Trump Accounts FAQ: How Parents Can Enroll for 2026 Pilot

Parents should act quickly to enroll eligible children in the Trump Accounts pilot under the IRS’ Form 4547 deadline tied to the 2025 tax return. Any child under 18 with a U.S. citizen SSN and opened by an authorized guardian qualifies. A one-time $1,000 federal contribution is available for children born Jan 1, 2025–Dec 31, 2028, provided the account is opened and the child is claimed as a dependent. Authorization must be via a guardian or parent; the account opens through an authentication process after Form 4547 is submitted. The first pilot deposits are expected no earlier than July 4, 2026. Parents will receive a trustee-to-trustee rollover portal starting in May 2026 to transfer balances to their preferred brokerage. Eligible contributions include employer (up to $2,500/year, indexed), family/friend (no deduction), and state, nonprofit, and philanthropic gifts (not counted toward the $5,000/year limit for family + employer). Funds must be invested in low-cost, broadly diversified U.S. index ETFs or mutual funds (≤0.10% expense ratio). Withdrawals are generally allowed at 18 for college or first home without penalty; earlier withdrawals may incur a 10% penalty for non-qualified expenses. <category>Macro</category>