HOUSTON, Texas – Millions of families may be eligible for a free $1,000 gift from the federal government to help their children start saving for the future.
A separate $250 gift is also up for grabs.
Follow these simple steps to find out if you qualify and how to apply.
Who qualifies for a Trump kids’on savings account?
- Children must be U.S. citizens born between January 1, 2025, and December 31, 2028.
- The child must have a valid Social Security number.
- Families of any income can open an account, but the $1,000 government gift is only for eligible children born on the specified dates.
- Children older than 18 or born outside the date range can still have accounts opened, but won’t receive the $1,000 gift.
How to open a Trump kids’ savings account:
- Parents or guardians must fill out IRS Form 4547 to open an account on behalf of their child.
- On the form, request the $1,000 government contribution for eligible children.
- Submit the form as instructed by the IRS or the Treasury Department.
- Wait for instructions from the Treasury Department on how to activate the account, expected in May 2026.
When can you open and contribute to the account?
- Accounts can be opened starting in early 2026.
- Families can begin making contributions on July 4, 2026.
- The government’s $1,000 gift is a one-time contribution at account opening.
Contribution limits and rules:
- Families can contribute up to $5,000 per year per child, excluding the government’s $1,000 gift.
- Employers can contribute up to $2,500 per year tax-free to an employee’s Trump account, counting toward the $5,000 limit.
- Contributions must be invested in broad stock market index funds (e.g., S&P 500).
- Money generally cannot be withdrawn before the child turns 18.
Additional help from the Dell family:
- Michael and Susan Dell will deposit $250 into accounts for children 10 and younger who live in ZIP codes with a median family income of $150,000 or less.
- To qualify for the Dell gift, children must have a Social Security number, be 10 or younger, and born before January 1, 2025.
- This includes about 80% of ZIP codes in Texas.
Enter your zip code in this map to see if you qualify
What can the money be used for?
- When children turn 18, they can withdraw the money for education, buying a home, or starting a business.
Potential growth of the account:
- Without additional contributions, the $1,000 gift could grow to about $4,700 by age 18.
- With monthly contributions of $50, the account could grow to around $29,000 by age 18.
Where to find more information:
- Visit trumpaccounts.gov for updates and details.
- More information will be released on December 17, 2025.
- The Treasury Department and IRS will provide guidance and instructions next year.
Of course, there are other savings options, like 529 college savings plans or other accounts that may offer better tax advantages or flexibility.
The biggest benefit of the Trump account is the free $1,000 from the government.