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. <\/p>\n
“As we approach 2 million forms, that will probably be about 3 million children,” Bessent said.<\/p>\n
The stop was part of the Trump Accounts Tour, following an earlier speech at the Economic Club of Dallas, where Bessent also plugged the accounts. <\/p>\n
“Programs like this often struggle with sign-ups,” Matt Lira, co-founder of Invest America, a nonprofit advocacy group, told CNBC in an interview. Invest America paid for the Trump account Super Bowl commercial and has been promoting the new investment accounts for children.<\/p>\n The early response from families “shows that the product market fit on the idea is strong,” he said.<\/p>\n The opening of tax season on Jan. 26 was the first opportunity for families to elect to open Trump accounts and claim seed money of up to $1,000 by filing IRS Form 4547 with their 2025 tax returns. <\/p>\n Less than two weeks later, following the Super Bowl on Feb. 8, Invest America announced in an X post that families could also start filing Form 4547 separately through TrumpAccounts.gov. <\/p>\n 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. <\/p>\n 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.<\/p>\n 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. <\/p>\n Parents, guardians and others can contribute up to $5,000 annually to Trump accounts until children turn 18 years old. <\/p>\n 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. <\/p>\n 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. <\/p>\nEligibility and Benefits<\/h2>\n
Account Setup and Contributions<\/h2>\n
Smart Tip for Readers<\/h2>\n