WASHINGTON (dpa-AFX) - Treasury AnnounceOn the 250th anniversary of the founding of the United States, the U.S. Department of the Treasury announced the nationwide launch of Trump Accounts, a stock market index investment account for U.S. children.
'Trump Accounts are now live, giving every child a stake in the American Dream from day one thanks to President Trump,' said U.S. Treasury Secretary Scott Bessent, 'The Trump Accounts app is now updated with the full suite of account capabilities: you can start funding your child's account, exploring financial education modules, and more.'
Also known as 530A account, it can be opened for a child under 18 with a Social Security number. It eventually grows tax-free, serving as a type of individual retirement account.
The funds in the account can be withdrawn only after January 1 of the calendar year in which the child reaches 18 years. More than six million families have signed up for Trump Accounts prior to the official launch of the program, according to the Treasury.
With the launch, the Trump Accounts app now offers full-scope functionality nationwide, allowing parents and kids to securely access their account, see their funds in real time, and contribute to their Trump Account directly from their phone or tablet.
New account dashboards provide a clear view of balances, contributions, and investment performance, empowering families to track progress as children grow. The app also includes exciting new features for parents, making it easier to set recurring contributions, link bank accounts, and receive personalized guidance on building their child's financial future.
To complement the launch of full account access, Trump Accounts now includes 15 interactive financial education modules for parents and children. These modules introduce concepts such as saving, investing, compound growth, diversification, and the role of American capital markets in supporting businesses and jobs.
Once enrolled, parents can begin contributing immediately, and children will be able to track their investments beginning Monday, the Treasury said. Simple performance graphs in the app will help young account holders see how saving and investing over time can build meaningful resources for education, entrepreneurship, homeownership, and retirement.
The U.S. government, private donors and employers can deposit money into the Trump account.
More than 50 companies have already committed to offer Trump Account contributions for children of their employees, according to the Treasury.
s Official Launch of Trump Accounts
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