A Trump Account under IRC section 530A is a new tax-favored account for children. Contributions cannot be made before July 4, 2026. Some children qualify for free seed money from the federal government or from the Dell Foundation.
Does My Child Qualify?
Any child under 18 with a Social Security number can have a Trump Account. Two separate programs also offer free contributions:
Federal $1,000 – U.S. Treasury (one-time)
- U.S. citizen
- Valid Social Security number
- Born January 1, 2025 – December 31, 2028
- Family files the required IRS election (Form 4547)
Dell Foundation $250 – for older children who miss the federal window
- Age 10 or younger (born before 2025)
- Lives in a ZIP code where the area median household income is below $150,000
Check Dell Foundation eligibility here: investamerica.org/dell
Note: The Dell Foundation program is private philanthropy, not a federal benefit. Funding is limited and given to younger children first if demand is high.
How to Open an Account (Step-by-Step)
Step 1: Go to InvestAmerica.org
The primary hub for this is investamerica.org. You can open the account and request the $1,000 federal contribution (if eligible) all in one place.
Step 2: Sign in with ID.me
The IRS requires identity verification through ID.me. You’ll need:
- Your own ID.me account (or create one at no cost)
- Your child’s Social Security number
- Your child’s date of birth and address
Step 3: Complete IRS Form 4547
This is the official election form. Use it to:
- Open the Trump Account
- Request the $1,000 federal contribution (if your child was born 2025–2028)
The form can be submitted online through the portal. Do not attach it to an amended return (Form 1040-X).
Step 4: Wait for Treasury Confirmation
After your election is accepted, Treasury will send instructions to activate the account. The $1,000 (if eligible) will be deposited after July 4, 2026.
Step 5: Start Contributing
Once the account is active, anyone can contribute. Parents, grandparents, other family, and friends can add up to $5,000 per year combined. Employers can also contribute up to $2,500 per year, which counts toward that same $5,000 limit. Donors and state or local governments can contribute as well and are treated as additional support which do not count against the annual cap.
Important: Contributions must be made within the calendar year. Unlike IRAs, there is no April 15 extension.
What Exactly Is a Trump Account?
Think of it as a traditional IRA for children with special rules during the “growth period” (before the child turns 18):
- Investments are limited to qualifying U.S. index funds/ETFs
- Withdrawals are generally restricted until adulthood
- Contributions are not tax-deductible
- After age 18, standard traditional IRA rules apply (taxes on withdrawals, required distributions, etc.)
Trump Account vs. 529 Plan
If your primary goal is college savings, a 529 plan may still be better (qualified education withdrawals are tax-free, and many states offer deductions). Trump Accounts are more suited for long-term wealth building. They can complement a 529, but shouldn’t automatically replace it.
Quick Summary
Child born 2025 – 2028?
Go to investamerica.org, complete Form 4547, claim the $1,000.
Child 10 or younger, born before 2025?
Open the account at investamerica.org and check Dell Foundation eligibility at investamerica.org/dell.
Child older than 10?
They can still have a Trump Account but won’t receive the $1,000 or the Dell $250. Families and others can still contribute up to $5,000/year.
Questions? We Can Help.
Trump Accounts are brand new, and IRS guidance is still evolving. If you’d like help determining whether your family qualifies, how a Trump Account fits alongside your 529 or estate plan, or what contribution strategy makes sense, please contact our office.
This communication is for educational purposes only and is not tax, legal, or financial advice. Information believed accurate as of June 2026 and subject to change.