New Baby? What You Should Know About Trump Accounts

Welcoming a new baby comes with plenty of decisions—from choosing a pediatrician to planning for the future. If you've recently welcomed a child, you may be eligible for a new federal investment account for babies that can help you begin saving for your child's future. The program, called Trump Accounts, provides eligible children with a one-time $1,000 government contribution to help jump-start long-term savings.

Children born between January 1, 2025, and December 31, 2028, may qualify if they are U.S. citizens and have a Social Security number. The account is designed to support long-term savings, and parents, grandparents, friends, and even employers may contribute, subject to annual contribution limits established by federal law. The funds generally remain invested until the child reaches adulthood.

How do I get started?

Parents or legal guardians can open an account by completing IRS Form 4547, Trump Accounts Contribution and Eligibility Certification. The form is available through the IRS, and additional enrollment options may become available through participating financial institutions and federal tax filing processes.

Frequently Asked Questions

Who is eligible?

Children born between January 1, 2025, and December 31, 2028, who are U.S. citizens with a Social Security number, may qualify for the $1,000 government contribution if an account is opened on their behalf.

Can family members contribute?

Yes. Parents, grandparents, relatives, friends, and employers may contribute to the account, up to the annual contribution limits established under the program.

Does this replace other savings options?

Not necessarily. Every family's financial situation is different. Some families may choose to use a Trump Account alongside other savings options, such as education savings plans or retirement accounts. If you have questions about what makes the most sense for your family, consider speaking with a trusted financial professional.

At Groundwork Ohio, we believe every child should have the opportunity for a strong start. Helping families understand available resources is one way we can support children from the very beginning. If your family recently welcomed a new baby, this new program may be worth exploring as you plan for your child's future.

Groundwork Ohio is sharing this information for educational purposes to help families understand available federal resources. Families should consult the official program guidance for the most current eligibility requirements and application instructions.

Learn More

Trump Accounts website | https://trumpaccounts.gov/

IRS: Trump Accounts overview | https://www.irs.gov/trumpaccounts

U.S. Department of the Treasury announcement | https://home.treasury.gov/news/press-releases/sb0554

Boston College Center for Retirement Research: A Primer for Parents | https://crr.bc.edu/trump-accounts-a-primer-for-parents/