Interested in the Trump account? Follow the guide to know how you can open one. Read on for the steps that can help you know all about it, as well as the important information to give you a headstart. So, let’s begin.
What is a Trump account?
In 2026, a “Trump Account” is a new type of tax-advantaged investment account for children, which was created by the “One Big Beautiful Bill Act.” This was made with the intention of benefiting the entire family, but by benefiting their children. It is much like a hybrid between a traditional IRA and a 529 plan. Every American child born between 2025 and 2028 is eligible for a $1,000 government seed in one of these accounts, and it can be utilized later on. They are designed for long-term growth, and the funds are invested in index funds. It means that generally, they cannot be touched until the child turns 18. It’s a signature policy aimed at providing a good amount of money for the support of American children and their dreams in the future.
Steps to open a Trump account
If you want to open a Trump account for a younger one in your family, these are the steps that you may need to follow.
Confirm Eligibility
You have to primarily make sure that the child is a U.S. citizen under age 18 with a valid Social Security number. To get the $1,000 government seed money, the child must be born between January 1, 2025, and December 31, 2028. If your children were born between these years and dates, they are eligible.
File IRS Form 4547
This is the go-to way to open the account. You can easily submit this form when filing your 2025 tax return. It registers the child and requests the seed money to help them build an investment base for the coming years.
Use the Online Portal
Another thing to remember, especially if you like to do things online, is that we’ll likely have a dedicated portal at trumpaccounts.gov that is expected to launch by summer 2026 for direct enrollment. This will further simplify the process.
Will Get to Select a Custodian
In May 2026, parents who signed up will receive instructions to choose a private financial institution to manage the funds.
Wait for July
The $1,000 federal deposit and your own private contributions, which can be up to $5,000/year, can begin starting from July 5, 2026.
And this is how you can open a Trump account for your child. Even if you have more than one eligible child, you can do the same.
