The Social Security Administration announced it will include information about Trump Accounts — tax-advantaged investment accounts for children — with Social Security cards issued to newborns through the agency's Enumeration at Birth program.
Eligible children born between January 1, 2025, and December 31, 2028, are eligible for a one-time $1,000 contribution from the U.S. Department of the Treasury. According to the SSA, nearly 70 million Trump Accounts are open for eligible children, and 26 million accounts have already received contributions.
The printed insert directs parents and guardians to download the Trump Accounts app and sign up through the official application. Parents will then receive separate communications from the Treasury Department with instructions on activating the account and receiving the $1,000 contribution if eligible. Once claimed, the account can be managed by the responsible party or custodian, and additional contributions can be made subject to applicable limits. Friends, family, and employers can also contribute to accounts once they are claimed.
When a child turns 18, the Trump Account becomes a traditional retirement account.