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Trump Accounts open for contributions on July 4, 2026. To open one, you file IRS Form 4547 to claim the $1,000 seed (for children born 2025 to 2028), open the account at trumpaccounts.gov or a custodian like Fidelity or Vanguard, choose a qualifying index fund, and optionally contribute up to $5,000 a year. Any U.S. citizen child under 18 with an SSN can have one; only the seed is age-restricted. Here is exactly how to do it in about 15 minutes.
Key Takeaways
- File Form 4547 to claim the $1,000 seed for children born 2025 to 2028.
- Open July 4, 2026 at trumpaccounts.gov or an authorized custodian.
- Invest in a qualifying U.S. index fund (expense ratio 0.10% or lower).
- Contribute up to $5,000 a year per child from all sources; growth is tax-deferred.
What Do You Need Before You Start?
Have ready your child’s Social Security number, your own SSN, a filed or in-progress 2025 federal tax return (or access to amend it), and about 15 minutes. Note that your child does not need to have been born after 2024 to open an account: any U.S. citizen under 18 with an SSN qualifies, and only the $1,000 government seed is limited to children born 2025 to 2028.
How Do You Claim the $1,000 With Form 4547?
If your child was born between January 1, 2025 and December 31, 2028, the first step is filing IRS Form 4547 to elect the seed. You can include it with your 2025 tax return, file an amended return (Form 1040-X) if you already filed without it, or use the online election tool at trumpaccounts.gov once it opens. The $1,000 does not count toward the annual $5,000 limit; it is a government contribution that costs you nothing out of pocket.
How Do You Open the Account?
Starting July 4, 2026, you can open through two channels. The government portal at trumpaccounts.gov, administered through BNY Mellon with a Robinhood-powered app for the customer experience, or an authorized custodian such as Fidelity, Vanguard, or Schwab once private-custodian rules are finalized. You will need the child’s full legal name, date of birth, and SSN, plus your own details as custodian, with a limit of one account per child. See our guide on whether grandparents can open one, and our full comparison of Fidelity, Schwab, Vanguard, and other trustees once you’re ready to pick one.
How Do You Choose Your Index Fund?
All investments during the growth period must track a broad U.S. equity index, hold at least 90% U.S. companies, charge 0.10% or lower, and use no leverage.
| Fund | Type | Expense ratio |
|---|---|---|
| Fidelity ZERO Large Cap (FNILX) | Mutual fund | 0.00% |
| Vanguard S&P 500 (VOO) | ETF | 0.03% |
| iShares Core S&P 500 (IVV) | ETF | 0.03% |
| Vanguard Total Stock Market (VTI) | ETF | 0.03% |
| Fidelity 500 Index (FXAIX) | Mutual fund | 0.015% |
| Schwab S&P 500 Index (SWPPX) | Mutual fund | 0.02% |
See our full breakdown of qualifying index funds by custodian.
How Do You Make Your First Contribution?
The $1,000 seed is automatic once you file Form 4547 and open the account, so you do not need to add your own money. If you want to contribute more, the annual limit is $5,000 per child combined from all sources, employers can contribute up to $2,500 a year (which counts toward the $5,000 but is tax-free to you), and contributions are not federally deductible.
Use this calculator to see how it grows at different contribution levels:
Compound Interest Calculator
What Happens at Age 18?
The year before your child turns 18, the account converts to a standard traditional IRA and the child takes full, unrestricted control. They can keep it invested, convert it to a Roth IRA (often smart in a low bracket at 18), or withdraw it subject to standard IRA taxes and a potential 10% early-withdrawal penalty if under 59 and a half. There is no way for parents to restrict what the 18-year-old does, so plan accordingly.
FAQ
How do I open a Trump Account?
File IRS Form 4547 to claim the $1,000 seed (if eligible), then open the account July 4, 2026 at trumpaccounts.gov or a custodian, choose a qualifying index fund, and optionally contribute up to $5,000 a year.
Do I have to file Form 4547?
Only to claim the $1,000 seed, which applies to children born 2025 to 2028. For older children there is no form; you simply open the account.
How much can I contribute to a Trump Account?
Up to $5,000 a year per child from all sources combined. Employers can add up to $2,500 of that tax-free to you, and the $1,000 seed does not count toward the limit.
Who should not rush to open one?
If your child does not qualify for the seed, a 529 is often better for college, and a custodial Roth IRA is better if the child has earned income. The seed is the main reason to open quickly.
Bottom Line
Opening a Trump Account is a five-step, 15-minute process: file Form 4547 for the seed, open the account July 4, pick a qualifying index fund, contribute if you can, and know it converts to the child’s IRA at 18. The $1,000 seed for eligible children is free money worth claiming first, and there’s no need to rush; the real cutoff to claim it runs through December 31 of the year your child turns 17, not April 15. To go deeper, see our guides on the best qualifying funds, Trump Account vs 529, and whether grandparents can open one.
This article is for educational and informational purposes only and does not constitute financial or tax advice. Program rules may change, so confirm current details at trumpaccounts.gov and irs.gov.
