Trump administration launches “Trump Accounts” for eligible newborns, seeding $1,000 investment accounts

The Trump administration on Saturday began rolling out a federal newborn savings program, called “Trump Accounts,” which is designed to give eligible children tax-advantaged investment accounts that start at birth. The accounts are available to people who have a Social Security number and are under 18, and the administration said qualifying children born between Jan. 1, 2025, and Dec. 31, 2028 will receive an initial one-time $1,000 deposit if enrolled in the program, according to The Hill.

According to reporting that cited the Treasury Department, more than six million “Trump Accounts” have been opened to date, and about 1.4 million of those will receive the seed contribution for babies born during President Donald Trump’s second term. The same reporting said roughly 86 percent of opened accounts belong to families earning less than $200,000 per year.

The accounts are structured to function similarly to traditional IRAs, with money generally locked to the child and controlled by parents or legal guardians until the child reaches adulthood. The program’s funds are generally not accessible without penalty until after the beneficiary turns 18, though The Hill reported that withdrawals for certain purposes may be allowed, including education, starting a business, or making a down payment on a first home.

On investment mechanics, The Hill reported that the default investment for “Trump Accounts” is an exchange-traded fund tracking the performance of the S&P 500. The administration has also framed the program as a way to expand stock ownership and build long-term wealth, while the money remains owned by the child under the program’s account rules.

Implementation details are still rolling out. Americans for Tax Reform’s tracker, which lists corporate and state participation announcements, said the official Trump Accounts website is and that the accounts “go live” on July 5, 2026. The Hill’s account, describing Saturday’s launch of the program, indicated that eligibility enrollment is already underway for the first set of qualifying newborns.

The program is tied to the tax legislation that created the underlying vehicle for the accounts, commonly described in external summaries as the “One Big Beautiful Bill Act” or the “Working Families Tax Cut.” Americans for Tax Reform also reported that Sen. Ted Cruz led the effort in Congress, citing the legislation’s origin and the planned start date for account activation.

While “Trump Accounts” resemble other custodial retirement-style vehicles in some respects, they are marketed as a new federal mechanism beginning at birth, rather than conventional child savings plans opened later. The near-term practical effect for families is centered on whether the child is enrolled within the eligibility window and whether the $1,000 seed contribution is applied, as well as whether future contributions or investments are made under the account’s tax and withdrawal conditions, which The Hill said track IRA-like rules.