Overview
- The program went live on July 4, 2026, and federal systems began accepting contributions and issuing seed deposits to eligible children born in 2025–2028.
- Enrollment climbed into the millions within days, with public tallies ranging from roughly 4 million to more than 6 million accounts and between hundreds of thousands and about 1.4 million children reported to have received the $1,000 Treasury seed so far.
- Lawmakers capped non‑government contributions at $5,000 per child per year, set an administrative fee cap of 0.10%, limited default investments to broad U.S. equity index ETFs, and required conversion of balances to traditional IRAs when the child turns 18.
- Robinhood was chosen to build the program app and serve as the initial trustee while BNY Mellon acts as financial agent, prompting big brokers to court future trustee‑to‑trustee rollovers and regulators to tweak rules to ease industry participation.
- Major philanthropy and corporate commitments — including Michael and Susan Dell’s $250 pledge to 25 million children and Micron’s $250 million — amplify the federal seed but critics warn the rules favor families who can add funds and concentrate long‑duration flows in a few index providers, with practical effects on things like college aid eligibility.