The Trump Accounts app is live nationwide. Parents can now open and manage investment accounts for their kids through this new mobile app.
The program's biggest draw: eligible newborns get a $1,000 federal starter deposit that grows over time through compound returns.
The Treasury Department confirmed the launch Thursday. The app runs on both iPhone (iOS) and Android devices and serves as the main access point for the savings program.
What Are Trump Accounts?
Trump Accounts were created under the Working Families Tax Cuts law. These are tax-advantaged investment accounts for children under 18 with a valid Social Security number.
Simple version: Think of Trump Accounts as a long-term investment account for your child. The government gives eligible newborns $1,000 to start. You add more money over time. The money grows through investments, and your child accesses it at age 18.
Learn about Social Security numbers at ssa.gov.
Who Qualifies for the $1,000 Starter Deposit?
Your Child Must Meet These Requirements:
| Requirement | What You Need |
|---|---|
| Birth date | Between January 1, 2025 and December 31, 2028 |
| Age | Under 18 years old |
| Social Security number | Must have a valid SSN |
| Residency | Must live in the United States |
What Parents Must Do:
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Fill out IRS Form 4547 to open the account
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Elect (choose) to receive the $1,000 starter payment
Important: The $1,000 is NOT automatic. You must file IRS Form 4547 to claim it.
Read about tax forms at IRS.gov.
How to Sign Up (4 Simple Steps)
Step 1: Download the App
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Get the Trump Accounts app from the App Store (iPhone) or Google Play Store (Android)
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Built by Treasury Department with BNY and Robinhood
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Robinhood manages the investments
Step 2: Open Your Account
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Fill out IRS Form 4547 through the app
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Enter your child's Social Security number and birth date
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Elect to receive the $1,000 federal starter deposit
Step 3: Wait for Program Launch
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Program opens for contributions on July 4, 2026
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Your $1,000 deposits after account approval
Step 4: Add More Money (Optional)
Others can contribute too:
| Contributor | Annual Limit |
|---|---|
| Parents or individuals | Up to $5,000 per child |
| Employers | Up to $5,000 per child |
| Government or charities | May not count toward $5,000 limit |
How $1,000 Could Grow Over Time
The program's power comes from compound growth: your money earns returns, and those returns earn more returns.
Example: $1,000 at 10 Percent Annual Return (S&P 500 Historical Average)
| Child's Age | Balance (Before Taxes or Fees) |
|---|---|
| 18 | $5,560 |
| 25 | $9,474 |
| 30 | $17,449 |
| 40 | $45,259 |
Not guaranteed. Stock market fluctuates.
Your actual balance depends on:
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Investment performance
-
Account fees
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How much you contribute
-
Withdrawal timing
Learn investing basics at Investor.gov.
What Investments Are Allowed?
Trump Accounts only invest in approved options:
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Low-cost funds tied to U.S. companies
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Diversified portfolios (like index funds)
You cannot buy individual stocks or cryptocurrency. Limited options keep things simple and safer.
When Can You Withdraw Money?
| Child's Age | Withdrawal Rules |
|---|---|
| Under 18 | Generally cannot withdraw |
| 18 or older | Can withdraw, but rules apply |
| Before 59 and 1/2 | May owe taxes plus 10 percent penalty for early withdrawal (exceptions exist) |
After age 18, Trump Accounts follow traditional IRA rules.
Read IRA rules at IRS.gov Retirement.
Trump Accounts vs. Other Savings Options
| Account Type | Best For | Main Benefit | Main Limitation |
|---|---|---|---|
| Trump Account | Long-term investing plus free $1,000 | Free starter deposit; tax-advantaged growth | Locked until 18; limited investments |
| 529 Plan | College expenses | Tax-free growth for education | Only for education (penalty otherwise) |
| Custodial Account | Flexibility | Any investments; any use | No tax benefits; child owns at adulthood |
| Roth IRA | Child with earned income | Tax-free retirement withdrawals | Child must have income; no free $1,000 |
Learn 529 plans at Investor.gov 529.
Learn Roth IRAs at IRS.gov Roth IRA.
Bottom line: The best option depends on your family's goals, tax situation, and contribution ability.
Should You Sign Up? Questions to Ask Yourself
Trump Accounts Might Be Right If:
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You want a simple investing start for your child
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Your child qualifies for the $1,000 free deposit
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You are planning 18 plus years ahead (long-term)
Keep These in Mind:
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Not the only option. 529 plans may be better for college savings
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Market risk. Balance depends on investment performance
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Locked until 18. No early withdrawals
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Tax rules after 18. IRA regulations apply
Final Thoughts
If your child qualifies, the $1,000 federal deposit is just the beginning. The real question: can time, regular contributions, and smart investing turn it into something meaningful?
The Trump Accounts app makes joining easy. But the key decision is not downloading the app. Parents need to understand:
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What the account is for (long-term investing, not short-term cash)
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How long money stays invested (at least 18 years)
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What rules apply when the child turns 18
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