WASHINGTON — The federal government will begin distributing $1,000 investment account deposits for 1.4 million eligible children on July 4, 2026. The program is officially known as 530A Accounts and is commonly referred to as Trump Accounts.

More than 6 million accounts have been requested ahead of the official launch. Luke Pettit, Assistant Secretary for Financial Institutions at the U.S. Department of the Treasury, said in a podcast interview, "As of today, more than 6 million accounts have been requested prior to the official launch of the program this month." He added, "1.4 million of these accounts will be eligible for the initial $1,000 seed contribution from Treasury."

To qualify for the federal deposit, children must be U.S. citizens with a Social Security number and born between January 1, 2025, and December 31, 2028. They must also be listed on a parent or guardian's tax return. Parents can open a 530A Account for children born before 2025, but those children will not receive the $1,000 federal deposit. The One Big Beautiful Bill Act, signed in 2025, established the program.

Funds within Trump Accounts are automatically invested in broad U.S. stock market index funds and grow tax-deferred. Family members, friends, and employers can contribute up to $5,000 per year per child. Money in a Trump Account is locked until the child turns 18, with no exceptions for emergencies. Upon turning 18, the account converts to a traditional IRA, allowing funds to be used for college, higher education, buying a first home, or other qualified expenses under traditional IRA rules.

Parents can sign up for Trump Accounts online at TrumpAccounts.gov, by downloading the Trump Accounts mobile app, or by filing IRS Form 4547 alongside their 2025 tax return. Applicants need their child's Social Security number, date of birth, and address to complete an application.

BNY Mellon will serve as a financial agent for the federal government regarding Trump Accounts. Robinhood will function as the brokerage firm and initial trustee, and will collaborate with the National Design Studio to develop the app's user interface. Vlad Tenev, CEO of Robinhood, said in a podcast interview, "An evolution of the American dream." President Donald Trump spoke during the launch of the Trump Accounts program at the Andrew W. Mellon Auditorium in Washington on January 28, 2026. Companies including Dell, Block, Uber, Mastercard, BlackRock, Visa, Charter, Charles Schwab, Chime, SoFi, State Street, Comcast, Chipotle, and Steak 'n Shake have pledged support for Trump Accounts. President Trump announced that Micron will invest $250 million in the program.