Stakeholder Partnerships, Education & Communication (SPEC) is currently focusing on a Trump Accounts outreach initiative to provide taxpayers with timely and practical information regarding the benefits and eligibility of Trump Accounts. Taxpayers should visit TrumpAccounts.gov for more information.

Trump Accounts Key Highlights:

• Trump Accounts, established under the Working Families Tax Cuts, are tax advantaged investment accounts designed to help eligible children build long-term financial security.
• Parents, guardians, and other authorized individuals can elect to open a Trump Account for an eligible child. Children must have an SSN and be younger than age 18 at the end of the election year. Elections are made by submitting Form 4547, Trump Account Election(s), with an original tax return, as a standalone form, or through an IRS online account or the Trump Accounts app.
• An election can also be made for eligible U.S. citizen children born between January 1, 2025, and December 31, 2028, to receive a one-time $1,000 pilot program contribution from the U.S. Department of the Treasury.
• Contributions to Trump Accounts begin July 4, 2026.

When Can Funds Be Used?

Funds generally cannot be withdrawn until January 1st of the calendar year in which the child turns 18. After that, distributions generally follow traditional IRA rules and may be used for qualified expenses, including:

• Higher education
• First home purchase

Certain distributions may be subject to taxes and other applicable rules.

Help Protect Families From Scams

• Official activation emails will come only from no-reply@TrumpAccounts.Treasury.gov.
• Be cautious of unsolicited calls, texts, or emails claiming to be about Trump Accounts. Treasury will never contact individuals by text message or phone call regarding account activation.
• Use only official Treasury and IRS websites and applications.
• Families should access their accounts only through the official Trump Accounts app or by visiting TrumpAccounts.gov.

Resources

• Treasury Announces the Launch of the Trump Accounts App and Next Steps for Trump Accounts | U.S. Department of the Treasury
• Trump Accounts | Internal Revenue Service
• Trump Accounts - The American Dream Starts Now
• Taxpayers can now view and submit Trump Account elections in their IRS Individual Account | Internal Revenue Service
• Treasury, IRS issue guidance on Trump Accounts established under the Working Families Tax Cuts; notice announces upcoming regulations | Internal Revenue Service