Here’s what you need to open a Trump Account
Editorial staff, J.P. Morgan Wealth Management
- To open a Trump Account, you’ll need the child's Social Security number (SSN) and date of birth, plus your own SSN, date of birth and contact information.
- You can file IRS Form 4547 at any time to open a Trump Account, including when filing your income tax return. The election to open an account must be made by December 31 of the year in which the child turns 17.
- Children born between 2025 and 2028, who are U.S. citizens with a valid SSN, may qualify for a one-time $1,000 federal “seed” deposit, but you must explicitly elect it on Form 4547.
Trump Accounts are tax-advantaged investment accounts available to any child with a valid Social Security number (SSN) who does not have a prior Trump Account, so long as the account is opened by December 31 of the year the child turns 17. In addition, babies born between January 1, 2025, and December 31, 2028, who are U.S. citizens with a valid SSN are eligible for a one-time $1,000 seed deposit from the federal government (a pilot program).
To open a Trump Account for a child, you must provide contact information, plus dates of birth and SSNs for both yourself and the child. You can file IRS Form 4547Opens overlay to open the account and elect the pilot program contribution, or you can create an account on the IRS websiteOpens overlay. You can open one Trump Account per child. Once open and activated, you can use the Trump Accounts: Official App to manage it.
Whoever opens a Trump Account is considered the “authorized individual” or “responsible party” for the account until such time as the beneficiary assumes control after the growth period.
If the election to open the initial Trump Account is made at the same time as the election to receive a pilot program contribution on Form 4547, then the same person authorized to make the pilot contribution election is also authorized to open the initial Trump Account and is deemed the authorized individual (or responsible party) to manage the account for the beneficiary/child. However, if the initial Trump Account is opened at a different time than the election for the pilot program, the authorized individual/responsible party must be, in priority order: legal guardian, parent, adult sibling or grandparent of the eligible individual. If multiple people share the highest-available priority level and no prior election has been made, any one of them may make the election – for example, either parent may do so if there is no legal guardian.
Why open a Trump Account?
Trump Accounts are designed to help children start building wealth for their future. Created under the One Big Beautiful Bill Act, Trump Accounts allow up to $5,000 in annual contributions (indexed for inflation after 2027) through the end of the growth period (defined as ending December 31 of the year before the child turns 18). Employers can also contribute up to $2,500 per year per employee (indexed for inflation after 2027), though this counts against the $5,000 annual limit. The employer contributions do not count toward the employee’s taxable income.
One of the biggest benefits of a Trump Account is the $1,000 government seed deposit available to children born between 2025 and 2028 who are U.S. citizens with a valid SSN.
The money in a Trump Account could grow to become a meaningful amount with enough time. For example, and hypothetically speaking, a $1,000 opening deposit at birth with $5,000 annual contributions for 18 years with a 10% return rate compounded annually could become $233,000. Below you can see hypothetical situations based on different ages and contribution amounts. (Actual returns will vary based on market performance.)
Projected growth of a Trump Account (hypothetical)
The above is a hypothetical example for illustrative purposes only and should not be relied upon in making an investment decision. These examples do not reflect actual or future performance results of any specific vehicle and are based solely on the hypothetical illustration cited. Assumed starting amount is $1,000 at birth. Assumed hypothetical annual rate of return is 10%, not adjusted for inflation, and compounded annually. Investing involves risk, including loss of principal.
During the growth period, the money may be invested in broad U.S. equity index funds that have no leverage and expense ratios of 0.1% or less. As of July 2026, and subject to limited exceptions for cash, no other investments are permitted, including sector-specific funds.
At launch, all contributions to Trump Accounts held at the Treasury-appointed initial trustee will be invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM). In the coming months, the Treasury expects to allow authorized individuals to allocate across four additional ETFs, though timing of their availability is pending as of July 20, 2026. If the Trump Account is rolled over to another Trump Account at a different financial institution, investment options may change.
Generally speaking, the child can assume ownership of the account after the growth period when they reach the applicable age of majority (18 in almost all states). After the growth period, the Trump Account is generally subject to traditional IRA rules regarding contributions, investments, and withdrawals and taxation – including the potential for an early withdrawal tax on distributions taken before age 59½ unless an IRS exception applies.
Required documents and information to open a Trump Account
Opening a Trump Account through the Treasury doesn’t require a lot of paperwork, but you’ll want to have the following on hand before you fill out any forms:
- The child’s personal information: You’ll need to provide the child’s full legal name, date of birth, address and SSN. The SSN must be valid for employment and issued before you submit the form. If the child’s card says “Not Valid for Employment,” contact the Social Security Administration (SSA) to update their status first.
- Your personal information: The adult filling out the form will also provide their full legal name, SSN, current mailing address, phone number and email address. Your name must appear on the form exactly as it does on your Social Security card. If you’ve recently changed your name due to marriage or divorce, update your records with the SSA first. To claim the $1,000 government seed deposit for the child, you must anticipate that the child will be your “qualifying child” for the tax year in which the election to receive the contribution is made. Please contact your tax professional with any questions.
Learn how Trump Accounts can support your child’s future
Build lasting financial security for your child with a tax-advantaged Trump Account and help them save for retirement and other future goals.
How to open a Trump Account
Opening a Trump Account is a fairly straightforward process, especially if you do it through the IRS Trump Accounts pageOpens overlay. The election to open an account must be made by December 31 of the year in which the child turns 17.
Here are the general steps to open a Trump Account:
- Fill out IRS Form 4547 or sign up on the IRS website: Fill out IRS Form 4547Opens overlay or sign up on the IRS websiteOpens overlay with the adult’s and child’s information. The IRS says Form 4547 can be, but does not have to be, filed with a tax return. Name, SSN, date of birth and home address are all required for both the adult and the child on either form. The adult’s phone number and email address are also required. If the child was born between 2025 and 2028, and is a U.S. citizen with a valid SSN, you may be able to check Line 7 of IRS Form 4547 to ensure they receive the $1,000 government seed deposit.
- Verify the information: Review all the information carefully before submitting or mailing the form. This information is what creates the account with the Treasury.
- Download the Trump Accounts: Official App: You can download the app from TrumpAccounts.gov or through an app store. You must complete Form 4547 before you can sign up for the app. Once the form is complete, you can sign up for the app with the email address you used to sign up for the Trump Account. Once you sign up with your email, a password and your phone number, you can sign up for notifications to get updates on your child’s Trump Account.
- Activate the account: Once the information is accepted, the Treasury Department or its agent will send you information via email to finish activating your child’s Trump Account via the app. Keep an eye out for emails from this address: no-reply@TrumpAccounts.Treasury.gov.
Once the account is opened, trustee-to-trustee transfers (also known as “Trump Account rollovers”) are allowed, but only during the growth period when they are made to another Trump Account for the same beneficiary. The rollover must be a full transfer – partial transfers are not permitted. The trustee-to-trustee transfer is a non-taxable event.
What happens to the Trump Account after the end of the growth period?
After the growth period, defined as ending December 31 of the year before the child turns 18, the Trump Account is generally subject to traditional IRA rules. Generally speaking, the beneficiary (the child) can assume control of the account when they reach the applicable age of majority (18 in almost all states), and they can contribute money to the account subject to IRA rules, let the account continue to potentially grow with no additional contributions, or take distributions subject to traditional IRA rules.
Just be mindful: After the growth period ends and until the beneficiary (the child) is 59½ years old, distributions incur a 10% early withdrawal tax unless the distribution qualifies for an IRS exception. After age 59½, distributions are not subject to the early withdrawal tax. Read IRS Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs)Opens overlay for more information.
The bottom line
Opening a Trump Account is a relatively straightforward process since all you have to provide is some basic personal information for both the child and yourself. You’ll need the full legal names, SSNs and dates of birth for you and the child who is the beneficiary of the account, as well as your home address, phone number and email address.
The fastest way to get started is through the IRS website, where you can sign up and submit the required info. You can also file IRS Form 4547. Once opened and activated, you can manage the child’s Trump Account via the Trump Accounts: Official App.
Frequently asked questions about opening a Trump Account
Trump Accounts are tax-advantaged investment accounts available to any child with a valid SSN who does not already have a Trump Account, so long as it is opened by December 31 of the year the child turns 17. Children born between 2025 and 2028, who are U.S. citizens and have a valid SSN may also qualify for the $1,000 government seed deposit. If you are the child’s legal guardian, parent, adult sibling or grandparent, you can open a Trump Account on behalf of the child via the IRS websiteOpens overlay. There is a limit of one Trump Account per child.
To open a Trump Account, you’ll need dates of birth and SSNs for you and your child, plus your home address, phone number and email address. Your name must match what appears on your Social Security card. If your child was born recently, make sure their SSN has been issued and is valid for employment before you file. Also, make sure your legal name matches across documents before you file.
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Editorial staff, J.P. Morgan Wealth Management
