Did you have a baby in 2025 or later? Your child might be eligible for a $1,000 government contribution to a new kind of savings account. It’s called a Trump Account.
Let’s walk through what it is, who qualifies, and how to sign up.
What Is a Trump Account?
A Trump Account is a new type of savings account for kids under 18. It works a lot like a retirement account (an IRA), except it’s set up in your child’s name from birth. The money inside grows tax-deferred, meaning you don’t pay taxes on the growth each year. It’s only taxed later, when the money is eventually withdrawn.
The government created Trump Accounts through a law called the Working Families Tax Cuts (also known as the “One Big Beautiful Bill Act”), signed on July 4, 2025.
As part of the program, eligible children born between 2025 and 2028 can get a one-time $1,000 contribution from the U.S. Treasury to start their account off. They may also receive additional funds from other philanthropists and organizations.
Money inside a Trump Account is invested in mutual funds or ETFs that track U.S. stock indexes, like the S&P 500. You can’t choose individual stocks or other investment types while your child is under 18.
Who Is Eligible?
Two separate things determine eligibility here, and it’s important not to mix them up.
To have a Trump Account at all, your child just needs to be under18 and have a valid Social Security number.
To get the $1,000 government contribution specifically, your child also needs to:
- Be a U.S. citizen
- Be born between January 1, 2025, and December 31, 2028
- Not have already received a pilot program contribution
You can only claim the $1,000 contribution for a child you’re able to claim as a dependent on your taxes.
How Much Can I Get?
The government’s contribution is $1,000, one time only, for eligible children.
Some organizations are providing extra contributions to certain children as well.
Michael and Susan Dell pledged $6.25 billion to provide $250 contributions to qualifying children age 10 and under who are not receiving the federal government’s $1,000 newborn contribution.
Gwynne Shotwell and her husband pledged shares of SpaceX stock to Trump Accounts for more than two million children ages 11 through 17, with a focus on lower-income communities.
- Acorns – $1,000
- American Securities Association – $1,000
- Bank of America – $1,000
- Bank of New York Mellon – $1,000
- BlackRock – $1,000
- Block, Inc. – Amount not specified
- Broadcom – Amount not specified
- Brownstein Hyatt Farber Schreck – $1,000
- Center for a Free Economy – $2,500
- Charles Schwab Corporation – $1,000
- Charter Communications – Amount not specified
- Chime Financial – $1,000
- Chipotle – $1,000
- Circle Internet Group – $1,000
- Citi – $1,000
- Coinbase – $1,000
- Comcast – Amount not specified
- Continental Resources – Amount not specified
- CrowdStrike – $1,000 per eligible family
- CTIA – Amount not specified
- Dell Technologies – $1,000
- Empower – $1,000
- Fox Corporation – $1,000
- Franklin Templeton – $1,000
- Galaxy Digital – $1,000
- Goldman Sachs – $1,000
- Heritage Foundation – Up to $2,500
- IBM – Up to $2,000
- Intel – $1,000
- IntraFi – Up to $2,500
- Invesco – $1,000+
- Investment Company Institute – $1,000
- JPMorgan Chase – $1,000
- Mastercard – Amount not specified
- Morgan Stanley – $1,000
- Nasdaq – $1,000
- News Corporation – $1,000
- Novelis – Up to $1,000
- Nvidia – Amount not specified
- Replit – $1,000
- Robinhood Markets – $1,000
- Russell Investments – $1,000
- S&P Global – $1,000
- SAP SE – $1,000
- SoFi Technologies – $1,000
- State Street – $1,000
- Steak ‘n Shake – $1,000
- Strategy, Inc. – $250 annually + $1,000
- Turning Point USA – $1,000
- Uber – Amount not specified
- Vanguard – $1,500
- Visa – Amount not specified
- Wells Fargo – Amount not specified
Anand Legacy Foundation – $1,000 for Kern County newborns
The foundation pledged $500,000 to provide $1,000 contributions to qualifying newborns in Kern County whose mothers are enrolled in eligible rehabilitation programs.
Anonymous San Francisco Donor – $500 for San Francisco babies in 2026
An anonymous donor pledged $3.5 million so babies born in San Francisco during 2026 can receive approximately $500 each.
Dalio Philanthropies – $250 for 300,000 children
Ray and Barbara Dalio committed to $250 contributions for approximately 300,000 children in Connecticut.
Ed Freedman’s Stable Road Foundation – $250 for foster youth ages 11-17
The foundation will contribute $250 to Trump Accounts for eligible Hawaii foster youth ages 11 through 17.
Michael and Susan Dell Foundation – $250 for younger foster children
The Dell Foundation will provide $250 to qualifying foster children age 10 and under who were born before 2025.
State of Hawaii – Funded accounts for all foster children
Hawaii is coordinating federal and philanthropic funding so eligible foster children across all age groups can receive funded Trump Accounts.
Brad Gerstner – $250 for children under five
Brad Gerstner committed to providing $250 to Trump Accounts for children under age five in Indiana.
Michael and Susan Dell Foundation – $250 for younger foster children
The Dell Foundation will provide $250 to qualifying foster children age 10 and under who were born before 2025.
State of Hawaii – Funded accounts for all foster children
Hawaii is coordinating federal and philanthropic funding so eligible foster children across all age groups can receive funded Trump Accounts.
State of Oklahoma – $250 for eligible Oklahoma children
Oklahoma authorized a one-time $250 state contribution to the Trump Account of each eligible Oklahoma child once the family applies and the account is verified.
Kraken – Amount not specified for 2026 newborns
Kraken will make a contribution to Trump Accounts for every child born in Wyoming during 2026. The amount was not specified in the source.
Beyond that initial deposit, parents, family members, or others can add up to $5,000 a year to the account (this limit may go up slightly after 2027 to keep pace with inflation). Contributions from individuals are made with money you’ve already paid taxes on, so there’s no tax deduction for putting money in.
Contributions from employers are capped separately at $2,500 a year per employee. Contributions from nonprofits or government programs don’t count against the $5,000 limit at all.
How Do I Apply?
If your child was born in a hospital, the easiest path is through the hospital’s newborn paperwork. The Social Security Administration is updating the same forms hospitals use to apply for a newborn’s Social Security number (called Enumeration at Birth) so that a Trump Account can be set up automatically at the same time. Future Social Security card mailers for newborns will also include information about signing up.
If your child is already born and you haven’t set up an account yet, you can:
- Download the official Trump Accounts app from the App Store or Google Play, or visit trumpaccounts.gov
- Complete IRS Form 4547 to open the account and claim the $1,000 contribution for an eligible child
Once the account is open, you (the parent or guardian) act as the sole custodian until your child turns 18.
What Happens When My Child Turns 18?
This is one of the most important things to understand before you rely too heavily on this account.
No withdrawals are allowed at all before your child turns 18. Once they do, the account automatically converts into a traditional IRA in their name, and standard IRA rules apply from there.
That means withdrawals before age 59½ are generally taxed as regular income and hit with an extra 10% penalty, just like cashing out a retirement account early. There are some exceptions where the 10% penalty is waived (though income tax still applies), including:
- Qualified education expenses
- A first-time home purchase, up to $10,000
- Birth or adoption expenses, up to $5,000
- Certain medical expenses or disability
Because of these rules, Trump Accounts work differently than a 529 college savings plan or a basic savings account. The money isn’t meant to be easily accessible for everyday needs. It’s designed to sit and grow for decades, similar to retirement savings.
Frequently Asked Questions
It’s normal to have big questions about a program like this.
No. A 529 plan is specifically for education costs, and qualified withdrawals are tax-free. A Trump Account isn’t limited to education, but withdrawals are taxed like a retirement account, and early withdrawals typically come with a penalty even for things like college tuition.
No. A 529 plan is specifically for education costs, and qualified withdrawals are tax-free. A Trump Account isn’t limited to education, but withdrawals are taxed like a retirement account, and early withdrawals typically come with a penalty even for things like college tuition.
Your child can still have a Trump Account opened for them (anyone under 18 with a Social Security number qualifies), but they won’t be eligible for the $1,000 government contribution, which is limited to children born between 2025 and 2028.
Relief Recap
A guaranteed $1,000 head start for your child costs you nothing to claim, but it comes with real restrictions worth understanding before you count on it for near-term needs. If you’re weighing this against other ways to save for your kids, check out our guide to financial help for special needs children and our roundup of hardship grants for support that’s available sooner.
