Overview
- The Trump Accounts mobile app went live Thursday on Apple and Google app stores and includes eight in-app financial literacy modules families can access immediately.
- Parents and guardians who previously filed IRS Form 4547 will receive phased activation emails that let them complete account setup through the app before investment activity begins.
- The Treasury plans to start depositing a $1,000 federal seed payment into eligible children’s accounts born between 2025 and 2028 and to open contributions around July 4, 2026.
- Accounts are structured as tax-deferred, IRA-style custodial accounts that invest only in low-cost U.S. equity index funds, bar withdrawals before age 18, and cap combined annual contributions at $5,000.
- The rollout relies on private partners BNY Mellon for custody and Robinhood for the consumer platform and includes corporate and philanthropic pledges, while experts warn the design may miss vulnerable children who are not enrolled by parents.