Do you have a child under 18? If so, they could be eligible for a Trump Account — one of the most talked-about provisions of the 2025 Trump/GOP tax and spending law.
Trump Accounts are child-focused savings vehicles designed to help provide a head start on a beneficiary’s higher education, first-time homeownership, and entrepreneurial pursuits. And for children born within certain years, the federal government will seed each account with $1,000.
So far, more than 1 million taxpayers have already taken steps to open a Trump Account during the 2026 tax season. That’s according to IRS CEO Frank Bisignano, who recently reported on the accounts at a U.S. Department of the Treasury meeting.
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With the program seeing such early, rapid adoption, you might be wondering: Is a Trump Account right for your child?
If so, here’s more on how to claim the $1,000 match and what you need to do before you file.
Trump Account for kids: What it is and how to claim your match
Trump Accounts, also called 530A accounts, are tax-deferred investment savings designed to help save for future qualified expenses.
While parents and employers can contribute a combined $5,000 per year to Trump Accounts, the biggest draw of the 2026 filing season is the opportunity to claim “free money” through the federal match program.
The IRS has introduced Form 4547, which allows taxpayers to elect to open an account and claim a one-time $1,000 federal deposit for qualifying children.
Do you have a qualifying child for the $1,000 Trump Account match? Before you file, you should ensure your child meets the three primary criteria for the federal seed money:
- Your child must be born between January 1, 2025, and December 31, 2028.
- Both parents (if filing jointly) must have Social Security numbers (SSNs) or individual tax identification numbers (ITINs).
- Your child must be a U.S. citizen and have a SSN.
You can open a Trump Account for any qualifying child under the age of 18; however, the $1,000 match is only open to those born during the eligible years.
Trump Account enrollment and the Form 4547
You can’t officially contribute to a Trump account until July 4, 2026. But you can start the application process during the 2026 tax season. Here’s how:
- The primary registration method is through filing Form 4547 with your 2025 federal income tax return. On this form, you will elect to establish the account and, if eligible, claim the $1,000 “newborn match.”
- Beginning May 2026, the Treasury will provide account-opening instructions for those who applied.
- In the meantime, parents, employers, and kids can read more about Trump Accounts via the official website, TrumpAccounts.gov.
“For individuals who do not file taxes, or who may miss the election during their normal filing, we’ll make a simple and accessible online form available later this spring,” Matthew Garber, Treasury Deputy Assistant Secretary for Fiscal Operations and Policy, reported at the Feb. 6 Treasury event.
So if you forget to submit Form 4547 during the 2026 tax season, or don’t need to file an income tax return this year, don’t worry — you can still apply for a Trump Account.
After submitting your application, the Treasury Department (or its “partner financial firm”) will contact you to initiate the authentication process. The formal review is expected to commence after tax season closes, though the exact method of reach-out has not been established.
Trump Accounts for kids: The $1,000 employer match
Although the federal government provides the initial $1,000 match for qualifying infants, some employers are expanding that deposit.
Over 25 companies have pledged an additional one-time $1,000 deposit for employees with qualifying children, including (but not limited to):
- Bank of America, Broadcom Inc., Charles Schwab, Chipotle Mexican Grill,
- Coinbase, Comcast, Continental Resources, Dell, IBM,
- Intel, JPMorgan Chase & Co, Mastercard, NVIDIA, Robinhood Markets,
- Russell Investments, Steak ‘n Shake, SoFi Technologies,
- Visa, Wells Fargo, and Uber.
High-profile donors Michael and Susan Dell, Ray and Barbara Dalio, Nicki Minaj, and Brad Gerstner have also pledged additional, targeted contributions to fund some accounts, and each donation has different eligibility requirements. For example, the Dell donation is for children aged 10 and under who live in ZIP codes with a median income of $150,000 or less.
So far, all philanthropic contributions are expected to approximate about $250 per qualifying child (except for Minaj’s donation, which was not pledged on a per-child basis).
As the 2026 tax season rolls on, the Treasury is still finalizing specific procedures for activating Trump Accounts. Stay tuned for updates.
