Trump Accounts for kids launch July 4: What parents need to know

President Donald Trump speaks about Trump Accounts at the Andrew W. Mellon Auditorium in Washington, Jan. 28, 2026. Brendan Smialowski | AFP | Getty Images Trump Accounts officially launch on July 4. These new tax-advantaged investment accounts for children are geared toward long‑term retirement savings , rather than education or shorter‑term goals. While some details are still forthcoming , this guide explains how these accounts work, including details about who is eligible, what free money is available and how to maximize the long-term growth potential. What is a Trump Account? Trump Accounts, also known as 530A accounts, are a type of individual retirement account for children, enacted via President Donald Trump 's " big beautiful bill ." The accounts include a one-time $1,000 pilot program contribution from the U.S. Treasury Department for babies born from 2025 through 2028. How does a Trump Account work? The accounts function like an IRA, with some exceptions. Trump Accounts can receive contributions from multiple sources, such as family or employers, and the funds grow tax-deferred. The money will be invested in U.S. stock funds, and Bank of New York Mellon will officially manage the initial accounts . Families can track account activity with the Trump Accounts app , which was designed in partnership with Robinhood . Who is eligible for Trump Accounts? Trump Accounts are available for all children age 18 or younger. …