Overview
- The federal site TrumpAccounts.gov is accepting Form 4547 elections, and an IRS official says more than 1 million taxpayers have already started enrollment during the 2026 filing season.
- Treasury says authentication and outreach to applicants will begin in May, and the first $1,000 government deposits will post after early July once accounts are verified.
- Eligibility for the federal seed is limited to U.S. citizens born from Jan. 1, 2025, through Dec. 31, 2028, though any child under 18 can open an account without the deposit.
- Annual contributions are capped at $5,000 per child, employer deposits up to $2,500 count toward that limit, funds are generally locked until age 18, and the accounts follow IRA-like rules thereafter.
- Major employers including JPMorgan, Charles Schwab, Bank of America, and others have pledged $1,000 matches for eligible workers, and donors such as Michael and Susan Dell and Ray and Barbara Dalio have announced targeted contributions, with investments required to be in low-cost diversified options and returns not guaranteed.