The federal program allows opening investment accounts for under 18s with a valid Social Security number. The initial $1,000 deposit only applies to citizen children born between January 1, 2025 and December 31, 2028.
Families in Houston and Texas can already check whether their children qualify for a Trump Account, a new federal savings and investment program for minors. The account can be opened for eligible children under 18, but the Treasury Department’s $1,000 pilot deposit has additional requirements.
The process is carried out through Internal Revenue Service (IRS) Form 4547. To begin the online process, the authorized person needs an ID.me account, the minor’s Social Security number, their date of birth, and their address.
Who can have a Trump Account
A Trump Account can be established for a minor who has not turned 18 by the end of the calendar year in which the election is filed and who has a valid Social Security number. In 2026, this applies to children born after December 31, 2008, provided that no prior election has been filed for that child.
The account is in the name of the minor. As long as the child remains a minor, the authorized person who makes the election remains responsible for the account and may manage certain decisions permitted by the program’s rules.
The IRS states that the account is requested with Form 4547. That same form is also used to request the $1,000 pilot contribution when the child meets the program’s additional requirements.
Which children receive the $1,000 federal deposit
The $1,000 federal deposit does not apply to all minors under 18. To receive that pilot contribution, the child must have been born after December 31, 2024 and before January 1, 2029, be a United States citizen, and have a valid Social Security number.
In practical terms, the range corresponds to citizen children born between January 1, 2025 and December 31, 2028. The IRS also requires that there be no prior pilot contribution processed for the same minor.
The Treasury began allowing contributions to Trump Accounts on July 4, 2026. From that same date, eligible children began receiving the $1,000 pilot contribution deposited directly into their accounts.
What happens with older children or those born outside the period
Minors who were not born between 2025 and 2028 can have a Trump Account if they meet the general eligibility rules, such as being under 18 at the end of the election year and having a valid Social Security number. That group does not qualify for the federal $1,000 pilot deposit.
The IRS clarifies that, even if a child is not eligible for the pilot contribution, the election to open an initial account can be made with Form 4547 or, when available, through the online process. In those cases, the pilot deposit option is not selected.
The Treasury Department also stated that employers, charities, and governments can make contributions to Trump Accounts, even for children who do not receive the $1,000 from Treasury, as long as the child has an open account.
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How much money can the account receive each year
During the account’s growth period, different types of contributions may come in. Among them are the Treasury’s pilot contribution, contributions from qualifying governments or organizations, employer contributions, allowable transfers, and contributions from other sources, such as family members.
Contributions cannot have been made before July 4, 2026. The general annual limit for other contributions during the growth period is $5,000, subject to cost-of-living adjustments after 2027.
Employer contributions under the applicable section have a limit of $2,500 during the growth period. These contributions, along with other contributions subject to the annual limit, form part of the overall maximum of $5,000.
When the Trump Accounts money can be used by the minor
During the growth period, the Trump Account imposes withdrawal restrictions. Distributions allowed before reaching the age of majority are limited to specific cases, such as qualified transfers to another Trump Account, certain transfers to an ABLE account at age 17, distributions due to excess contributions, or the beneficiary’s death.
After the growth period, starting January 1 of the year in which the minor turns 18, the account is generally subject to the rules of a traditional IRA. Some distributions could be subject to an additional 10% early withdrawal penalty, unless an exception applies, such as higher education expenses or a first-time home purchase.
This means that the $1,000 deposit does not function as immediate help for household expenses, food, rent, child care, or school supplies. The money is deposited into an investment account in the minor’s name and is designed for future use.
Where the process is done and what information is needed
The IRS allows starting the process from an IRS online account with ID.me. The election is completed via Form 4547, and the applicant can check the status of the submitted forms. The online process takes 5 to 10 minutes, according to the IRS.
To complete the process, an ID.me account, the minor’s Social Security number, their date of birth, and their address are required. The IRS also notes that the Social Security number must have been issued before filing the election.
Families can also review TrumpAccounts.gov, where the Treasury Department concentrates information on eligibility, account activation, official application, and authorized links.
Official channels and alert against Trump Accounts scams
The Treasury Department reported that initial activation emails will only come from [email protected]. Future communications will be available in the official Trump Accounts app or from addresses ending in @trumpaccount.com.
The Treasury also noted that its authorized providers will never ask for passwords, one-time verification codes, or sensitive credentials by email, text, or phone call. The program’s official support line is 1-866-USA-4547.
Families that have not yet opened an account can file Form 4547 during the year before the minor turns 18. The Treasury stated that there is no cost to open the account.
