If you have a child who will be 18 or younger by the end of the calendar year and they have a Social Security number, you can establish a Trump account to give them a head start on saving for retirement.
You’ll find a fuller explanation of the pros and cons of Trump accounts in this article.
One major reason to open an account is if you have a child that was born after January 1, 2025 or expect one to be born before December 31, 2028. For these children, the U.S. government will seed their Trump account with an initial $1,000 contribution.
The government contribution won’t count toward the total contribution limit of $5,000 that can be made by you or in combination with additional contributions from your employer.
How to establish a Trump Account
When you file your tax return, you can add IRS Form 4547 to make an election to a Trump Account. But you don't have to wait that long.
You can also apply for an account online on the IRS web site. Your online credentials are established by creating an id.me account, which lets you sign in online to the IRS and other government agencies.
If you don’t have an id.me account
You can use this link to create an id.me account.
You’ll need to provide a personal email address and establish a unique 8-character password.
For verification purposes, you’ll need to provide:
- Your Social Security Number
- Images of a valid photo ID such as your driver’s license or passport or passport card.
- You’ll also want to have your cell phone handy to authenticate your account via a text.
Once you have an id.me account
To apply for a Trump account:
- Log in to your account at the IRS website.
- Click on the “Forms” tab at the top and select “Trump Accounts.”
- Click on “Begin Form” and follow the instructions. You’ll need to enter each eligible child’s birthdate and Social Security Number and verify that your own information is correct.
- Submit your application.
If you have more than one eligible child, you’ll need to submit separate applications for each one.
Tracking the status
You can track the status of your application by returning to id.me. Once your application has been approved, you will be sent activation instructions from no-reply@TrumpAccounts.Treasury.gov. This is the only legitimate sender. The message will look like this, which was received by my Canby Financial colleague, David Jaeger:
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If you receive unexpected Trump Account-related texts, calls or emails from anyone else, they're probably scammers.
The activation instructions will give you further information on how to get started with your account and how to contribute to it. You can start making contributions to your child's Trump Account on July 4, 2026.
At the moment, all Trump Accounts will be hosted by Bank of New York Mellon in partnership with Robinhood Securities. It's not clear whether Trump Accounts will be able to be transferred to other custodians in the future.
For more information about Trump Accounts, visit https://trumpaccount.com/.
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This article was authored by Martin Baker and Jeffrey Briskin. Martin is a financial advisor and Director of Financial Planning with Canby Financial Advisors, LLC, an Investment Adviser registered with the U.S. Securities & Exchange Commission. SEC registration does not constitute an endorsement by the SEC nor a statement about any skill or ability. Martin can be reached at 508.598.1082 or mbaker@canbyfinancial.com. Jeffrey Briskin is Director of Marketing at Canby Financial Advisors.
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