02/11/2026
💵💹Trump Accounts (Section 530A) – FAQs
What is a Trump Account?
A Trump Account is a new tax-advantaged savings account created under the One Big Beautiful Bill Act (OBBBA) for eligible children. It’s designed to help children build long-term savings and later functions like an IRA once the child turns 18.
📌Who can open a Trump Account?
✅ Any child under age 18 with a valid Social Security number can have a Trump Account opened for them.
📌Who qualifies for the $1,000 government contribution?
💡 Only children born between January 1, 2025 and December 31, 2028 qualify for the one-time $1,000 tax-free government contribution under the IRS pilot program.💵💵
‼️Children born outside of these years may still open an account, but will not receive the $1,000 contribution.
📌When can contributions start?
Contributions can begin July 4, 2026.
📌How much can be contributed each year?
During the growth period (before age 18), contributions are generally limited to $5,000 per year (adjusted for inflation after 2027). Certain government or employer contributions may not count toward this limit.
📌Can money be withdrawn before age 18?
Generally, no. Distributions are restricted during the growth period to encourage long-term savings.
📌How do I open a Trump Account?
An election must be made using IRS Form 4547 filed with 2025 Tax Return or a future IRS online tool. The account is created by the U.S. Treasury, with activation details expected in 2026.
📌Does this create a tax deduction?
No. Contributions are not tax-deductible.
👉 Have questions about eligibility or how this applies to your tax situation? Message me directly — I’m happy to help.🙋♀️
📍This information is provided for general educational purposes only