More than 60 million American children under 18 now have a Trump Account after the U.S. Treasury Department bypassed low opt-in rates with automatic enrollment on October 1.
More than 60 million children in the United States have been automatically enrolled in Trump Accounts, following temporary and proposed regulations published by the Treasury Department in the Federal Register. The swift rollout comes just months after the tax-deferred investment accounts officially launched on July 4 under the One Big Beautiful Bill Act passed by Congress last year.
Treasury Bypasses Opt-In Hurdles
Only about 5% of low- and moderate-income families—those earning up to $80,000 annually—had opened a Trump Account under the initial opt-in structure. Adam Michel, director of tax policy studies at the Cato Institute, noted in a policy analysis that the complexity across more than a dozen accounts discouraged participation among households with limited time, low financial literacy, or insufficient outside savings for emergencies, resulting in a system used primarily by those best equipped to handle it.
Families cited concerns about tax implications, confusion over how to set an account up, a lack of clarity regarding eligibility, and a lack of trust in the administration, according to a study by the national nonprofit Commonwealth.
The temporary regulations take effect September 30, with auto-enrollment beginning October 1. The agency expects that auto-enrolling individuals will add about 2 million more accounts per birth-year cohort.
Stakeholders had expressed that eligible donors preferred their contributions to reach all children rather than just those whose parents had the awareness to opt in. By Thursday, the agency confirmed that every eligible child under age 18 with a valid Social Security number now has an account waiting for them.
Parents Must Claim Accounts to Unlock Funds
Automatic enrollment alone will not trigger the $1,000 government seed contribution or allow outside deposits, meaning families still have work to do to formally claim the account.
- Access the official Trump Accounts application released by the Treasury in May, which is supported on iOS and Android devices via the Google Play and Apple App Store.
- Verify identity and the legal relationship to the child.
- Review the child’s information and accept the account terms.
Babies born between Jan. 1, 2025, and Dec. 31, 2028, are eligible for the one-time $1,000 pilot program contribution from the Treasury, regardless of family income. Once claimed, accounts can receive contributions of up to $5,000 per year from family members, friends, or employers, with funds invested in a portfolio of low-cost index funds.
Private Philanthropy Targets Accounts
The structural pivot aims to unlock large-scale private giving, with the incremental value of class contributions expected to be billions of dollars per year allocated across the accounts of tens of millions of children beyond federal funds.
Michael and Susan Dell earlier committed $6.25 billion for children born from 2016 through 2024 residing in postal areas with a median household income under $150,000, and upwards of 50 companies additionally proposed funding contributions for the children of their workers. The Internal Revenue Service estimates it takes five to 10 minutes to establish an account.