Overview
- Treasury Secretary Scott Bessent said Wednesday at CNBC's Invest in America Forum that more than 5 million child accounts are open, with about 1.2 million eligible for the $1,000 pilot deposit.
- The $1,000 government seed is set to be credited on July 4, 2026, for children born from 2025 through 2028 who have accounts.
- Parents or guardians can open accounts through IRS Form 4547 with their 2025 tax return or online at TrumpAccounts.gov, and any U.S. child under 18 with a Social Security number can hold one.
- Companies and philanthropists have pledged extra funds, with Michael Dell citing billions in commitments and Brad Gerstner promising $250 for each opened account for Indiana children under five.
- Bank of New York Mellon will manage the accounts with a Robinhood-built app, and contributions from families, employers, or others can total up to $5,000 per child each year.