Update on Trump Accounts – Automatic Enrollment

Do you have a child under the age of 18? They most likely have a Trump Account now, whether or not you signed them up for one. The US Department of Treasury recently began automatically enrolling eligible children in the program rather than waiting for parents or guardians to apply. Even though your child may have been automatically enrolled, however, you must take affirmative action to activate the account.

Wait, what’s a Trump Account?

Trump Accounts came into being when Congress passed tax reform legislation (OBBBA) in July 2025 that in part, created a tax-advantaged IRA account designed specifically for children. Read our April 2026 article for a refresher on the details of Trump Accounts.

Why automatic enrollment?

At the time the OBBBA was passed, it was estimated that 73.37 million children would be eligible for the Trump Accounts program. Many donors and policymakers wanted enrollment in the program to be automatic because they feared that relying on parents and guardians to opt-in to the program would result in limited participation. However, the Treasury and the IRS believed that strict federal rules protecting the confidentiality of tax return information created a legal hurdle to opening accounts without direct opt-in actions. Thus, when they released regulations on the administration of Trump Accounts in March 2026, there was no provision for automatic enrollment.

Between July 1, 2026, the first day one could apply for the accounts, and September 15, 2026, the IRS had processed fewer than 8 million Trump Account enrollment forms (IRS Form 4547). These enrollment numbers represented less than 10 percent of eligible children and validated the concern that an opt-in requirement would limit participation. Low enrollment combined with increasing pressure from researchers, philanthropists, and organizations like the American Institute of Certified Public Accountants, led the Treasury Department to develop a structure that would allow automatic enrollment while avoiding disclosure of taxpayer information. The new structure allowed the Treasury Department to issue temporary regulations on September 29, 2026, permitting automatic enrollment for eligible children.

How many children were automatically enrolled?

On October 1, 2026, the Treasury announced that they had completed automatic enrollment of more than 60 million additional children. Now, every eligible child under the age of 18 with a valid Social Security number has a Trump Account. Automatic enrollment will continue going forward.

Now what?

Although many children have now been automatically enrolled, a parent or guardian must still activate their child’s new Trump Account so they can manage the account, make contributions, and allow family members, friends, and employers to contribute.

The Treasury assigned Bank of New York Mellon as the trustee to handle the accounts until a parent or guardian claims the account and assumes control. All Trump Account funds are currently invested in SPYM, an index fund that tracks the S&P 500. Account holders can’t select a different investment option right now, though the government says additional investments are expected to be added in the future.

How do I claim my child’s Trump Account?

To claim your child’s Trump Account:

1. Download the official Trump Accounts mobile app (available for iOS and Android). The Treasury also has a web-based option at https://trumpaccount.com
2. Sign in or verify your identity using ID.me by providing required personal details.
3. Verify your legal relationship to or guardianship of the child.
4. Review the child’s information, including their Social Security number and date of birth.
5. Accept the account terms to activate management rights.

What do I need to know about the government’s $1,000 seed deposit?

Children born from 2025 through 2028 may be entitled to a one-time contribution (seed deposit) of $1,000 from the government. In the process of claiming your child’s Trump Account, you must request the seed deposit. Children are eligible if they meet the following requirements:

• The child was born between January 1, 2025, and December 31, 2028,
• Is your qualifying child for the tax year,
• Is a US citizen, and
• Has a valid Social Security number.

Is my child eligible for any other government or philanthropic contributions?

Even if you haven’t activated your child’s account, the account can receive contributions from philanthropic groups. Existing accounts can automatically capture anything they may be eligible for. For example, the Michael and Susan Dell Foundation will make a $250 contribution to children born between 2016 and 2024 who live in a US ZIP code with a Median Family Income of $150,000 or less.

What happens if I don’t claim my child’s account?

If a parent or guardian doesn’t claim a child’s account, it will remain available to be claimed at any time by a parent or guardian, or by the child in the year they turn 18. You cannot view the balance, track investments, or allow family members to make additional contributions unless you have claimed the account, however.

How to avoid Trump Account scams

Trump Accounts involve the government handing out free money, so related scams are going to pop up like Sonoran toads after a good desert rain. Scammers will likely impersonate Treasury officials, the IRS, or financial institutions as they try to win your trust. While the Treasury and authorized providers may legitimately contact you by email, text, or automated phone call, they won’t ask you to provide passwords or personal account information through these messages.

If something seems suspicious or you receive an unsolicited message, don’t follow the link or call the phone number provided. Instead, go directly to TrumpAccounts.gov or the official app you opened. You can also use the official Trump Account support number at 866-872-4547.

We think it is a good idea to claim your child’s Trump Account if only to capture the contributions they may be automatically eligible for. If you have questions about these accounts or need some help claiming your child’s account, please feel free to contact one of our tax professionals. We love hearing from you!