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A year after Congress approved the legislation creating them, the Trump Accounts investment program officially became operational on Independence Day, opening a new government-backed savings vehicle intended to help children build long-term wealth through stock market investments.
President Donald Trump marked the launch Monday by remotely ringing the opening bells of both the New York Stock Exchange and Nasdaq from the Oval Office, calling the program “absolutely incredible for children.”
The accounts, created under Republicans’ 2025 tax and spending law, join existing tax-advantaged savings options such as 529 education plans and custodial retirement accounts. Administration officials say the program is designed to encourage investing from birth while providing eligible newborns with a government-funded starting balance.
According to the Treasury Department, more than 6 million Trump Accounts have been opened for children under age 18 since the program launched Saturday. Of those, about 1.4 million children qualify for the program’s $1,000 federal pilot contribution.
Despite the early participation, the total remains only a fraction of the tens of millions of children nationwide who may ultimately be eligible.
Administration promotes long-term investing
Treasury Secretary Scott Bessent said the accounts could become one of the administration’s lasting economic initiatives.
“This will be one of the president’s most enduring legacies, and the great bounty of this will go for generations to come,” Bessent said during Monday’s White House event.
Trump was joined by Bessent, executives from Nasdaq and the New York Stock Exchange, Sen. Ted Cruz, who helped champion the legislation, and several private-sector supporters of the initiative.
Michael and Susan Dell, who announced a $6.25 billion commitment to support the program, also participated in the ceremony, along with Altimeter Capital CEO Brad Gerstner, an advocate for creating the accounts.
Investment options and contributions
The accounts are limited to investments in low-cost mutual funds or exchange-traded funds that track the S&P 500 or similar indexes focused primarily on U.S. companies.
Annual management fees are capped at 0.1% of assets, meaning investors would pay no more than $1 annually for every $1,000 invested.
The Treasury Department designated the State Street SPDR Portfolio S&P 500 ETF as the default investment option for new accounts. Officials said parents and guardians will eventually be able to choose from four additional exchange-traded funds in the coming months.
Treasury also announced it will accept donations of publicly traded stock from philanthropic organizations and individuals. SpaceX President Gwynne Shotwell said Monday she plans to donate SpaceX shares to more than 2 million Trump Accounts.
Families can monitor account balances and investment performance through an application developed by Robinhood and the Bank of New York, which Treasury selected to help administer the program’s initial rollout.
Eligibility and enrollment
Parents, legal guardians and other authorized adults may open an account by submitting IRS Form 4547.
To qualify for the federal $1,000 pilot contribution, a child must be a U.S. citizen with a valid Social Security number and have been born between Jan. 1, 2025, and Dec. 31, 2028.
Administration officials say the program is intended to increase long-term household participation in financial markets while giving children a financial foundation that can grow over time through investment returns.
