The U.S. Department of the Treasury said that more than 6 million American children had Trump Accounts opened on their behalf by mid-June, with the accounts due to officially launch on July 4.
Parents and legal guardians have been able to establish accounts for beneficiaries in two ways: by filing IRS Form 4547 with a 2025 tax return or by registering at TrumpAccounts.gov. The Treasury's enrollment figures through mid-June show substantial early uptake, though they fall short of the total child population eligible for the program.
Government data from the Census Bureau for 2024 recorded about 73.1 million children under the age of 18 residing in the United States. Using that as the baseline, millions of minors remain eligible for account openings ahead of the program's July 4 start date.
Published Treasury statistics indicate that about 1.4 million of the children enrolled qualify to receive the program's $1,000 initial seed contribution from the Treasury.
The account framework is open to any U.S. child under 18 who has a Social Security number. For children born between 2025 and 2028, the program includes a one-time $1,000 contribution from the Treasury.
Private philanthropy is also integrated into the design. Tech CEO Michael Dell and his wife, Susan, have pledged $6.25 billion to the effort to provide an extra $250 for children born between 2016 and 2024 who live in ZIP codes where the median household income is $150,000 or less.
Accounts may receive outside contributions from family members, friends or employers, and balances in the accounts grow on a tax-deferred basis.
Treasury Secretary Scott Bessent has described the initiative as seeking broader private and local participation through a "50-state challenge," encouraging philanthropists, charities and local governments in every state to contribute. According to the Treasury, some philanthropists in particular states have already pledged to seed accounts for qualifying families.
Context for stakeholders
For families and household financial planners, the accounts represent a new avenue to accumulate tax-deferred savings for minors. Philanthropic organizations and local governments are positioned as potential funders under the Treasury's stated aim to mobilize contributions nationwide. The program's initial enrollment and the mix of public seed payments and private commitments will shape near-term participation rates through the official launch.