Parents Can Claim $1,000 Trump Accounts for Babies Born 2025-2028 as App Rolls Out in Waves
Updated
Updated · Business Insider · May 29
Parents Can Claim $1,000 Trump Accounts for Babies Born 2025-2028 as App Rolls Out in Waves
5 articles · Updated · Business Insider · May 29
$1,000 government-funded Trump Accounts are now open for eligible children, with one parent in the report submitting an application through the new app and IRS portal for a daughter born in January.
May 28 marked the app's App Store debut, but enrollment still routes users through ID.me identity checks and an IRS portal before they can opt into the pilot contribution.
Children born from 2025 through 2028 qualify, and families, employers or philanthropies can add money, though the funds stay locked until age 18 and belong to the child.
Financial advisers cited in the report said most eligible families should take the free $1,000, but prioritize debt repayment, emergency savings and retirement before making extra contributions.
The program is pitched as a long-term asset-building tool rather than near-term relief, a key trade-off for parents facing costs such as hospital bills and high daycare expenses.
Will Trump Account sign-up hurdles leave the most vulnerable families behind?
How will a child's Trump Account impact their future college financial aid?