Trump Accounts app debuts to kickstart kids' savings with a $1,000 government gift
The Trump Accounts app is rolling out to help families manage tax-advantaged accounts for children, including a July 4 $1,000 government contribution for eligible kids born 2025–2028; accounts are opened and managed by parents until age 18, after which funds can be used for qualified expenses; annual contributions cap is $5,000 per child (excluding the gift). Access via App Store, Google Play, or TrumpAccounts.gov after IRS login and Form 4547; withdrawals before 18 are restricted except for specified rollovers or death; post-18, standard IRA rules apply; activation emails will be sent in phases, and the Treasury cautions against scam calls or texts.