Trump Accounts
How Do I Get a Trump Account? — A Complete Guide for Parents & Guardians
Parents and guardians everywhere are asking: What exactly are Trump Accounts? How do I sign up, and what happens after I enroll? Here’s everything you need to know in plain English so you can take action this tax season and plan ahead for your child’s financial future.
🧸 What Trump Accounts Are (And Why They Matter)
Trump Accounts are new tax-advantaged investment accounts available for children who are U.S. citizens and under the age of 18. They’re designed to help families start building long-term savings from early in a child’s life.
👉 Each eligible child born between January 1, 2025, and December 31, 202,8 can receive a one-time $1,000 contribution from the U.S. Treasury, plus optional additional contributions from parents and family.
Here’s the big picture of how they work:
The account is owned by the child, with a parent or legal guardian serving as custodian until age 18.
The money grows over time, invested in low-cost U.S. equity index funds.
Once the child turns 18, they can use the money for college, a home down payment, business startup costs, or keep growing it like a retirement account.
Contributions grow tax-deferred, and regular IRA rules typically apply after age 18.
🛠 Step 1 — Determine If Your Child Is Eligible
Your child qualifies for a Trump Account if they meet these basics:
✔ Is a U.S. citizen
✔ Has a valid Social Security number
✔ Is under age 18 at the end of the year you elect the account (so for a 2026 election, born after Dec 31, 2008)
👉 Important: Only children born between 2025–2028 receive the $1,000 federal seed money — but any eligible child under 18 can still have an account opened for them.
📝 Step 2 — Make the Election to Open the Account
There are two ways to elect a Trump Account:
🧾 A. IRS Form 4547 (Tax Filing)
File IRS Form 4547, called Trump Account Election(s), with your 2025 tax return — due April 15, 2026.
On the form, you can elect to:
Open the Trump Account, and
Claim the $1,000 federal contribution if your child qualifies.
Who can file it?
Parents or legal guardians. In some cases, a grandparent or adult sibling may also be an authorized filer.
📌 Filing with your taxes now is the easiest way to ensure the account is ready when contributions start.
🌐 B. Online Portal at TrumpAccounts.gov (Summer 2026)
An online signup tool will be available at trumpaccounts.gov starting July 2026. This lets you elect an account and, eventually, manage some account details.
💰 Step 3 — What Comes Next After You Elect an Account
Once you’ve elected an account:
🔓 Account Activation
After your election is processed:
The U.S. Treasury or its agent will help set up the account and assign it to a financial institution.
You (the parent/guardian) will complete an authentication process to activate it.
📅 Contribution Rules
👶 Federal Seed Money:
$1,000 from the U.S. Treasury for kids born in 2025–2028 only.
👨👩👧👦 Your Contributions:
You can contribute up to $5,000 per child per year starting July 4, 2026.
👨👨👧👦 Others Can Also Contribute:
Employers, family members, friends, charities, and even government entities can also add money (some contributions don’t count against that $5,000 cap).
📈 Growth & Withdrawal
The account grows tax-deferred over time.
No withdrawals allowed before age 18 in most cases.
After 18, the child can decide to use the funds for education, a first home, business ventures, or let it continue growing.
📍 Key Deadlines & Takeaways
📌 April 15, 2026: File Form 4547 with your 2025 tax return.
📌 July 4–5, 2026: Contributions officially begin.
📌 2025–2028 births: Eligible for the $1,000 federal start-up money.
🧠 Final Thoughts
Trump Accounts represent a historic new wealth-building tool that could give the next generation a meaningful financial start. By acting now — especially by filing IRS Form 4547 with your tax return — you’ll lock in eligibility and set your child up for long-term growth through investing.
Tip: Even if your child doesn’t qualify for the $1,000 seed money, opening the account and contributing early could make a big difference by the time they turn 18.
Need help? Book a call with Lisa Brugman, EA and Associates.
