10/30/2026
I’ve been getting a lot of questions about “Trump Accounts,” so here’s the quick version.
Regardless of how you feel about the current President, if you have a child born in 2025 or 2026, you should seriously consider opening or claiming their Trump Account. It’s free money for your kiddo.
What is it? A tax-advantaged investment account for children, created by last year’s tax law. It works a lot like an IRA, but for kids.
The $1,000: The U.S. Treasury will deposit a one-time $1,000 into the account for kids who are U.S. citizens with a Social Security number and were born between January 1, 2025 and December 31, 2028. You have to open the account to get it. The government has opened accounts for most children born in 2025 but you still need to claim it.
Older kids? Any child under 18 can have an account. They just don’t get the $1,000 seed money.
Adding to it: Parents, grandparents, friends, and even employers can contribute up to $5,000 per year. Contributions opened July 4th of this year. Some employers are offering contributions as a benefit, so ask your HR department.
How to sign up: File IRS Form 4547 (you can include it with your tax return) or go to trumpaccounts.gov.
There's also an app.
Is it the right savings vehicle for every family? Not necessarily. Depending on your goals, a 529 plan, a custodial account, or a Roth IRA for a working teen might be a better fit for your extra dollars. But claiming the free $1,000 is a no-brainer.
Questions? Send me a message or reach out to me at Forward Financial Services!
