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3 million kids registered for Trump accounts
Posted on 2/20/26 at 9:23 pm
Posted on 2/20/26 at 9:23 pm
quote:CNBC
On the heels of a massive publicity push, including a Super Bowl 60 ad and a billboard in New York’s Times Square, families have filed about 2 million forms to open Trump accounts, Treasury Secretary Scott Bessent said at an event near Dallas on Friday.
“As we approach 2 million forms, that will probably be about 3 million children,” Bessent said.
The stop was part of the Trump Accoun
5
Posted on 2/21/26 at 12:48 am to bigjoe1
3,000,003. Did mine today.
Posted on 2/21/26 at 10:04 am to TheBoo
3 new millionaire's in the making 
Posted on 2/21/26 at 10:59 am to bigjoe1
Explain to me how this Trump account works? Is it like a saving account for the kid till they turn 18?
Posted on 2/21/26 at 11:05 am to Double Oh
From the article[quote]Any parent or guardian can set up an account for a child under 18, but only children born between 2025 and 2028 are eligible for the one-time $1,000 contribution from the Treasury.
After filing Form 4547, families will be contacted by a “trustee” with further details to complete the account setup, according to TrumpAccounts.gov. The authentication process is expected to begin in May, according to Treasury guidance from December.
Once an account is established, the federal government’s $1,000 seed funding will be available in Trump accounts on July 4, a Treasury spokeswoman previously told CNBC.
Parents, guardians and others can contribute up to $5,000 annually to Trump accounts until children turn 18 years old.
A growing number of companies have pledged to match the Treasury’s initial deposit for the children of employees. Employers can deposit up to $2,500 as part of the $5,000 limit.
Other kids may qualify for philanthropist gifts to Trump accounts, depending on income and where they live. Gifts facilitated by the Treasury won’t count toward the $5,000 contribution limit, Lira from Invest America told CNBC.
After filing Form 4547, families will be contacted by a “trustee” with further details to complete the account setup, according to TrumpAccounts.gov. The authentication process is expected to begin in May, according to Treasury guidance from December.
Once an account is established, the federal government’s $1,000 seed funding will be available in Trump accounts on July 4, a Treasury spokeswoman previously told CNBC.
Parents, guardians and others can contribute up to $5,000 annually to Trump accounts until children turn 18 years old.
A growing number of companies have pledged to match the Treasury’s initial deposit for the children of employees. Employers can deposit up to $2,500 as part of the $5,000 limit.
Other kids may qualify for philanthropist gifts to Trump accounts, depending on income and where they live. Gifts facilitated by the Treasury won’t count toward the $5,000 contribution limit, Lira from Invest America told CNBC.
Posted on 2/21/26 at 11:07 am to bigjoe1
quote:
From the article[quote]Any parent or guardian can set up an account for a child under 18, but only children born between 2025 and 2028 are eligible for the one-time $1,000 contribution from the Treasury.
After filing Form 4547, families will be contacted by a “trustee” with further details to complete the account setup, according to TrumpAccounts.gov. The authentication process is expected to begin in May, according to Treasury guidance from December.
Once an account is established, the federal government’s $1,000 seed funding will be available in Trump accounts on July 4, a Treasury spokeswoman previously told CNBC.
Parents, guardians and others can contribute up to $5,000 annually to Trump accounts until children turn 18 years old.
A growing number of companies have pledged to match the Treasury’s initial deposit for the children of employees. Employers can deposit up to $2,500 as part of the $5,000 limit.
Other kids may qualify for philanthropist gifts to Trump accounts, depending on income and where they live. Gifts facilitated by the Treasury won’t count toward the $5,000 contribution limit, Lira from Invest America told CNBC.
Thank you sir
Posted on 2/21/26 at 12:00 pm to bigjoe1
Dang had my last kid at the end of Biden’s term. No seed money for us. I’ve already started on 529s though
Posted on 2/21/26 at 3:37 pm to Upperdecker
quote:
Dang had my last kid at the end of Biden’s term. No seed money for us. I’ve already started on 529s though
If you live in a zip code with median HH income below $150k, any kid under 10 born before 2025 qualifies for the $250 seed money from Michael and Susan Dell.
This post was edited on 2/21/26 at 3:40 pm
Posted on 2/21/26 at 4:25 pm to PhiTiger1764
quote:
If you live in a zip code with median HH income below $150k, any kid under 10 born before 2025 qualifies for the $250 seed money from Michael and Susan Dell.
Not bad I’ll give it a shot
Posted on 2/21/26 at 7:25 pm to bigjoe1
I plan to register when I file taxes. I have two kids plus one on the way.
It is also an interesting perk to offer to our employees.
It is also an interesting perk to offer to our employees.
Posted on 2/22/26 at 8:59 am to bigjoe1
What's the benefit here if your kids don't qualify for the $1,000? It appears we are putting after tax money in an account that then gets taxed again when it's taken out. Are we planning on Roth conversions with this money once the kids hit 18? And if so, what kind of taxes are the kinds looking at? Or do they roll this money into an employee sponsored 401K once they start working?
Posted on 2/22/26 at 9:41 am to PhiTiger1764
quote:
only children born between 2025 and 2028 are eligible for the one-time $1,000 contribution from the Treasury.
Well frick.
quote:
If you live in a zip code with median HH income below $150k, any kid under 10 born before 2025 qualifies for the $250 seed money from Michael and Susan Dell.
Well frick again.
Posted on 2/22/26 at 12:00 pm to NewIberiaHaircut
quote:
Are we planning on Roth conversions with this money once the kids hit 18?
I think that's the only benefit if you aren't eligible for the seed money. It's taxed their regular income rate which will be low at 18. So assuming no other income you could convert up to the standard deduction and it will be essentially "tax free".
We don't have eligible kids so we're sticking to the LA START/529 account.
Posted on 2/22/26 at 1:00 pm to KamaCausey_LSU
quote:
It's taxed their regular income rate which will be low at 18. So assuming no other income you could convert up to the standard deduction and it will be essentially "tax free".
What about the kiddie tax? It wouldn’t make it tax free then would it? I have 529s set up so I’ve been using those. If I want to do more than that I was thinking a UTMA account. I’m concerned people are just jumping on this because of the Trump branding without thinking it through.
Posted on 2/22/26 at 2:06 pm to NewIberiaHaircut
quote:
What's the benefit here if your kids don't qualify for the $1,000? It appears we are putting after tax money in an account that then gets taxed again when it's taken out.
~22 years of growth before a college attending kid earns a single corporate dollar?
Posted on 2/22/26 at 2:15 pm to NewIberiaHaircut
quote:
I’m concerned people are just jumping on this because of the Trump branding without thinking it through.
It's a program created for political notariety, so yeah.
Posted on 2/22/26 at 8:34 pm to LemmyLives
quote:
~22 years of growth before a college attending kid earns a single corporate dollar?
Sure, and then what? I guess that’s really where I’m confused. What happens then and what do the taxes look like? If it’s taxed to hell then is there a more tax efficient way to accomplish the same thing.
Posted on 2/22/26 at 9:45 pm to LemmyLives
quote:So what’s the advantage over a UTMA ?
~22 years of growth before a college attending kid earns a single corporate dollar?
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