Trump Accounts for Kids Launches With $250 Gift for Early Sign-Ups
The Trump administration has launched Trump Accounts, federally backed tax-deferred savings accounts for U.S. children under 18 under the Working Families Tax Cuts Act. Parents register via an IRS account and submit Form 4547 to elect their child. Families can contribute up to $5,000 per year, and the accounts will function like traditional IRAs once the child reaches adulthood. The Dell family will gift $250 to the first 25 million qualifying children, and children born between 2025 and 2028 are eligible for a one-time $1,000 Treasury deposit. The program is supported by philanthropists and companies (including BlackRock, Chipotle, MasterCard, Block, Robinhood, and Chime), with Trump urging more corporate funding for the future of savers and investors.