trump account |

One Big Beautiful Bill Act (OBBBA) of 2025 introduced a new type of retirement account intended to be opened and contributed on behalf of minor children, which the law named  Trump Account (TA).

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​​Right now the only way to access these is on the US Treasury site (trumpaccounts.gov).  

• How to enroll:
  • File IRS Form 4547, or
  • Use the federal portal at trumpaccounts.gov
• Status: This is the only active enrollment path right now.
• Funding timing: Government pilot contributions and private contributions are not deposited until July 4–5, 2026, but the account election/enrollment can be made now. [irs.gov], [trumpaccounts.gov]

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The Treasury is acting as the initial administrator and custodian for all Trump Accounts during the launch phase


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frequently asked questions (FAQs)

​​​What Are Trump Accounts?
Trump Accounts are a new type of retirement-style account designed for minor children. These accounts are intended to help families start long-term savings early, with contributions made on a child’s behalf until adulthood.
 
Key Features Include:

• Accounts are opened and managed for children under age 18
• The account is treated as a retirement account
• Trump Accounts are currently expected not to count as a student-owned asset for FAFSA purposes, though final guidance is still pending
• Children born between 2025 and 2028 may be eligible for a one‑time $1,000 government contribution

 
Contribution Rules:

• Up to $5,000 per year can be contributed on behalf of a child until age 18

• Up to $2,500 per year may come from employer contributions
• Once the child turns 18, standard IRA contribution limits are expected to apply

 
 
 
Tax Treatment:
Trump Accounts can contain both pre‑tax and after‑tax contributions, which adds complexity.

In general:

• Government pilot contributions, certain employer contributions, and investment growth are expected to be pre‑tax
• Direct personal contributions are expected to be after‑tax
• Because of this mix, families will need to track which dollars are pre‑tax and which are after‑tax

 
Withdrawals:

• No withdrawals are allowed before age 18
• After age 18, withdrawals are expected to follow traditional IRA rules with cost basis
  • After‑tax contributions may be withdrawn tax‑free
  • Pre‑tax amounts are generally taxable as ordinary income
  • Withdrawals before age 59½ may be subject to a 10% penalty

 
Important: Due to the complexity of these rules, we strongly recommend discussing your situation with us before making personal contributions.

Who administers Trump Accounts?

The U.S. Treasury Department is expected to establish and administer Trump Accounts at launch (currently expected July 2026). Additional custodians may be approved later.
 
How to enroll:
You can currently establish eligibility by:

• Filing IRS Form 4547, or
• Using the federal portal at trumpaccounts.gov

This is currently the only active enrollment path.
 
Funding timing:

• Government pilot contributions and private contributions are expected to be deposited in early July 2026
• Enrollment elections can be made now, even though funding occurs later

 
 
Our guidance:
We encourage parents with eligible children to consider opening an account solely for purposes of receiving the initial Treasury contribution. However, we generally do not recommend making additional personal contributions without careful planning and a discussion of your family’s broader financial goals. These accounts involve:

• Complex tax tracking between pre‑tax and after‑tax dollars
• Limited flexibility prior to age 18
• Retirement‑style withdrawal rules that may not align with family or education goals
• Uncertainty around long‑term administrative and tax guidance as the program evolves

 
Thinking about contributing? We can help you evaluate whether this fits your family’s overall plan. Please contact us to discuss further.
irs.gov
trumpaccounts.gov

Select link to download a copy of FAQs