Trump Account mobile app released, functions as IRA for kids
A mobile app for the Trump account was launched on May 28th. The government is paying $1,000 into the accounts of children born between 2025 and 2028.
Good news for families who don’t qualify for the $1,000 Trump Account Newborn Pilot Program. Parents can open and fund a Trump account for their children under 18, even if they are not eligible for federal aid.
As USA TODAY’s Daniel de Visse previously reported, the Trump account was created under the 2025 federal tax law as a new type of tax-advantaged savings account. The pilot program provides government subsidies for certain newborns, but all eligible families can participate on their own if their child meets the requirements.
Before opening an account, parents may have practical questions, such as who can open an account, when they can start contributing, and what rules apply in the long term. Here’s what you need to know about how the program works.
Is your child eligible to participate in the $1,000 Pilot?
According to the official Trump Account website, federal seed money will only be provided to children who meet three requirements:
- They were born between January 1, 2025 and December 31, 2028.
- they are US citizens.
- They have social security numbers.
That means children born before 2025 or after 2028. Not eligible For a one-time $1,000 donation.
Can older children get an account?
Yes, you can. The IRS says children who have a Social Security number and are not 18 years old by Dec. 31 of the year the account is opened can generally get a Trump account.
In layman’s terms, this means that families with school-age children and teenagers may be able to open an account even if their children are unable to receive a $1,000 pilot deposit. For example, if a family opens an account in 2026, children born between 2009 and 2026 may be covered.
How can my family open an account?
The first option is to file your 2025 federal tax return on IRS Form 4547.
The other is an online portal at Trumpaccounts.gov that is expected to open by mid-2026 for households that did not take advantage of the 2025 return. Alternatively, you can go directly to the IRS site and create or use an existing account to apply. The Treasury Department also launched the Trump Accounts app, which can be used to complete account setup and management during deployment.
If you miss the first window, you can open an account later in life if your child is under 18.
When can I actually deposit money into my account?
Even if you open your account earlier, you can’t start making contributions before July 4, 2026, according to Treasury and IRS documents.
From that date, families, relatives and employers can contribute up to $5,000 per child per year in combined non-government funds. Certain government agencies and charities may also make additional contributions that do not count toward the annual limit. The $5,000 cap will be adjusted for inflation starting in 2027.
What happens after I sign up?
Families will be directed to use the app (for Apple and Android) or go directly to Trumpaccounts.gov to complete setup. There is an activation process before your account is ready to accept money, so don’t expect to see it right away. Additionally, opening an account does not mean that you will be able to fund it right away. Once set up, your account will be ready until July 4, 2026, after which it will begin accepting donations.
Although the Treasury Department has started sending activation emails in stages, it is important to note that official messages during the rollout will only be sent from: no-reply@TrumpAccounts.Treasury.gov.
The Treasury Department says activation messages will not be sent by text, phone call or social media message to avoid phishing attempts. Any suspicious IRS or Treasury related emails can be forwarded to phishing@irs.gov. Families are being told not to click on unsolicited links and to only access their accounts through the official app or by typing “TrumpAccounts.gov” directly into their browser.
What are the contribution rules for non-pilot children?
The contribution rules are the same for children who do not receive the $1,000 federal grant. The account is not a government deposit and simply starts at zero.
The annual limit is $5,000 per child for all non-governmental funds combined, with inflation adjustment expected to occur from 2027 onwards. Employers can contribute up to $2,500 per year under the Employer Contribution Program, and that amount counts toward the $5,000 limit, but is generally excluded from an employee’s taxable income if structured through the Employer Program.
Government agencies and charities may also be able to make qualified general donations to groups of children, but those amounts do not count toward the $5,000 annual limit.
Can the family spend the money before the child turns 18?
In general, no. Even for family members who are not pilots, the money is kept for a long time. According to the IRS, funds cannot be withdrawn before January 1 of the calendar year in which the child turns 18.
The account is then treated like a traditional IRA, and withdrawals are made according to traditional IRA rules. The Treasury Department and IRS describe the Trump account as a tax-advantaged investment account that allows contributions to grow tax-deferred up to that point. Families with children who are not eligible for the exam will not receive the federal initial deposit, but there is still time to contribute before the child reaches adulthood. The few years before age 18 can be used to build savings and give your account time to compound.
What do experts advise?
Trump accounts invest in low-cost index funds and are not allowed to be withdrawn until the year a child turns 18, after which they are treated like a traditional IRA with essentially the same rules.
As USA TODAY’s Medora Lee reported, most advisors are telling their clients to sign up for a Trump account on their baby to get the free $1,000. Some people tout that you can convert your Trump account to a Roth IRA at age 18, making the tax-deferred growth tax-free for life. Some say that while it may be tempting, it depends on your financial plans and how much you believe things will never change.
This story was created with the help of artificial intelligence (AI). Journalists were involved in every step of the information gathering, review, editing, and publication process. learn more.
