What is happening?
The Trump Accounts app goes live this week in the Apple and Google app stores. It was built by Bank of New York Mellon and Robinhood, and it is where families will manage these new investment accounts for their children.
If you have already enrolled at TrumpAccounts.gov, you can activate your account right away. If not, you can still sign up there now.
Who gets the free $1,000?
Children born between 2025 and 2028 who are U.S. citizens with a Social Security number are eligible for a $1,000 federal contribution. That money gets deposited starting July 4, when the accounts officially open for funding.
- App launches: May 28
- Funding begins: July 4
What if my child does not qualify for the $1,000?
Any child with a Social Security number can still open an account, even if they were born before 2025. The free money is just for the newest kids, but the account itself is open to all.
Family members, friends, and even employers can contribute, up to $5,000 a year total. That is a nice feature if you have grandparents or others who want to contribute.
How does the money get invested?
At launch, the default investment is an S&P 500 ETF, a simple and diversified fund that tracks the 500 largest U.S. companies. More options are expected to be added down the road.
The app will also let you set up automatic contributions and see projections of what the account could grow to over time.
What happens when my child turns 18?
They take control of the account. They can withdraw the funds or keep investing, similar to how a traditional IRA works. One planning note: if you contribute consistently over the years, there may be an opportunity to convert it to a Roth IRA, which could be a big benefit down the line.
Bottom line
For eligible children, the federal contribution requires nothing beyond enrollment. More broadly, the account offers a clean, tax-deferred structure and the ability for extended family to contribute adds a practical dimension worth noting.
Disclosure
This material is provided by Gryphon Financial Partners, LLC (“Gryphon”) for informational purposes only. It is not intended as a substitute for personalized investment advice or as a recommendation or solicitation of any particular security, strategy, or investment product. Facts presented have been obtained from sources believed to be reliable, though Gryphon cannot guarantee their accuracy or completeness. Gryphon does not provide tax, accounting, or legal advice. Individuals should seek such guidance from qualified professionals based on their specific circumstances.