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Everything you need to know about Trump Accounts in one place. Updated June 1, 2026.
Basics
What is a Trump Account?
A Trump Account (officially called a Money Account for Growth and Advancement, or MAGA account) is a tax-advantaged investment account created by the One Big Beautiful Bill signed into law in 2025. The federal government deposits $1,000 into an account for every child born on or after January 1, 2025 with a valid Social Security number. Funds are invested and locked until the child turns 18, at which point the money can be used tax-free for qualified education expenses, a first home purchase, or starting a business.
Who qualifies for a Trump Account?
Any child who meets all three of these criteria: born on or after January 1, 2025, is a U.S. citizen or lawful permanent resident, and has a valid Social Security number. Children born before 2025 can have a Trump Account opened by parents but do not receive the $1,000 government contribution.
When does the $1,000 arrive?
July 4, 2026 for children who were enrolled before the enrollment deadline. If you enroll after July 4, the $1,000 deposits within 60 days of enrollment confirmation.
Is a Trump Account the same as a 529 plan?
No. They are different programs. A 529 plan is a state-sponsored education savings plan with no government contribution. A Trump Account is a federal program with a $1,000 government seed contribution that can be used for education, a home purchase, or a business. Families can and should have both if financially feasible. See our full Trump Account vs 529 comparison.
Eligibility and Enrollment
My child was born in 2024. Can they get a Trump Account?
Yes, they can have an account, but they do not receive the $1,000 government contribution. Only children born on or after January 1, 2025 receive the government seed money. Parents of children born before 2025 can open an account and fund it themselves. See our full guide: Trump Account for Children Born Before 2025.
How do I enroll my child?
Complete IRS Form 4547 through IRS.gov/trumpaccounts or the official Trump Accounts app (developer: U.S. Department of the Treasury). You will need your child’s Social Security number and your own IRS login credentials. See our step-by-step guide: How to Open a Trump Account.
What is the enrollment deadline?
There is no hard lifetime deadline for enrollment. However, children enrolled before July 4, 2026 receive the $1,000 government contribution on that date. Children enrolled after July 4 receive the contribution within 60 days of enrollment. There is no penalty for late enrollment.
My child was born abroad but is a U.S. citizen. Do they qualify?
Yes. U.S. citizenship is the eligibility criterion, not birth location. A child born abroad to U.S. citizen parents who obtains a valid Social Security number qualifies for a Trump Account and the $1,000 government contribution.
Contributions
Can I add more than the $1,000 government contribution?
Yes. Parents and family members can contribute up to the annual gift tax exclusion ($18,000 per donor in 2026). Employer contributions are separate and may also be made. There is no annual contribution limit per se, but contributions exceeding the gift tax exclusion require IRS Form 709.
Does my employer have to match my child’s Trump Account?
No. Employer matching is voluntary. Some employers have pledged to match the government contribution dollar-for-dollar. Most have not. Ask your HR department whether your company offers Trump Account matching. See our updated list: Companies Matching Trump Account Contributions.
Can grandparents contribute?
Yes. Any individual can contribute up to $18,000 per year per child to a Trump Account under the gift tax exclusion. Grandparent contributions are treated the same as parent contributions: after-tax dollars, no deduction, tax-deferred growth, tax-free qualified withdrawal.
I am self-employed. Can I still get an employer match?
Not in the traditional sense, but you can contribute as a parent. If you own a business, you may be able to structure matching contributions as a company benefit. See our full guide: Trump Account for Self-Employed Families.
Investments
What can Trump Account funds be invested in?
U.S. equities (stocks and index funds) and U.S. government and corporate bonds. International stocks and cryptocurrency are not permitted. The most common and recommended default is a low-cost S&P 500 or total U.S. market index fund.
What is the default investment if I do not choose?
A target date fund based on the child’s birth year. This is a reasonable default but may be slightly more conservative than optimal for very young children. Review and update your allocation after enrolling.
Can I change the investment allocation?
Yes, at any time through the custodian platform with no fee or penalty. See our investment guide: Best Investments for a Trump Account.
Withdrawals
When can the money be accessed?
When the child turns 18. Before age 18, withdrawal is not permitted except in cases of the child’s death, permanent disability, or qualified rollover.
What can the money be used for at age 18?
Tax-free withdrawals for: post-secondary education expenses (tuition, fees, books, room and board), a first home purchase, or starting a qualified business. Non-qualified withdrawals are subject to income tax plus a 10% penalty on the gains portion.
Can the money be rolled into a Roth IRA?
Under certain conditions, yes. The rollover rules mirror 529-to-Roth IRA provisions with contribution limits and restrictions. Consult a tax professional before initiating any rollover.
What happens if my child does not use the money for a qualified purpose?
The gains portion is subject to income tax at the child’s rate plus a 10% penalty. The contributed basis (original amounts) is returned without additional tax since those were either the government contribution or after-tax contributions.
Taxes
Is the $1,000 government contribution taxable income?
No. It is not reported as income and you do not pay tax on it when received.
Are investment gains inside the account taxed annually?
No. Growth is tax-deferred. You pay no tax on gains while the money remains in the account.
Are qualified withdrawals at age 18 taxed?
No. Qualified withdrawals for education, home purchase, or business are completely tax-free. See our full tax guide: Trump Account Tax Implications.
Scams and Security
How do I know if a Trump Account website or app is legitimate?
The only legitimate website is TrumpAccounts.gov. The only legitimate app is “Trump Accounts” by the U.S. Department of the Treasury on the App Store and Google Play. Never pay a fee to access or activate a Trump Account. See our scam guide: Trump Account Scams: How to Spot and Avoid Them.
What should I do if I think I was scammed?
Report to the FTC at ReportFraud.ftc.gov. Report phishing emails to phishing@irs.gov. If you provided personal information, contact the IRS Identity Protection Specialized Unit at 1-800-908-4490 immediately.
Last updated June 1, 2026. Sources: One Big Beautiful Bill (2026); TrumpAccounts.gov; IRS Form 4547 instructions; U.S. Treasury Department Trump Account program materials. This article is for informational purposes only.
