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How Trump Accounts Work: Step by Step

Last verified: September 3, 20263 cited sources

Here is the full lifecycle of a Trump Account, from opening it to using the money years later.

  1. Confirm eligibility. Check the child is under 18 with a valid Social Security number, and note separately whether they qualify for the $1,000.
  2. Make the election. A parent or guardian files IRS Form 4547, on paper or through the official online form. Filing is free.
  3. Account activation. Treasury processes the election and opens the account; eligible children receive the one-time $1,000.
  4. Contributions. Family, friends, the child, and employers can add money up to the $5,000 annual limit.
  5. Investing. The balance is invested in low-cost U.S. equity index funds and grows tax-deferred.
  6. Access as an adult. Money generally cannot be withdrawn before January 1 of the year the child turns 18; then traditional-IRA rules apply.

Contributions could not be made before July 4, 2026, when the program launched. For the exact current process, use the official sources below.

Rules can change. Before you act, confirm the current details with official sources such as the IRS and the U.S. Department of the Treasury, and the official program site at trumpaccounts.gov.