Treasury Secretary Scott Bessent said Wednesday at CNBC’s Invest in America Forum that roughly 5 million children have signed up for Trump Accounts, with about 1.2 million eligible for a $1,000 government seed contribution.
The update marks a step up from earlier adoption figures. Prior IRS data had shown over 4 million registrations and more than 1 million opting into the pilot funding tied to the accounts.
‘Just The Starting Point’
Bessent framed the contribution as an entry point rather than a full solution. “The $1,000 is just the starting point,” he said, signalling the administration’s focus on long-term asset building through early exposure to capital markets.
The accounts were created under President Donald Trump’s tax legislation and are structured as tax-deferred investment vehicles for minors. Eligibility for the federal seed money is limited to children born between 2025 and 2028.
How The Program Works
Families can enroll through IRS Form 4547 when filing their 2025 tax returns or via an online portal. The accounts are scheduled to formally launch on July 4.
They allow contributions from parents, employers and third parties, with annual limits and investment requirements tied largely to low-cost U.S. equity index funds. Funds can be accessed once the beneficiary reaches adulthood, aligning the structure with long-term savings and retirement-style frameworks.
Corporate Backing Builds Momentum
The program has drawn support from corporate America. Companies including Dell Technologies Inc. (NYSE:DELL), SoFi Technologies Inc. (NASDAQ:SOFI) and JPMorgan Chase & Co. (NYSE:JPM) have announced matching contribution initiatives.
Bank of New York Mellon Corp. (NYSE:BK) will serve as the financial agent managing the accounts, with Robinhood Markets Inc. (NASDAQ:HOOD) developing the supporting app infrastructure. Billionaire Michael Dell and his family also pledged $6.25 billion in 2025 toward Trump Accounts, including funding contributions tied to eligible children.
Disclaimer: This content was produced with the help of AI tools and was reviewed and published by Benzinga editors.
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