How to open a $1,000 Trump Account for your child
Learn how to open a Trump Account for your child so that he or she receives the $1,000 from the government and what the requirements are to register step by step
Trump Accounts are now available in the United States and thousands of families have begun signing up since the program went into effect on July 4, 2026. If you have a child under 18, you can now open one of these federally backed savings and investment accounts. In some cases, it is also possible to receive an initial deposit of $1,000. Here we explain how to register your child and what the requirements are.
What are Trump Accounts?
530A accounts, popularly known as Trump Accounts, are a program created to help minors begin to build wealth from an early age. They are designed to receive contributions from parents, family members, employers and other authorized entities, with the aim that the money remains invested and can be used later for goals such as studying, buying a first home or starting a business, in accordance with the rules established by law.
Who can open a Trump Account?
Anyone under 18 years of age can have a Trump Account, as long as they have a valid Social Security number (SSN) and do not have another account registered in their name. Because they are minors, these accounts must be opened by a parent or guardian.
However, when we talk about the federal initial deposit of $1,000, it is only available for children born between January 1, 2025 and December 31, 2028 who are US citizens and have a valid SSN.
How to open a Trump Account step by step
Step 1. Verify that your child meets the requirements
Before starting the process, confirm that your child has a valid Social Security number. If you also want him to receive the initial deposit of $1,000, verify that he meets the birth and citizenship requirements established by the Internal Revenue Service (IRS).
Remember: even if your child does not qualify for the government payment, you can open a Trump account for them as long as they meet the requirements and are a minor. In fact, a donation from the DELL family could allow them to access a $250 deposit, as long as you activate their account on time and your child is under 10 years old.
Step 2. Fill out Form 4547
The IRS created Form 4547 to request the opening of a Trump Account. In it you must provide the information of the minor and the person authorized to carry out the procedure. If your child qualifies to receive the federal deposit, that same application allows you to request the pilot program contribution.
Step 3. Submit the request and wait for activation
You can file Form 4547 along with your tax return or complete the process through the official trumpaccounts.gov program portal.
After receiving the application, the IRS will review the information and the Treasury Department will verify the data to create the account. Subsequently, the financial institution in charge will contact you to complete the activation.
When does $1,000 arrive?
The IRS explains that the pilot program deposit is not made immediately. First it must be verified that the account was opened correctly and that the minor meets all the requirements.
Federal contributions began to be made as of July 4, 2026, so eligible families will receive the money as soon as the authentication process is completed.
What changes for parents of newborns?
The Social Security Administration (SSA) reported that parents will receive information to facilitate the opening of a Trump Account when they process their baby's Social Security number through the Enumeration at Birth (EAB) program.
Additionally, the agency will incorporate information about the program on Social Security cards and other materials aimed at families.
“Trump Accounts represent one of the most important investments in the next generation of Americans in our nation's history, providing America's children with a strong financial foundation for the future,” said Social Security Administration (SSA) Commissioner Frank J. Bisignano. “Social Security numbers are the foundation of Trump Accounts, and we will empower parents to enroll their newborns through the Enumeration at Birth program, so they can take full advantage of this program from the day they are born.”
Who will manage the Trump Accounts?
The Treasury Department reported that BNY Mellon will be the financial agent of the program and will work together with Robinhood to develop the platform through which families will be able to manage the accounts.
As long as the beneficiary is a minor, a responsible adult will be the one who manages the account.
Child holders will be able to access their money from the age of 18 to use it in situations approved by the government, such as paying for university, buying a house or using that money to start a business.
If the money is not used, the Trump account will follow the established rules of a traditional individual retirement account (IRA).
Who can make contributions?
Once the Trump Account is opened, parents, family members, employers, state governments and authorized organizations will be able to make contributions. In fact, various companies and philanthropic organizations have announced programs to supplement the savings of some eligible minors.
Contributions subject to the annual limit may reach up to $5,000, not counting the initial government deposit. Employer contributions are part of this limit, with a maximum contribution of up to $2,500 dollars per year.