll send you instructions by email and in the app once your account is open and able to accept contributions.

Employers can make contributions as part of an employee benefits program directly into eligible children’s Trump Accounts. Consult your benefits provider for additional information.

Employers can structure their programs in a way that Trump Accounts for your children are not covered by ERISA.

Yes. Employers can add Trump Account contributions to their Section 125 plan (Cafeteria plan) benefits so that their employees can make contributions (up to the $2,500 limit) for their dependents as salary reductions on a pre-tax basis.

Employers can contribute up to $2,500 per employee per year across all of an employee’s children’s Trump Accounts. If an employee has more than one child with an account, this limit applies to all their children’s accounts, not individually but as a whole. This amount counts toward the $5,000 annual limit on total private contributions for each child. Federal government contributions do not count toward this limit.

Employer contributions of up to $2,500 are excluded from the employee's gross income, providing a tax-advantaged benefit.

Philanthropists can support Trump Accounts through Treasury‑facilitated giving or independent giving, depending on their goals and structure.