How to Register Your Child for a Trump Account

Key Points:

• The Trump administration has launched "Trump Accounts," federally-backed, tax-deferred investment savings accounts for American children under 18, allowing families to contribute up to $5,000 annually, which will function like traditional IRAs when the child reaches adulthood.
• Michael Dell and his wife, Susan Dell, pledged to gift $250 to the first 25 million qualifying children who sign up for Trump Accounts, aiming to make every child a shareholder in American capitalism.
• Parents can register for Trump Accounts by signing into or creating an IRS account and submitting Form 4547 through the app, tax filing, or the IRS website; children born between 2025 and 2028 with valid Social Security numbers are eligible for a one-time $1,000 deposit from the Treasury Department.
• The initiative has garnered support from philanthropists and major companies such as BlackRock, Chipotle, MasterCard, Block, Robinhood, and Chime, with Trump encouraging more businesses to contribute publicly traded stock to fund these accounts.
• Treasury Secretary Scott Bessent highlighted the Trump Accounts app's comprehensive features, including funding options and financial education modules, designed to promote a generation of savers, investors, and owners.