- Parents cannot depend on an automatic enrollment system to create a new Trump Account for their children.
- To qualify for the $1,000 pilot program contribution for a Trump Account, a child must be a U.S. citizen, have a valid Social Security number and be born in 2025, 2026, 2027 or 2028.
- If you live in the right zip code — and many people do for this program — families with newborns and young children could see $250 from tech billionaire Michael Dell and his wife Susan.
More information is to be available Dec. 17, according to TrumpAccounts.gov. The Internal Revenue Service issued some guidance online on Dec. 2.
It will be essential for parents and legal guardians to use IRS Form 4547 to elect to establish an initial Trump Account for the exclusive benefit of a child who is eligible. Contributions to Trump Accounts cannot be made before July 4, 2026.