Treasury Launches Trump Accounts App for 6 Million Families Ahead of $1,000 Deposits
Updated
Updated · abcnews.com · May 27
Treasury Launches Trump Accounts App for 6 Million Families Ahead of $1,000 Deposits
11 articles · Updated · abcnews.com · May 27
Thursday’s app launch will let nearly 6 million signed-up families manage Trump Accounts before the tax-advantaged program officially goes live on July 4.
Robinhood and BNY Mellon built the app, which will allow parents to schedule contributions and includes eight exclusive financial-literacy modules.
Each eligible U.S. citizen born from Jan. 1, 2025, through Dec. 31, 2028, will receive a $1,000 federal contribution starting July 4.
Families, employers and relatives can add up to $5,000 a year, but the money must remain in a broad-based index fund and generally cannot be withdrawn until age 18.
The accounts were created under President Donald Trump’s tax-and-spending law to start stock-market investing at birth, with Treasury saying transfers to other banks will eventually be allowed.
What hidden tax complications await families using the new "Trump Accounts" in states like California?
Could these new government-seeded investment accounts actually make college less affordable for middle-class families?
Will a $1,000 government gift create a new generation of investors or just replace family savings?
Trump Accounts Launching July 2026: $1,000 Starter, $5,000 Annual Deposits, and Financial Education for U.S. Children
Overview
The Trump Accounts program is set to launch with strong momentum, aiming to give young Americans a solid financial start. Beginning with a $1,000 government deposit and $5,000 annual contributions from birth, the program combines long-term savings with essential financial education. If these contributions continue, a child’s account could grow to about $191,000 by age 18. Enrollment opens on July 4, 2026, and the program’s structure is designed to build wealth over time while teaching financial skills, helping families prepare for the future with both savings and knowledge.