Trump Account
see Trump Account
The Trump Account is designed to give children in the United States a financial head start.
How it works
- The federal government will make a one-time $1,000 contribution for each eligible child.
Who is eligible?
- Children born between January 1, 2025, and December 31, 2028
- Must be a U.S. citizen
- Must have a Social Security number
Access to the money
- No withdrawals are allowed before age 18.
Tax Treatment
- These accounts are treated like a Traditional IRA.
- If money is withdrawn before age 59½, normal early-withdrawal rules and penalties may apply.
