Trump Administration Explores Auto-Enrolling 73 Million Children in Trump Accounts
Updated
Updated · Newsweek · Jul 15
Trump Administration Explores Auto-Enrolling 73 Million Children in Trump Accounts
3 articles · Updated · Newsweek · Jul 15
Summary
Treasury officials are weighing a shift from the current opt-in system to automatically create Trump Accounts for roughly 73 million Americans under 18, aiming to sign up every eligible child.
The accounts launched July 4, allow up to $5,000 in annual contributions, and give children born from 2025 through 2028 a one-time $1,000 federal seed deposit.
Parents now must open the accounts through IRS Form 4547, so universal enrollment would likely require new Treasury and IRS action, broader data-sharing with Social Security, and possibly changes to the underlying law.
Early uptake has been strong, with 6.5 million accounts opened in the first five days, while the administration has added newborn sign-ups through Social Security and a foster-care initiative backed by 25 governors.
A nationwide auto-enrollment push would broaden the program's reach but is likely to draw scrutiny over cost, privacy, administrative complexity and whether the tax-advantaged structure mainly helps families able to keep contributing.