Altimeter Capital Founder, Chairman and CEO Brad Gerstner discusses the benefits of Trump Accounts for children on ‘Mornings with Maria’.
More than four million children are enrolled in newly created Trump Accounts, the Internal Revenue Service (IRS) said Tuesday, marking a major rollout of the administration’s savings initiative.
In addition, the IRS said more than a million children are eligible for the $1,000 contribution to the Trump Accounts pilot program.
Trump Accounts were created last year under the One Big Beautiful Bill Act and contributions can begin on July 4, 2026.
“The IRS has worked closely with the Treasury Department to make the election process as simple and convenient as possible by allowing taxpayers to fill out a one-page form when they file their tax returns,” IRS CEO Frank J. Bisignano said in a statement. “Families with eligible children born between 2025 and 2028 simply need to check the box on a form to submit their claim for the $1,000 contribution. It’s that simple.”
IRS REVEALS PROPOSED RULES FOR NEW TRUMP ACCOUNTS SAVINGS PROGRAM
A screenshot of the Trump Accounts homepage. (White House)
The new data is based on the number of Form 4547, “Trump Account Election(s)” filed on individual tax returns to date, according to the IRS.
To create a Trump Account and enroll in the pilot program with their 2025 tax returns, parents can complete IRS Form 4547.
The accounts will be available to every American child born between January 1, 2025 and December 31, 2028, and will include a starting contribution of $1,000 invested in an index fund. They can be created for anyone who has not yet turned 18 before the end of the calendar year in which the election takes place and has a valid citizen service number.
Each account is in the child’s name and is managed by the parents until the child reaches the age of 18.
TRUMP ADMIN Proposes Opening 401(K)S for PRIVATE EQUITY, CRYPTO
President Donald Trump speaks on stage at Verst Logistics on March 11, 2026 in Hebron, Kentucky. (Andrew Harnik/Getty Images/Getty Images)
Although no contributions are required, a maximum of $5,000 can be deposited into the accounts annually.
The U.S. Treasury Department previously estimated that Trump bills could deliver significant savings if families maximize their contributions and grow the funds.
For example, according to the Treasury Department’s Office of Tax Analysis, a fully funded account at age 28 could be as much as $1.9 million. At the lower end of expected returns, the account could still earn nearly $600,000 over the same period.
TRUMP APPOINTS DAVID SACKS CO-CHAIRMAN OF TECH ADVISORY COUNCIL, AI EXPANSION, CRYPTO ROLE
President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, DC, on Wednesday, January 28, 2026. (Valerie Plesch/Bloomberg via Getty Images/Getty Images)
Without additional contributions beyond the initial $1,000 deposit from the federal government, it is estimated that the account could grow between $3,000 and $13,800 over 18 years.
According to the IRS, children can receive contributions from parents, relatives, friends, employers, state governments and philanthropic organizations.
Since the Trump Accounts were first revealed, numerous major companies have expressed support for the initiative and announced plans to double the $1,000 government contribution for the children of eligible employees.
Treasury Secretary Scott Bessent speaks at the Trump Accounts Launch Summit in Washington, DC, on January 28. (Valerie Plesch/Bloomberg via Getty Images/Getty Images)
More information about Trump Accounts can be found at trumpaccounts.gov.
