Who Qualifies for a Trump Account?
The federal government is rolling out new tax-advantaged investment accounts for kids. Here’s who qualifies for the account.
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Last year, the federal government announced a new kind of tax-advantaged investment account for children. Trump Accounts, also known as 530A accounts, were created with the intention of helping children get a head start on saving for retirement. Some qualified children will receive $1,000 in seed money in their accounts.
While 530A accounts won’t become available for families until July 5, 2026, parents and legal guardians can fill out Form 4547 when they file their taxes this spring in order to elect to open an account.
Like a 401(k) or IRA, there are a lot of rules about who can open a 530A account and how much they can contribute each year.
Who qualifies for a Trump Account?
Parents and legal guardians can open a 530A account for their children who are U.S. citizens, have a Social Security number, and are under the age of 18. While the child “owns” the account, their parents are custodians of the money until the child turns 18.
Who qualifies for the $1,000 seed money?
Every baby born between January 1, 2025, and December 31, 2028, will receive a $1,000 deposit from the federal government that acts as seed money for these accounts.
Children born within this window must be U.S. citizens with Social Security numbers in order to qualify for an account.
Will children born before 2025 qualify for any seed money?
In 2025, CEO of Dell Technologies, Michael Dell, and his wife, Susan, announced they would be making a $6.25 billion donation to Trump Accounts. The money will be used to seed accounts for children under 10 who live in low-income areas.
Bridgewater Associates founder, Ray Dalio, and his wife, Barbara, announced they would be donating $75 million to create a similar program for families in Connecticut. And in January 2026, Brad Gerstner, CEO of Altimeter, announced he would be donating money to set up a program in Indiana for low-income children under five years old.
The Trump administration has set up the 50 State Pledge in an effort to get billionaires in every state to offer additional seed funding for 530A accounts.
There isn’t yet any information on how to know if your child will qualify for these funds or when they will roll out.
Who can contribute to 530A accounts?
Any adult (parents, legal guardians, friends and family) can contribute to a child’s Trump Account, up to $5,000 per year. Employers can contribute up to $2,500 per employee, and these contributions count toward the $5,000 contribution limit. Any seed funding a child receives doesn’t count toward the contribution limits.
Employers’ contributions to 530A accounts are pre-tax.
Companies including Block, Charles Schwab, JP Morgan Chase, Mastercard, Uber, Visa, and more announced that they will match employee contributions to Trump Accounts. Parents should reach out to their employers to find out more details.
Can you open a 530A account if you already have a 529?
Yes, families can choose to contribute to both 529 and 530A accounts. These two accounts have different contribution and withdrawal rules. While you can use money in a 530A account to pay for college, you can’t use money in a 529 account to buy a home (or pretty much anything that’s not directly related to education expenses).
Parents can contribute more to a 529 account annually, and they can withdraw the funds tax-free to pay for qualified education expenses, including private school tuition.
