Trump Accounts Are Live: What Parents Should Know and How to Create an Account

Trump Accounts are officially live, giving parents and guardians a new way to start building long-term savings for their children.

These accounts were created under the Working Families Tax Cuts and are designed as tax-advantaged investment accounts for eligible children. According to the IRS, parents, guardians, and other authorized individuals can establish a Trump Account for a child who has not turned 18 before the end of the calendar year in which the election is made and who has a valid Social Security number. Children who are U.S. citizens born between January 1, 2025 and December 31, 2028 may also qualify for a one-time $1,000 pilot program contribution from the U.S. Treasury.

Below is what families should know, how to get started, and what to watch for before opening an account.

What Is a Trump Account?

A Trump Account is a new type of individual retirement account for eligible children. The account is opened in the child’s name, with a parent or guardian serving as the custodian until the child turns 18.

The purpose is to give children an early financial foundation through long-term investing. Contributions can grow over time, and the account may later be used by the child once they reach adulthood, subject to applicable rules.

The official Trump Accounts website states that the account is available for U.S. citizens under 18 and can be accessed through the official Trump Accounts app on the App Store or Google Play.

Who Is Eligible for a Trump Account?

A child may be eligible for a Trump Account if they:

Have not turned 18 before the end of the calendar year in which the election is made Have a valid Social Security number Meet the applicable requirements under the Trump Account rules

For the special $1,000 pilot program contribution, the child must be a U.S. citizen born between January 1, 2025 and December 31, 2028, and have a valid Social Security number.

How Much Does the Government Contribute?

Eligible children born between January 1, 2025 and December 31, 2028 may receive a one-time $1,000 contribution from the U.S. Treasury.

Treasury announced that eligible children would begin receiving the $1,000 pilot program contribution starting July 4, 2026.

This is not automatic for every child. Families still need to complete the required election process.

How to Create a Trump Account

To get started, parents, guardians, or other authorized individuals should use the official government resources.

Step 1: Go to the Official Website

Start at the official Trump Accounts website: TrumpAccounts.gov.

This is important because new government programs often attract scams, fake websites, and phishing emails. Treasury specifically advises families to use TrumpAccounts.gov for the latest official information.

Step 2: Sign In or Create an IRS Account

The IRS says families can get started by signing in to their IRS account with ID.me. If you do not already have an IRS online account, you may need to create one first.

Step 3: Submit IRS Form 4547

To open the initial Trump Account, you will need to complete and submit Form 4547, Trump Account Election(s). The IRS states that Form 4547 is used to elect to open an initial Trump Account and to request the one-time $1,000 pilot program contribution, if the child is eligible.

Step 4: Have Your Child’s Information Ready

The IRS says the process should take about 5 to 10 minutes. You will need:

An ID.me account Your child’s Social Security number Your child’s date of birth Your child’s address

Step 5: Download the Official Trump Accounts App

The official Trump Accounts app is available through the App Store and Google Play. Families can use the app to access and manage the account.

How Much Can Parents or Others Contribute?

The official Trump Accounts website states that families can add up to $5,000 per year to the account.

Treasury also announced that beginning July 4, 2026, Trump Accounts can accept contributions from parents, family members, employers, and other eligible contributors, subject to annual limits.

This means grandparents, family members, and possibly employers may be able to help contribute, but families should be mindful of the annual contribution limits and tax rules.

What Are Trump Accounts Invested In?

Treasury announced that at launch, Trump Account contributions will be invested in the State Street SPDR Portfolio S&P 500 ETF, known as SPYM, which tracks the S&P 500 Index. Treasury also announced additional low-cost index ETF options that are expected to become available in the coming months.

The additional listed investment options include:

iShares Core S&P 500 ETF, IVV Vanguard Total Stock Market ETF, VTI State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF, SPTM iShares Core S&P Total U.S. Stock Market ETF, ITOT

Treasury stated that SPYM will be the default investment at launch and that future functionality is expected to allow parents or guardians to choose how funds are allocated across the additional investment options.

As with any investment account, there is risk. The account may go up or down in value depending on market performance.

What Happens When the Child Turns 18?

The account is held in the child’s name, with the parent or guardian acting as custodian until the child reaches age 18.

The official Trump Accounts website states that once the child turns 18, the account is theirs. They may be able to continue letting the funds grow or withdraw funds for purposes such as education or a home, with tax treatment similar to a traditional IRA.

Families should be careful here. Withdrawals, taxes, penalties, and qualified uses may depend on final rules and the child’s specific situation at the time funds are accessed.

Gift Tax and Contribution Questions

One question families may have is whether contributions from relatives or others could create gift tax reporting issues.

The IRS recently issued a safe harbor for certain Trump Account contributions. Under that safe harbor, if certain requirements are met, contributions made by individual donors to Trump Accounts in a given year will not be subject to gift tax reporting requirements for that year.

That does not mean every contribution is automatically tax-free or free from reporting concerns in every situation. Large gifts, multiple accounts, employer contributions, and family-specific circumstances may still require tax guidance.

Watch Out for Scams

Because this is a new program, families should be extra cautious.

Treasury says official initial activation emails will come only from no-reply@TrumpAccounts.Treasury.gov, and future communications will be available through the official Trump Accounts app or from email addresses ending in @trumpaccount.com. Treasury also warns that it will never ask for passwords, one-time verification codes, or sensitive account credentials by email, text message, or phone call.

If you are unsure whether a message is legitimate, do not click random links or call phone numbers from search results. Treasury recommends visiting TrumpAccounts.gov or calling the official Trump Account call center at 1-866-USA-4547.

Should You Open a Trump Account for Your Child?

For many families, a Trump Account may be worth considering, especially if the child qualifies for the $1,000 Treasury contribution.

However, it should be viewed as one piece of the bigger financial picture. Families may also be considering 529 plans, custodial accounts, Roth IRAs for working children, savings accounts, or other planning tools.

Before contributing, consider:

Whether your child qualifies for the $1,000 pilot contribution How this account fits with your existing college savings plan Whether family members or employers may contribute How much you can afford to contribute annually The investment risk involved How future withdrawals may be taxed Whether the account affects your broader tax or financial planning strategy Final Thoughts

Trump Accounts are now live, and eligible families may be able to create an account, request the $1,000 pilot program contribution, and begin saving for their child’s future.

The most important first step is to use the official website, TrumpAccounts.gov, and submit the required Form 4547 through the proper IRS process.

At Kamish & Associates, we know new tax programs can create both opportunities and confusion. If you have questions about how a Trump Account may fit into your family’s tax picture, contribution strategy, or overall financial planning, we are here to help you understand the tax side before you make decisions.

Disclaimer: This article is for general informational purposes only and should not be considered tax, legal, or investment advice. Trump Account rules may continue to evolve, and each family’s situation is different. Please consult with a qualified tax professional before making decisions.