Overview
- A Treasury announcement Monday named BNY Mellon financial agent and Robinhood the brokerage and app partner for Trump Accounts.
- Authentication for families begins in May, with $1,000 deposits scheduled for July 4 for eligible children born from 2025 through 2028.
- The IRS reports more than 4 million children were enrolled by March 31, including over 1 million already eligible for the initial grant.
- Accounts allow up to $5,000 a year in contributions, permit up to $2,500 pretax from employers, invest only in low‑fee index funds, and stay locked until age 18.
- The app will be a Treasury‑controlled white‑label product, with financial terms undisclosed and open questions about user guidance and long‑term operations.