SAN ANTONIO – The federal government is putting $1,000 into investment accounts for 1.4 million American children — and it starts this Saturday.
Officially called “530A Accounts” and widely known as “Trump Accounts,” the program launches July 4 under the One Big Beautiful Bill Act, signed in 2025. Think of it like a piggy bank started by the government that grows alongside your child.
Who gets the $1,000?
The free federal deposit goes to children who meet all of the following:
- Born between Jan. 1, 2025, and Dec. 31, 2028
- U.S. citizen with a Social Security number
- Listed on a parent or guardian’s tax return
More than 6 million accounts have already been requested ahead of the official launch, according to Luke Pettit, assistant secretary for Financial Institutions at the U.S. Department of the Treasury.
“As of today, more than 6 million accounts have been requested prior to the official launch of the program this month,” Pettit said Thursday. “1.4 million of these accounts will be eligible for the initial $1,000 seed contribution from Treasury.”
What if my child was born before 2025?
Parents can still open a 530A Account for children born before 2025 — but those kids won’t receive the $1,000 federal deposit. However, some may qualify for philanthropic contributions instead.
The Michael and Susan Dell Foundation has committed $6.25 billion to deposit an extra $250 into accounts for children aged 10 and under who were born before Jan. 1, 2025, and live in ZIP codes with median incomes below $150,000. That deposit is specifically for children who do not qualify for the federal $1,000.
Other organizations are also signing on. Dalio Philanthropies, for example, has pledged $250 deposits for eligible children in Connecticut. Criteria, amounts, and timing vary by program — so it’s worth checking whether your family qualifies for additional deposits at TrumpAccounts.gov.
How the money grows
Once funded, the money is automatically invested in broad U.S. stock market index funds — similar to the S&P 500 — and grows tax-deferred. Family members, friends, and employers can contribute up to a combined $5,000 per year, per child.
At age 18, the account converts to a traditional IRA. Funds can then be used for:
- College or higher education
- Buying a first home
- Other qualified expenses under traditional IRA rules
What parents should keep in mind
The money is completely locked until the child turns 18, with no exceptions for emergencies. And because the account is invested entirely in stocks, the value can rise — but it can also fall. If the market drops close to a child’s 18th birthday, the account could be worth less than expected.
How to sign up
You have three options:
- Online: TrumpAccounts.gov
- Mobile: Download the Trump Accounts app
- Tax return: File IRS Form 4547 alongside your 2025 tax return
You’ll need your child’s Social Security number, date of birth, and address to complete the application.