Over 6 million children enrolled in Trump Accounts program

Investing.com -- More than 6 million American children have been enrolled in Trump Accounts as of mid-June, the U.S. Department of the Treasury reported. The accounts are set to officially launch on July 4.

Parents and guardians have opened accounts for beneficiaries by completing IRS Form 4547 with their 2025 tax return or through TrumpAccounts.gov. The Census Bureau data from 2024 shows that roughly 73.1 million children under age 18 lived in the United States, indicating that millions more remain eligible for enrollment.

About 1.4 million children enrolled in the program qualify for the $1,000 seed money from Treasury, according to published data.

The accounts are available to any U.S. child under 18 with a Social Security number. The program includes a one-time $1,000 contribution from Treasury for babies born between 2025 and 2028.

Tech CEO Michael Dell and his wife, Susan, committed $6.25 billion to provide an additional $250 for children born between 2016 and 2024 who live in ZIP codes where the median income is $150,000 or less.

The accounts can receive contributions from family, friends or employers, and funds grow tax-deferred.

Treasury Secretary Scott Bessent previously said the program aims to have philanthropists, charities or local governments in every state contribute funds as part of a "50-state challenge." Some philanthropists in certain states have pledged to seed accounts for qualifying families.

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