Key takeaways

• Open your child's account by completing IRS Form 4547, then activating the account.
• The $1,000 federal seed contribution requires a separate election for eligible children.
• Automating contributions can be a good way to help you invest consistently to build your child’s account.

Parents now have a new way to invest for their children's future. Trump Accounts (also known as 530A accounts) are tax-advantaged investment accounts for eligible children that can be opened year-round with no minimum balance or account-opening fee. To open a Trump Account, you’ll need to complete an IRS Form 4547, activate the account, and contribute to it. Gathering the required information in advance may help streamline the process.

Completing IRS Form 4547 should take just a few minutes once you have the required information ready. Here's what you'll need to do:

• Confirm the child is eligible and that you're authorized to open the account.
• Gather the information you'll need before signing in. 
• Set up/sign in to your IRS Online Account through ID.me.
• Complete and submit IRS Form 4547.
• Check your election status and activate the account.
• Link a bank account and make your first contribution.

Is your child eligible for a Trump Account?

In general, children are eligible for a Trump account if they’re younger than 18 before the end of the calendar year the election is made and have a valid Social Security number.¹ Parents, legal guardians, and other authorized adults (adult siblings and grandparents) are eligible to open the account and act on behalf of the child.² Consider checking the latest guidance from the IRS before opening an account because eligibility requirements and procedures may change. Certain family situations, such as shared custody, foster care, or guardianship changes, potentially could affect authorization eligibility.

Decide whether to request the $1,000 seed contribution

Opening a Trump Account and requesting the $1,000 federal seed contribution are two separate actions.³ If the child is a U.S. citizen born between January 1, 2025, and December 31, 2028, you may be able to request the one-time federal seed contribution during the election process.

What you'll need to open a Trump Account

Having everything ready before you start can help streamline the process. 

Read more: Trump account for kids: Eligibility, government contribution, and limits

Sign in, complete, and submit IRS Form 4547

You'll start on the Internal Revenue Service’s Trump Accounts page and sign in using your IRS Online Account.⁴ If you don't have one yet, you'll need to complete identity verification through ID.me first before getting started.

Once you're signed in, you can fill out IRS Form 4547 with your information, the child's identifying information, and a certification that you're authorized to open the account.⁵ Authorized individuals can complete the election any time throughout the year before the applicable age deadline.

If the child qualifies under the program requirements, you'll also have the option to request the $1,000 federal seed contribution. This step is important because it does not happen automatically when you open the account. Be sure to take a moment to double-check details to help avoid any processing delays for the one-time contribution.

Activate the account

Submitting IRS Form 4547 opens the account application, but you’ll still need to activate the account. 

You can check the status of your submitted election on the IRS Trump Accounts page.⁶ Once it has been processed, you can activate the account through the Trump Accounts web portal or mobile app, accessible on TrumpAccounts.gov.⁷

You may receive an activation email from [email protected], and future account communications may come from authorized addresses ending in @trumpaccount.com.⁸ If you're unsure whether the email is legitimate, don't click the link. Instead, go directly to TrumpAccounts.gov yourself.

Make your first contribution

Once the child’s account is active, you can make your first contribution and continue funding it. From the app or website, select the child's account, link your bank account, choose your contribution amount, and review the details before submitting. You can make a one-time contribution or set up recurring deposits.

If your budget allows, automating contributions can make it easier to build assets in the account over the long term. Whatever the amount, consistent deposits can potentially grow through compounding, and automatic contributions mean you don't have to remember to transfer money each month. However, remember that the account balance is not guaranteed and may rise and fall over time.

Parents, other family members, and employers can contribute a combined total of up to $5,000 per child in 2026 and 2027. That annual limit doesn't include the initial government seed contribution for eligible children or qualifying philanthropic contributions. Contribution limits can change in future years, so it’s important to review the current rules.

Troubleshooting Trump Account sign-up issues

This at-a-glance guide can be helpful if you run into any bumps during the process. 

Frequently asked questions about Trump Accounts

What are Trump Accounts?

Trump Accounts, also known as 530A accounts, are a new type of traditional IRA for eligible children under 18 years old. These tax-advantaged custodial accounts are owned by the child, with a parent or guardian authorized to manage the account until the child turns 18. The child is both the account owner and beneficiary.

Why are Trump Accounts for kids trending?

Trump Accounts are gaining attention among parents looking for new ways to save and invest for their children’s future. The program launched on July 4, 2026, and includes a one-time $1,000 federal seed contribution for eligible children (born between January 1, 2025, and December 31, 2028), which also may be generating interest.

How are Trump Accounts taxed?

Generally, individual contributions are made with after-tax dollars, investments can potentially grow tax deferred, and withdrawals may be taxable under rules that generally resemble traditional IRA treatment.⁹ Because tax situations vary, review the latest IRS guidance or consult a qualified tax professional.

What can Trump Accounts be used for?

Trump Accounts are designed as long-term investment accounts, not everyday savings accounts. Withdrawals are generally restricted during the growth period until age 18 and traditional IRA-style rules generally apply afterward.¹⁰

How much could a Trump Account be worth after 18 years?

The balance of a Trump Account will depend on factors including the starting amount, additional contributions, investment performance, fees, market conditions, and future changes to program rules. Empower’s Trump Account Calculator can help you estimate potential growth. Any growth illustration should be viewed only as an example — not a guarantee of future returns. Trump Accounts do not guarantee investment returns, and their value may increase or decline.