Overview
- Fox Corporation and News Corporation will match the U.S. government's one-time $1,000 contribution for eligible U.S. employees who opt into the Trump Accounts program.
- The federal pilot provides a $1,000 Treasury deposit for each child born in the U.S. from Jan. 1, 2025, through Dec. 31, 2028, with the program scheduled to launch on July 4.
- Families must opt in to receive the deposit by checking a box on IRS Form 4547, according to program guidance reported by TheWrap.
- While the seed deposit is limited to newborns in the pilot window, any American under 18 can open an account, with total yearly contributions from family, employers, and others capped at $5,000 and funds accessible at 18 for retirement, education, or a first home.
- Other employers offering matches include Comcast, Charles Schwab, Charter Communications, Broadcom, BNY Mellon, Uber, Intel, IBM, JPMorgan, Chipotle, Coinbase, State Street, Mastercard, Visa, Block, Robinhood, SoFi, Chime, Russell Investments, and Dell Technologies, and Treasury reports about 500,000 elections to open accounts.