Treasury offers auto enrollment for Trump Accounts

• Key insight: Discover how the Treasury Department is shifting enrollment for millions of children's investment accounts.
• What's at stake: Families who fail to complete one specific step will miss out on government funding.
• What's coming: Proposed regulations to govern the automatic enrollment process.
  

The Treasury Department said Thursday it's providing automatic enrollment for Trump Accounts, expanding access and creating a pathway for philanthropic contributions to invest in the financial futures of millions of American children.    

Trump Accounts are tax-advantaged investment accounts for American children under the age of 18. Claiming a child's account is a powerful step toward building lifelong financial security.  The One Big Beautiful Bill Act that Congress passed last year created the Trump accounts, providing tax-deferred accounts for children born between Jan. 1, 2025 and Dec. 31, 2028 and enabling newborns to receive a $1,000 contribution from the government.

"Millions of children have already enrolled in Trump Accounts," said Treasury Secretary Scott Bessent in a statement Thursday. "With automatic enrollment, over 60 million more eligible children now have an account ready to be claimed. This is a transformative milestone in the Trump Administration's effort to give every American child the opportunity to build generational wealth and jump-start their financial future."  

Earlier this week, the Treasury issued temporary regulations and proposed regulations providing for automatic enrollment. Previously, parents and guardians had to enroll in the program.

The Treasury said Thursday that with automatic enrollment now complete, every eligible child under the age of 18 with a valid Social Security number now has a Trump Account. 

A parent or guardian must claim the child's automatically enrolled Trump Account to manage it and allow for family members, friends, and employers to contribute.

To claim a child's Trump Account, parents and guardians can download the official Trump Accounts app, available for iOS and Android in the Apple App Store and Google Play, which the Treasury unveiled in May. 

During the claiming process, a parent or guardian will verify their identity and relationship to their child, review the child's information, and accept the account terms. 

Eligible children also need to have their Trump Account claimed to receive the one-time $1,000 seed contribution from the Treasury.

For more information, visit TrumpAccounts.gov.  

Introductory bullet points created by AI with editorial review.