(The Center Square) – The U.S. Department of the Treasury announced the launch of the Trump Accounts app Thursday, kicking off the registration process for citizens and permanent residents to enroll their children in the tax-advantaged investment accounts.
Trump Accounts will function similarly to individual retirement accounts, where no taxes are owed while the money remains in the account. After a child turns 18, his or her Trump Account generally operates under the same rules as a traditional IRA.
“I would encourage all parents to ensure their child has a Trump Account and is set on the path to financial success,” Treasury Secretary Scott Bessent said Thursday. “This launch marks an important milestone toward expanding financial access and delivering parallel prosperity for Main Street, Wall Street, and all Americans.”
The Trump Accounts app can be found in Apple and Google app stores. Americans can also sign up via their IRS accounts with ID.me and submit Form 4547 to begin the process.
Once Trump Accounts officially launch on July 4, U.S. citizen children born between Jan. 1, 2025, and Dec. 31, 2028 will receive a one-time $1,000 contribution from the Treasury deposited directly into their Trump Account as a pilot program contribution.
Additionally, children aged 10 and younger with valid social security numbers who do not qualify for the $1,000 deposit, and also live within a zip code where the median annual household income is less than $150,000, qualify for a $250 initial boost. Those start-up funds were provided by a $6.25 billion donation from billionaires Michael and Susan Dell.
The annual contribution cap is $5,000 for adult contributors and $2,500 from employers (employer contributions will not be considered taxable income), indexed to inflation starting in 2027. State governments can also contribute to the accounts.
The Treasury says the account funds – which private banks and brokerages will manage – will be invested in “certain mutual funds or exchange-traded funds that track the S&P 500 or another index of primarily American equities.”
Republicans in Congress authorized the creation of Trump Accounts within their “One Big Beautiful Bill.” The massive policy package – which became law on July 4, 2025 – focused largely on the president’s tax, energy and entitlement reform agenda.
Besides establishing the Trump Accounts, the budget reconciliation bill made the bulk of 2017 tax cuts permanent. It also allows employees to deduct tips and overtime income from their annual taxes and seniors to deduct social security income, though these provisions expire in three years.
Republican lawmakers celebrated the app’s launch on social media.
“Trump Accounts offer a historic chance to reshape the future for the next generation,” the House Financial Services Committee posted on X. “By transforming how Americans save and invest today, we can build long-term financial security for tomorrow.”
