Overview
- With the 2026 filing season underway, parents and guardians can use IRS Form 4547 to open accounts and request the one-time $1,000 Treasury deposit for children born from 2025 through 2028.
- After elections are filed, Treasury will begin an authentication process in May, with initial deposits and other contributions planned to start after July 4, 2026, and an online portal expected by mid-2026.
- Large employers and financial firms including SoFi, Charter Communications, BNY, BlackRock, Investment Company Institute, Robinhood and Charles Schwab have announced matching contributions for employees’ children, and employer deposits up to $2,500 a year are not taxable to workers.
- Families and others may contribute up to $5,000 per child annually, no withdrawals are permitted before age 18, and accounts can be structured to convert to a traditional IRA at adulthood.
- Private philanthropy is supplementing the program, led by Michael and Susan Dell’s $6.25 billion pledge enabling many ineligible children to receive $250 grants, with additional state-targeted donations such as an initiative in Connecticut from Ray and Barbara Dalio.