Around October 1, 2026, the U.S. Treasury automatically opened a Trump Account for eligible children under 18 who already had a Social Security number and did not already have one. Treasury put that number at more than 60 million new accounts.
An open account is not a funded account. The one-time $1,000 pilot contribution is a separate election. If nobody claims the account and makes that election, the account can sit empty.
This is an update to the June 5 episode on how families first signed up. That recording is still on the A Smarter Way to Retire YouTube channel. The rules below are educational, not a recommendation to fund any account, and not tax advice for your family.
Why Treasury opened the accounts
From the July 4 launch through late July, about 5.6 million elections had been filed. That is a large number, and it was still under 8 percent of eligible children. Temporary rules effective September 30 let Treasury open an automatic account for each eligible child with a Social Security number who did not already have one. Bank of New York Mellon is the trustee. The assets sit in a master trust.
That step creates the account. It does not deposit the $1,000.
Who can get the $1,000
The pilot contribution is for a U.S. citizen child born in 2025, 2026, 2027, or 2028, with a valid Social Security number. Treasury has said the statute does not let the Secretary make that election for the family. A parent, grandparent, or guardian has to claim the account and elect the deposit.
A child born in 2023 may now have an account and still receive nothing from Treasury. A child born in 2026 may have an empty account until someone claims it.
Where to claim it
[TrumpAccounts.gov](https://trumpaccounts.gov) is the Treasury site. After automatic enrollment, a parent or guardian claims the account there or in the official Trump Accounts app on iPhone or Android. You verify your identity, confirm you are the parent or guardian, review the child’s information, and accept the terms. Treasury has said the account has to be claimed before family, friends, or an employer can contribute, and before an eligible child can receive the $1,000.
[IRS Form 4547](https://www.irs.gov/forms-pubs/about-form-4547), Trump Account Election(s), is the other path. You can file it with a tax return or submit the election inside an IRS Individual online account. The app is the faster route. Waiting until next April leaves the account unclaimed for months.
What you can put in
During the growth period, which runs through December 31 of the year the child turns 17, family and friends can generally contribute up to $5,000 a year combined. An employer may contribute up to $2,500 a year as a nontaxable benefit, and that employer amount does not count against the $5,000 family cap. There is no individual tax deduction. Contributions could not start before July 4, 2026. That date has passed, so funding is open once the account is claimed.
Investments are limited to eligible investments. Think broad index exposure, not a stock-picking account. Withdrawals after the growth period are taxed as ordinary income. The account is tax-deferred, not tax-free. It is a head start. It is not a Roth IRA.
Do not mail a contribution to an account nobody has claimed.
529, UTMA, or Roth
A new account does not replace the ones you may already be using.
A 529 is still the cleaner vehicle if the money is for education. Contribution room is higher, and growth can be tax-free for qualified expenses. Unused 529 money can be rolled to a Roth IRA for the beneficiary within the annual IRA limit, a $35,000 lifetime cap, and a 15-year account-age rule.
A UTMA is more flexible. A first car, a wedding, a down payment. At the age of majority, the money belongs to the child. Earnings can be subject to the kiddie tax, and there is no IRA-style deferral.
A custodial Roth is still the strongest tax result if the child has earned income. An allowance does not count. A Trump Account does not require earned income, which is why it works for a toddler, and why withdrawals can be taxable later.
Claim the automatic account. Elect the $1,000 if the child is in the 2025-through-2028 window. Then decide where the next dollar goes. College money usually still wants the 529. A working teenager usually wants the Roth. The new account is an extra bucket, not the only bucket.
Do not confuse this with a Trump IRA
TrumpIRA.gov is a different program for adults. It is an information site for workers who do not have a workplace plan: independent contractors, part-time workers, self-employed people, and small-business employees. It explains low-cost IRAs and the federal Saver’s Match, up to $1,000 a year for eligible lower- and moderate-income savers. That match comes from the SECURE 2.0 Saver’s Match. It is not the children’s seed deposit.
The marketplace, where someone would compare listed IRAs and open one from the site, is scheduled for January 1, 2027. The website is live for information. The account-opening feature is not. Do not send a child’s contribution there.
America.gov is the map
The week before the children’s accounts were auto-opened, the White House launched [America.gov](https://www.america.gov) and signed an order making it a single online front door for federal information. Instead of guessing which of roughly 27,000 to 29,000 agency sites has the answer, you can ask in plain language and get an answer drawn from government pages. Later this year, some tasks, such as a passport renewal or a Medicare enrollment, may be finished on that site. Tax filing is excluded. National-security systems are excluded.
It is a directory and an answer desk. It does not hold the child’s account, accept a contribution, or replace the $1,000 election. Ask it where Form 4547 lives, then leave and finish the claim on TrumpAccounts.gov, in the app, or on IRS.gov.
What to do this month
1. If you have a child under 18, claim the account at TrumpAccounts.gov or in the official app.
2. If the child was born in 2025 through 2028, elect the $1,000. The deposit does not happen on its own.
3. Do not contribute to an unclaimed account, and do not send kids’ money to TrumpIRA.gov.
4. Then decide whether the next dollar belongs in this account, a 529, a UTMA, or a custodial Roth if the child has earned income.
If you want a second set of eyes on how this fits next to college funding and your own retirement plan, a complimentary 15-minute [Fit Call](https://www.leonardifamilywealthcare.com/fit-call) is available while openings remain.
The Roth IRA Conversion Playbook, 2026 Edition, and the Smart Tax Shield Legacy Playbook are under Books and Guides at [LeonardiFamilyWealthcare.com](https://www.leonardifamilywealthcare.com).
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