U.S. — Trump Accounts, also known as 530A accounts, are scheduled to launch on July 4, 2026. More than 6 million children were signed up for the program as of mid-June 2026.

After the launch, parents, guardians, grandparents, and others can contribute up to $5,000 annually in after-tax dollars to these accounts. Contributions must cease the year before the beneficiary reaches age 18. Babies born between 2025 and 2028 with a Trump Account will receive a $1,000 initial deposit from the Treasury Department.

Employers are permitted to contribute up to $2,500 per worker each year to Trump Accounts, which counts toward the $5,000 annual limit. Qualifying charitable organizations, as well as state and local governments, can make contributions that do not count toward the annual cap. Once the beneficiary reaches age 18, the rules governing traditional IRAs will generally apply.

A June 2026 report from the Congressional Research Service stated that ordinary tax rates would apply to withdrawals unless the money had already been taxed when contributed. Withdrawals made before the beneficiary reaches age 59½ would be subject to a 10% early withdrawal penalty, with exceptions. These include higher education expenses, up to $10,000 to purchase a first home, $5,000 for the birth or adoption of a child, $1,000 annually for personal emergencies, medical expenses that qualify for a tax deduction, and health insurance premiums while unemployed.

Teresa Ghilarducci, an economics professor at The New School, stated, "Each child deserves an asset." She added, "When children have real assets of their own, families face less pressure to solve every crisis out of the mother's paycheck, debt or future retirement."

Anqi Chen, associate director of savings and household finance at the Center for Retirement Research at Boston College, offered a different perspective. She stated, "While Trump Accounts provide early access to investing and the benefits of compounding, it wouldn't solve [the problems] that are driving the gender gap in retirement balances."

At the end of 2025, the average 401(k) balance for men was $194,597, according to the Vanguard 2026 How America Saves report, while the average for women was $146,476. The U.S. Department of Labor reported that women earn an average of 81 cents for every $1 earned by men. A 2025 report from AARP and the National Alliance for Caregiving found that three in five caregivers are women.

A 2017 report from T. Rowe Price indicated that 50% of parents with only boys had set aside funds for their college, compared with 39% of parents with only girls. The same report showed that parents of boys were more likely to cover the entire cost of college than parents of girls, at 17% versus 8%.