President Donald Trump announced from the Oval Office on Wednesday that automatic enrollment of every eligible child under 18 into “Trump Accounts,” his signature youth savings program, is now complete. The White House put the total at roughly 70 million accounts — a huge expansion from the nearly 8 million created since the July launch.
Trump noted the July figure was only about 10 percent of eligible children. More than $4.5 billion has been deposited since July 4. Several children joined him in the Oval Office, and Trump handed out presidential pens and challenge coins to the young guests. Read more on World Reach Daily.
What Are Trump Accounts?
Trump Accounts are tax-advantaged investment and savings accounts created for American children under the age of 18, designed to help families build long-term wealth for the next generation. The program began enrolling families in July, and the administration describes it as a way to give young Americans a head start on the American dream.
Trump has said the accounts teach children about entrepreneurship and stock ownership, predicting that an entire generation will grow up owning stocks. “If all goes well,” he told reporters, “they’ll end up being quite rich by the time they’re 18, and then 21, and as time goes by.” Treasury Secretary Scott Bessent has called the program the start of an “ownership society,” arguing it will renew young Americans’ belief in capitalism.
White House spokeswoman Taylor Rogers said automatic enrollment makes participation easier than ever. A White House official said an estimated 80 percent of the accounts are linked to families earning less than $200,000 a year — the lower-income households the Treasury says automatic enrollment benefits most.
Enrollment Is Not the Same as Access: The Crucial Catch
Despite the headline numbers, automatic enrollment does not mean a child automatically receives the government’s $1,000 seed contribution, or that parents control the account. The account simply exists in the child’s name. A parent or guardian must claim it before they can manage it, allow relatives, friends, or employers to contribute to it, or qualify the child for the one-time federal deposit.
Eligibility for an account is broader than eligibility for the $1,000 government contribution. Every child under 18 with a valid Social Security number is eligible for an account; Treasury automatically created accounts for those who lacked one as of October 1. The one-time $1,000 federal contribution is reserved for U.S. citizen children born between January 1, 2025 and December 31, 2028. Until claimed, each account is held in trust by the Bank of New York Mellon.
How to Claim Your Child’s Account
Claiming an account is done through the official Trump Account mobile app, available for iOS and Android. The process, as described by the Treasury Department, works like this:
- Download the official Trump Account app on a smartphone.
- Verify your identity and your relationship to the child.
- Review the child’s information and accept the account terms.
Once claimed, the parent can manage the account, open it to contributions from family members, friends, employers, and other qualified donors, and — for eligible children — receive the one-time $1,000 Treasury seed contribution. Officials are urging families to claim accounts now: the accounts are ready and waiting.
Heavyweight Private Backing
Trump thanked Michael and Susan Dell for donating roughly $6.25 billion to Trump Accounts — enough to provide $250 to 25 million account holders — with the funds to be deposited by the end of the week. Susan Dell urged families directly: the accounts are ready, waiting, and already hold money.
Beyond the Dell donation, the president said 70 companies have committed to supporting Trump Accounts, and the automatic enrollment also opens the door to broader philanthropic contributions that can jump-start children’s savings. The combination of federal seed money, private donations, and automatic universal coverage is what the administration hopes will turn a voluntary program into a near-universal one.
Sources and Resources
- New York Post: Trump celebrates all kids under 18 having a Trump Account – Oct. 7 report on the Oval Office announcement, with details on claiming, eligibility, and the $1,000 seed contribution
- The White House – Official White House site for administration announcements and statements on the program
- U.S. Department of the Treasury – Official Treasury site; the department administers Trump Accounts and announced the completion of automatic enrollment
Frequently Asked Questions
Is my child automatically enrolled in a Trump Account?
Yes. The Treasury Department automatically created accounts for every eligible child under 18 with a valid Social Security number who did not already have one as of October 1, bringing the total to roughly 70 million accounts. But enrollment alone does not give you access to the account — a parent or guardian must claim it through the official app.
Does my child automatically get the $1,000 from the government?
No. The one-time $1,000 federal contribution goes only to U.S. citizen children born between January 1, 2025 and December 31, 2028, and only after a parent claims the account in the Trump Account app. Enrollment creates the account; claiming unlocks the money.
How do I claim my child’s Trump Account?
Download the official Trump Account mobile app (iOS and Android), verify your identity and your relationship to the child, review the child’s information, and accept the account terms. Once claimed, you can manage the account and allow contributions from family, friends, and employers.
What happens to the account if I never claim it?
The account is held in trust by the Bank of New York Mellon until a parent or guardian claims it. It remains in the child’s name, but without a claim, no one can manage it, add contributions, or receive the federal $1,000 seed contribution for eligible children.