Parents urged to claim automatically enrolled Trump Accounts for children
Nearly 70 million Trump Accounts have been created for children born between 2025 and 2028, with most enrolled automatically; parents must use an app to claim the accounts and receive a $1,000 federal contribution.
The Treasury Department reported that close to 70 million Trump Accounts have been opened since the program began on July 4, with more than 60 million added through automatic enrollment. The accounts are tax-advantaged investment vehicles for U.S. citizens under 18, each containing a one-time $1,000 seed contribution from the federal government for children born between Jan. 1, 2025, and Dec. 31, 2028.
Parents or legal guardians serving as custodians must claim the accounts through the Trump Accounts app, available on iOS and Android, by verifying their identity, confirming their relationship to the child, and accepting the account terms. Claiming the account enables the custodian to receive the $1,000 contribution and to allow additional contributions from family, friends, or eligible employers. Under the One Big Beautiful Bill Act, up to $5,000 per child per year may be contributed, with contributions possible via a shared code or debit card.
Funds in the accounts are invested in diversified index funds with expense ratios capped at 0.1%. The default investment at launch is the State Street SPDR Portfolio S&P 500 ETF (SPYM), and Treasury indicated that four additional low-cost ETFs tracking broad U.S. market indexes will be added in the future. > "Parents can claim the account and enable contributions through the app," a Treasury spokesperson said.