By The Wall Street Journal
A dedicated mobile app for Trump Accounts — the new tax-deferred investment accounts for American children created under President Trump’s One Big Beautiful Bill Act — is launching this week, bringing the program one step closer to its official July 4 funding date.
The U.S. Department of the Treasury designated Bank of New York Mellon as the financial agent to manage the initial accounts, with BNY partnering with Robinhood to develop the Trump Accounts app and provide customer service. Redfin
Trump Accounts are a new custodial-style investment account for U.S. citizens under the age of 18 with a valid Social Security number, owned by the child but administered by a parent or guardian until the child turns 18. Review Journal
Enacted under President Trump’s One Big Beautiful Bill, the accounts will officially launch for deposits on July 4, 2026 — the country’s 250th anniversary. Children born between January 1, 2025, and December 31, 2028, are eligible to receive a one-time $1,000 seed contribution from the U.S. Treasury. Review Journal
Investments are limited to low-cost index mutual funds or ETFs with a 0.10 percent expense cap and no leverage, designed to promote long-term broad market exposure with minimal complexity. Traditional IRA rules apply once the child turns 18. Review Journal
Here is what families need to know about contributions and limits:
Parents, family members, and others can contribute up to $5,000 per year per child after July 4, 2026, with that limit indexed to inflation after 2027. Employers may contribute up to $2,500 per year on a pretax basis for employees’ children. Street Insider
About 5 million children have already been signed up for Trump Accounts, with 1.2 million of them eligible for the $1,000 Treasury pilot contribution, according to Treasury Secretary Scott Bessent. More than 58 entities have pledged matching contributions, including JPMorgan Chase, Robinhood, Nasdaq, SoFi, Block Inc., and Galaxy Digital, among others. Review JournalZillow
How to open an account:
The simplest path to open an account and claim the $1,000 is to file IRS Form 4547 with a 2025 tax return or use the online portal at TrumpAccounts.gov, which is now live and accepting submissions. Street Insider
Submitting the election does not immediately open or fund the account — it reserves the election. Families should watch for activation instructions from the Treasury, with the $1,000 deposit expected to arrive after July 4 once eligibility is confirmed and the account is activated. PR Newswire
Once activated, the child’s funds will be automatically invested in American companies, with the app allowing parents to see exactly what stocks their child owns and how they are performing. 8 News Now