Trump Accounts: Who Is Eligible, How To Open One And What Benefits They Offer
Trump Accounts: Who Is Eligible, How To Open One And What Benefits They Offer Published By, Last Updated: May 28, 2026, 22:40 IST US Treasury
Trump Accounts: Who Is Eligible, How To Open One And What Benefits They Offer Published By, Last Updated: May 28, 2026, 22:40 IST US Treasury launches Trump Accounts under One Big Beautiful Bill Act of 2025, giving eligible children $1000 in tax deferred index funds via a free app with added contributions. US Treasury. (Image: Reuters) The US Treasury Department has officially rolled out “Trump Accounts," a new government-backed investment programme aimed at helping children build long-term wealth from an early age. Launched under President Donald Trump’s One Big Beautiful Bill Act of 2025, the initiative has now gone live on app stores across the United States, with activation emails being sent to users ahead of the programme’s official launch on July 4. Here’s everything to know about the scheme What are Trump Accounts?
Trump Accounts are investment accounts created for children to encourage long-term savings and stock market participation from birth. Under the programme, the US Treasury will deposit $1,000 as seed money into accounts opened for eligible children. The money will automatically be invested in a low-cost index fund designed for long-term growth. Who is eligible? Children born between 2025 and 2028 with a valid Social Security number qualify for the government-funded contribution. Who can contribute to the accounts? In addition to the initial government deposit, contributions can be made by Parents Family members Employers Charitable organisations The annual contribution limit is capped at $5,000 per year. How can people open the account? The accounts can be accessed through a dedicated app launched in partnership with trading platform Robinhood and custodian bank BNY.
People who signed up have already begun receiving activation emails from the Treasury Department. Are the accounts free? Yes. The accounts are free to open and maintain. How are the funds taxed? The funds grow on a ta deferred basis, meaning gains are only taxed when money is withdrawn. Children gain control of the accounts once they turn 18 years old. They can either withdraw the funds or continue investing. Why is the US launching this programme? The Trump administration says the scheme is aimed at improving financial security and economic mobility by encouraging investing from an early age. Supporters believe long-term access to market returns could help future generations build stronger financial foundations. Several major US firms, including JPMorgan Chase, Wells Fargo, Bank of America and Visa, have reportedly pledged contributions for eligible children of their employees.
Treasury Secretary Scott Bessent described the app as a major step towards helping millions of Americans build wealth over time. News18 Newsletter Handpicked stories, in your inbox A newsletter with the best of our journalism submit Location: Washington D.C., United States of America (USA) First Published: May 28, 2026, 22:40 IST News world Trump Accounts: Who Is Eligible, How To Open One And What Benefits They Offer Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy Loading comments...
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