New federal initiative offers $1,000 government contribution and long-term investment accounts for eligible children born between 2025 and 2028
The U.S. Treasury has launched the “Trump Accounts” mobile app, a new digital platform designed to help parents and guardians manage tax-advantaged investment accounts for children as part of a federal savings initiative.
According to Treasury Secretary Scott Bessent, the program aims to provide families with a structured way to build long-term financial security for children through market-based investments. Starting July 4, the government will contribute $1,000 to eligible children’s accounts, which will then be invested in financial markets.
Parents can download the app via major app stores or the official government website, with account activation emails being sent in phases ahead of the program’s full rollout. Officials have also warned users to be cautious of scams, stating that the Treasury will not contact participants by phone or text message.
Eligibility is limited to children born between 2025 and 2028 for the government contribution, though families with older children may still open accounts without receiving the federal deposit. Contributions from parents, employers, and other sources are capped annually, and funds are restricted until the child reaches adulthood.
Withdrawals are generally prohibited before age 18, except under specific conditions such as rollovers or death of the account holder. After adulthood, funds become accessible under standard retirement-style rules.
The program has already seen significant early sign-ups, according to the Treasury Department, as it begins its phased national rollout.
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