WASHINGTON — The federal government announced it has automatically enrolled all Americans under 18 in the Trump Accounts program.
President Donald Trump and members of his administration said the automatic enrollment would make it easier for families to take part in the program, The Associated Press reported.
The Treasury Department said it would open the investment accounts for all children with a valid Social Security Number and that parents or guardians can claim the accounts through the program’s app.
Eight million accounts had already been created before automatic enrollment, and the president said that 70 million accounts are being added. Trump claimed that $4.5 billion has been deposited since July, when the program started, Bloomberg reported.
The New York Times explained the accounts are a 530A account and are a starter individual retirement account where parents, guardians, relatives, employers, philanthropists, governments, and charities can also make deposits.
“Funds will be invested in a diversified investment vehicle designed to maximize long-term growth while minimizing risk. Additional investment options will be added,” the website states.
“On October 1, 2026, the U.S. Treasury completed automatic enrollment for eligible children who do not already have an active Trump Account. Automatic enrollment allows eligible children to begin receiving qualifying philanthropic contributions without first requiring a parent or guardian to open an account,” the program’s website said.
Every child born during Trump’s second term will receive $1,000 deposited into the account, which is in the child’s name. According to the program’s website, parents are the custodians of the accounts until the child turns 18. Up to $5,000 a year can be added to the accounts on behalf of the child, but that is not required.
To claim the account, you must download the app, then verify your identity, confirm your relationship with the child, review the child’s information and accept the terms of the account. If your child is eligible, you can also claim the $1,000 seed money from the Treasury Department.
For more information, click here or call 866-USA-4547
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