Trump Accounts are officially live as of July 4, 2026, giving American families a new way to build long-term savings for their children.
Who Qualifies?
Any child who is a U.S. citizen under the age of 18 with a valid Social Security number is eligible, regardless of family income. Children born between January 1, 2025, and December 31, 2028, qualify for a one-time $1,000 federal contribution deposited directly into the account.
Who Can Open the Account?
The account must be opened by an authorized individual on behalf of the child, such as a parent, legal guardian, adult sibling, or grandparent, who will serve as the custodian until the child is 18.
Families seeking the $1,000 federal contribution must actively opt in, as enrollment is not automatic. In addition, the individuall opening the account must be someone who can claim the child as a dependent for Child Tax Credit (CTC) purposes.
How to Enroll
Enrollment is completed by submitting IRS Form 4547 through any of the following options:
- Online:Â Submit the form directly through the portal at TrumpAccounts.gov
- Tax Return:Â File the form alongside your personal tax return
- IRS Account:Â Submit the form through your IRS online account via ID.me
Who Can Contribute and How Much?
Anyone can contribute to a child’s Trump Account, including parents, grandparents, and friends. Contributions are not tax-deductible, and the annual limit is $5,000 per account. Employers can contribute up to $2,500 of that amount on a tax-free basis, and any contributions made by governments or nonprofits do not count toward the $5,000 limit.
Please contact your WG advisor if you have questions about Trump Accounts or any other tax matter.
