The 5 steps
1. Confirm your child is eligible
Any child under 18 with a Social Security number can have a Trump Account. The one-time $1,000 federal contribution is narrower: the child must be a U.S. citizen born January 1, 2025 through December 31, 2028. Not sure? Run the 30-second eligibility checker.
2. Watch for the IRS email (before July 4, 2026)
Parents and guardians are notified by email ahead of the July 4, 2026 launch with instructions to complete setup. Contributions cannot be made before that date.
3. Make the election (IRS Form 4547)
Opening a Trump Account means filing Form 4547 to designate the account. You can do this through the official online portal at trumpaccounts.gov/form, or via a participating provider. Who may open it, in priority order: legal guardian, then parent, then an adult sibling, then a grandparent. Each child may have only one Trump Account.
4. Choose where it's held and how it's invested
The account is opened at a participating bank, broker, or provider. By law the money must be invested in low-cost mutual funds or ETFs tracking the S&P 500 or another index of primarily U.S. equities — no individual stocks, bonds, or target-date funds.
5. Contribute (starting July 4, 2026)
Families and friends can add up to $5,000 per year in total (indexed to inflation after 2027). An employer can contribute up to $2,500 of that, tax-free to you — see the employer benefit page. The $1,000 federal seed is deposited automatically for eligible children once the election is made.
Before you open one: see what it could grow to
The $1,000 seed on its own grows to only about $3,400 by age 18 (at a 7% return) — the contributions you add are what move the needle. Model your own numbers first:
And if you're weighing this against a 529 plan or a custodial Roth IRA, the side-by-side comparison runs the after-tax math for college and for retirement.
Quick answers
Do I have to open one to get the $1,000?
Yes — the money isn't automatic. A parent or guardian must make the election (Form 4547) for the eligible child.
Is there a deadline?
The $1,000 pilot covers births through December 31, 2028. You can make the election at any time once the system is live; do it before contributing.
What does it cost to open?
There's no cost to make the election and claim the federal seed. Providers may have their own account terms — compare before choosing.
Can grandparents open it?
They can, but only if a legal guardian or parent doesn't — the law sets a priority order. Anyone can still contribute within the $5,000 annual cap once it's open.