By Sarah Brenner, JD
Director of Retirement Education
On July 4, contributions to Trump accounts, a new savings vehicle for children, will become available. In these final days before their launch, we have been getting questions from parents about exactly what they should be doing to take advantage of this new savings opportunity. Here is what parents need to know as we count down the days to the arrival of Trump Accounts:
How can I sign up my child for a Trump account?
You can sign your child up for a Trump account by completing IRS Form 4547 and submitting it by hard copy, electronic filing or through the trumpaccounts.gov website. You can also use Form 4547 to sign up for the $1,000 contribution from the federal government for children born between 2025 and 2028.
There is no cost to open an account. Trump accounts must be invested by the custodian in a diversified index fund of U.S. stocks and must minimize fees and expenses.
I’ve signed my child up for a Trump account. What’s next?
Look for an email confirming that your election to open your child’s Trump account was processed and prompting you to complete the account activation.
Follow the instructions in the email to set up your child’s Trump account through the Trump accounts app (available in the Apple App Store and Google Play) or by visiting Trumpaccounts.gov. If you do not have access to a mobile device, you can access the web version of the official Trump Accounts app through https://trumpaccount.com/
How will the government update me on what is going on with my child’s Trump account?
As Trump account activation begins, concerns about potential scams are growing. Families should know that the initial legitimate communications about Trump Account activation will be sent only by email from [email protected].
Future communications will be available in the Trump accounts app. When in doubt, visit the official app. There will be no text messages or phone calls about Trump account activation. If you receive a call or text about a Trump account, do not respond. It is likely a scam.
When will my child receive the $1,000 contribution from the government?
Starting July 4, 2026, eligible children will begin receiving the $1,000 pilot program contribution from the U.S. Department of the Treasury deposited directly into their Trump account.
When can I contribute to my child’s Trump account?
Beginning July 4, 2026, Trump accounts will be able to accept contributions from parents, family members, employers, and other eligible contributors.
If you have technical questions you would like to have answered, be sure to submit them to [email protected], to be answered on an upcoming Slott Report Mailbag, published every Thursday.
https://irahelp.com/trump-accounts-are-almost-here-what-parents-need-to-know/