Nearly 70 million U.S. children had Trump Accounts by Oct. 20, but families seeking a federal $1,000 contribution must make a separate election through the Internal Revenue Service.
The Social Security Administration (SSA) said nearly 70 million accounts were open for eligible children as of Oct. 20. It also reported contributions to 26 million accounts, without specifying how many included the federal deposit. The U.S. Department of the Treasury said Oct. 1 it had completed its initial automatic enrollment, with accounts ready to claim for more than 60 million additional eligible children.
An account created automatically still needs to be claimed and activated before a parent or guardian can manage it. Families can check for an account through the official app or website and verify their identity and authority to manage it. The Internal Revenue Service (IRS) advises checking the child’s name, Social Security number and birth date against SSA records. The agency says a child can qualify for an account with a valid Social Security number if the child will not turn 18 before the end of the year the account is established.
The separate $1,000 contribution is for eligible U.S. citizens born from Jan. 1, 2025, through Dec. 31, 2028, who have valid Social Security numbers. The responsible adult must file Form 4547 and select the pilot-program contribution option. The form is available through the app, the Trump Accounts website or an IRS Individual Online Account.
Form instructions say the child must be expected to meet the electing adult’s qualifying-child test for that year, and that an earlier pilot-program election must not have been processed for the child. The federal contribution goes into the child’s account.
Trump Accounts are tax-advantaged investment accounts for children created under the Working Families Tax Cuts. The program launched July 4, 2026. A Treasury and IRS temporary rule published Sept. 30 described commenters’ concern that requiring families to opt in could reduce participation, particularly among people who do not file tax returns and households with less time or fewer resources.
