The $1,000 Trump Account Is Coming Here’s How It Works and When You’ll Get It

 

If “Trump Accounts” weren’t on your radar before, they probably are now. After a high-profile Super Bowl ad and a wave of buzz from Wall Street to Silicon Valley, this new federal savings program for kids has quickly become one of the most talked-about financial initiatives in years.

So what exactly is a Trump Account? When does the $1,000 show up? And how do you open one?

Here’s a simple, no-jargon guide to help you understand what’s coming.

What Is a Trump Account?

Think of it as a starter retirement account for kids.

The federal government will deposit $1,000 into a savings account for eligible children. The account functions similarly to an Individual Retirement Account (IRA), but with special rules designed for minors.

The goal? Give children a financial head start and encourage long-term investing — with a strong emphasis on investing in American companies.

When Do Trump Accounts Become Available?

Mark your calendar: July 5, 2026.

That’s when accounts officially launch and contributions can begin. You can’t deposit money before that date.

However, families are encouraged to file the required paperwork early so everything is ready when the program goes live.

How Do You Open a Trump Account?

Parents or legal guardians have two main options:

1. File IRS Form 4547 Online

The easiest route is submitting the form at trumpaccounts.gov. You’ll need:

• The child’s date of birth

• Social Security number

• Basic contact information

2. File With Your 2025 Tax Return

You can also submit Form 4547 when filing your 2025 federal taxes.

After you file, the IRS will create the account. Starting in May 2026, families will be contacted by the partner financial firm that will hold and manage the account. (The identity of that firm hasn’t been announced yet.)

Financial experts suggest filing sooner rather than later so the account is ready for the July rollout.

When Does the $1,000 Arrive?

The government’s $1,000 “seed” contribution will be deposited sometime after July 4, 2026, once the account is verified and authenticated.

Treasury guidance says the funds will land “as soon as practicable” after setup is complete.

Who Qualifies?

Eligibility is fairly broad:

• All U.S. citizens born between 2025 and 2028

• Must have a Social Security number

There’s more good news:
Children born before 2025 who are still under 18 can also open a Trump Account — but they won’t receive the $1,000 government seed money.

Only one account per child is allowed.

Who Owns the Account?

The child owns the account.

However, an adult (typically a parent or guardian) manages it until the child turns 18.

When Can the Money Be Withdrawn?

This is where things get a bit complicated.

Current IRS guidance says withdrawals may begin on January 1 of the year the child turns 18, though this rule may be adjusted to allow withdrawals only after the 18th birthday.

After that point, Trump Accounts operate much like traditional IRAs:

• Withdrawals before age 59½ typically come with penalties

• Exceptions may apply for first-time home purchases, higher education expenses, and medical costs

• After 59½, withdrawals are generally penalty-free

In other words, this is designed to be long-term money — not a piggy bank for teenage spending.