Trump accounts sign up about 3 million kids in early push
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 Accounts Tour, following an earlier speech at the Economic Club of Dallas, where Bessent also plugged the accounts.
“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.
The early response from families “shows that the product market fit on the idea is strong,” he said.
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.
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.
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.
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