U.S. Treasury Automatically Enrolls 60 Million Children in Trump Accounts
The U.S. Treasury automatically enrolled over 60 million American children under 18 into the Trump Accounts program, expanding investment access ahead of midterms.
More than 60 million American children under the age of 18 have been automatically enrolled in the Trump Accounts program, the U.S. Treasury Department told CNBC on Thursday. The Treasury unveiled the regulations enabling the automatic enrollment on Tuesday, and by Thursday the process was already complete. The move comes roughly a month before the U.S. midterm congressional elections.
Program Details and Restrictions
The Trump Accounts program was officially launched on July 4, marking the United States' 250th Independence Day. Under the initiative, parents can open investment accounts for any child with U.S. citizenship born during Donald Trump's second term (2025–2028), receiving an automatic $1,000 grant from the government. Accounts can also be opened for older children—as long as they turn 18 before the end of the calendar year—though they will not receive the $1,000 grant.
Funds deposited by the government, employers, corporations, and family members are invested in the stock market. Children will not have access to the money until they turn 18, and even then, only for specific purposes such as purchasing a home or paying for higher education.
"With the automatic enrollment, more than 60 million additional eligible children now have an account," said Treasury Secretary Scott Bessent.
Overcoming Barriers for Low-Income Families
Prior to the automatic enrollment, participation rates among lower-income brackets were relatively low. According to a Commonwealth survey, only 5% of low- and middle-income families had opened a Trump Account. The poll, which surveyed roughly 1,100 low- and middle-income parents with children aged 10 and under, found that fears of tax implications, impacts on public benefits, and an inability to make additional deposits were the primary obstacles.
While Treasury Secretary Scott Bessent noted that roughly 7 to 8 million children had registered voluntarily by mid-September, the automatic enrollment has dramatically expanded the reach. According to Commonwealth data, about 14.4 million children born between 2025 and 2028 are expected to qualify for the initial $1,000 federal funding, including 5.8 million children from low- and middle-income households.
Claiming Grants and Private Contributions
Under the new regulations, families must still actively choose to claim the government's initial grant if their children are eligible. To claim ownership of the account, parents or legal guardians must download the Trump Accounts app, verify their identity and relationship to the child, review the account details, and accept the terms.
The regulations also allow stock donations to the accounts. Additional funding is also flowing from private philanthropy. Dell Technologies CEO Michael Dell and his wife Susan have pledged $6.25 billion to provide an additional $250 grant to children born between 2016 and 2024 who reside in low-income areas.
