A Trump Account is a long-term investment savings account for children. Parents or legal guardians can open it for free through the IRS website.
Who Is Eligible for the $1,000 Government Contribution
A one-time government contribution of $1,000 is available for a child who:
- was born between January 1, 2025, and December 31, 2028;
- is a U.S. citizen;
- has a valid Social Security Number (SSN);
- has not previously received this contribution.
Trump Accounts can also be opened for children born before 2025 as long as they are under 18 and have an SSN, though the $1,000 government contribution will not apply to them.
How to Open a Trump Account
- Go to the official IRS Trump Accounts page.
- Log into your IRS Online Account via ID.me.
- Complete Form 4547 – Trump Account Election(s).
- Provide the child’s SSN, date of birth, and home address.
- Confirm the account opening and participation in the government contribution program if the child meets the requirements.
- After submitting the form, check the status of your application in your IRS Account.
The process usually takes about 5-10 minutes, and opening an account is free.
Contribution Limits
Parents, relatives, employers, and other individuals can contribute a combined total of up to $5,000 per year to the account. The child is not required to have earned income for these contributions.
Funds are invested in approved, low-cost index funds and are intended for long-term growth.
When Funds Can Be Used
Generally, funds cannot be withdrawn until the year the child turns 18. After that, IRA rules apply to the account. Early withdrawals may trigger income tax and an additional 10% penalty unless a statutory exception applies, such as paying for qualified education expenses or purchasing a first home.
Important: Only open a Trump Account through IRS.gov or TrumpAccounts.gov. Government agencies will never ask for passwords or one-time verification codes over the phone, via email, or in text messages.
Information is current as of November 2026 and is for general informational purposes only.
