US Edition
Jill On Money: 'Trump Accounts' — What You Need to Know
Every eligible child will receive a $1,000 federal seed contribution to a new investment account designed to encourage long-term savings and private contributions.
- The U.S. Treasury will launch accounts on July 5, 2025, created and administered by the Treasury with a yet-unnamed partner firm as custodian.
- Legislation passed last summer established the accounts as long-term savings vehicles, with children born 2025–2028 qualifying and a $1,000 seed provided after authentication and account setup. The U.S. Treasury launched the program via the One Big Beautiful Bill Act, requiring a Social Security number.
- To open an account, parents can file IRS Form 4547 online at trumpaccounts.gov or with their 2025 tax return; contributions from individuals, employers, governments, philanthropists, and charities face a $5,000 annual cap.
- Rules on withdrawals remain unclear, with IRS guidance allowing distributions on January 1 of the year the child turns 18, but this may change to the child's 18th birthday, leaving timing unsettled.
- Major pledges include a $6.25 billion commitment from Michael and Susan Dell and contributions from firms like JPMorgan Chase, expanding private support.
15 Articles
15 Articles
Trump Accounts promise opportunity but reinforce inequality
When President Donald Trump launched his new “Trump Accounts” for babies, he surrounded himself with billionaires, big banks and a surprise guest: rap star Nicki Minaj. Minaj has pledged hundreds of thousands of dollars, reported between $150,000 and $300,000, to fund Trump Accounts for her fans’ children, the so-called “Barbz babies.” But Trump Accounts are political fool’s gold: shiny and celebrity-studded on the surface, structurally designed…
Bulletin-Review
Jill On Money: 'Trump Accounts' — What you need to know
Recently the Administration went on a PR junket to highlight the newly established “Trump Accounts.” These accounts were created when the One Big Beautiful Bill Act passed last summer, and they establish a long-term savings vehicle for every American child…
Crypto Exchange Kraken Pledges Support for “Trump Accounts” in Wyoming
Crypto exchange Kraken has announced a commitment to support the new U.S. federal savings program known as Trump Accounts by sponsoring these accounts for every child born in Wyoming in 2026. The move places Kraken at the intersection of digital asset innovation and long‑term savings policy, and marks a notable moment where a major crypto firm publicly aligns with a federally backed financial initiative. The Trump Accounts program is a tax‑adva…
Treasury teases update to Trump accounts
Treasury Secretary Scott Bessent said Thursday that an update to the Trump Accounts program is coming, following a White House summit with the president and rapper Nicki Minaj. The announcement drew instant attention for its policy stakes and its unusual guest list. Officials did not release specifics, leaving key questions on scope, timing, and cost. The brief statement came after the closed-door meeting in Washington. No fact sheet or rule tex…
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