At the end of May, the U.S. Department of the Treasury announced the launch of an app for Trump Accounts. This app will be the main interface for managing a Trump Account. Trump Accounts (530A Accounts) are a savings account for children under the age of 18 that provide tax-advantaged savings to foster investment. Established with the legislation passed under the One Big Beautiful Bill Act (OBBBA), this account can be set up for any child under the age of 18. Additionally, children born between January 1, 2025, and December 31, 2028 can receive a contribution of $1,000 from the government upon establishing an account.
If you have already set up an account, or you plan to do so, keep reading to learn more about this app and what next steps will be to start making contributions.
Trump Account App
According to the Treasury, the next phase of the Trump Accounts program will include account activation ahead of the official launch on July 4, 2026.
A Trump Account can be set up when you file your tax return, or by an online portal. You can read more about setting up a Trump Account on our recent blog.
Parents and legal guardians who signed their children up for Trump Accounts by submitting IRS Form 4547 will begin receiving emails with instructions to complete the account setup process.
Activation e-mails for these families will be sent out in phases between now and July 4, 2026.
Next Steps if You Already Set Up a Trump Account
The following are steps if you have already signed up a child for a Trump Account:
- Look for an email confirming your election to open your child’s Trump Account was processed. This will prompt you to complete account activation. During this initial roll out period, activation emails will come only from [email protected].
- Follow the instructions in the email to set up your child’s Trump Account to complete account activation steps through the Trump Accounts app (available in the Apple App Store and Google Play) or by visiting TrumpAccounts.gov.
- Beginning July 4, 2026, your child’s Trump Account will be able to accept contributions from parents, family members, employers, and other eligible contributors, subject to annual limits.
- Also starting July 4, 2026, eligible children will begin receiving the $1,000 pilot program contribution from the U.S. Department of the Treasury deposited directly to their Trump Account.
Next Steps if You Have Not Yet Set Up a Trump Account but Want To
Parents, guardians, and other authorized individuals can elect to open an account at any time by submitting IRS Form 4547, Trump Account Election(s), including enrollment in the pilot program.
- You can elect to open a Trump Account for an eligible child at any time during the year before the child turns 18. Visit TrumpAccounts.gov for the latest information about how to do so.
- There is no cost to open an account. Employers, charitable organizations, and governments can contribute free money to Trump Accounts, and your child can only receive those contributions if you open an account.
Erann Thompson
As a Principal and the Director of Advisory Services at Avizo, Erann collaborates closely with business owners to identify the optimal mix of accounting cloud applications, aiming to enhance efficiency and profitability for your business.
