Trump accounts sign up about 3 million kids in early push
Treasury Secretary Scott Bessent said at an event near Dallas on Friday that families had filled out nearly 2 million forms to open Trump accounts following a massive promotional campaign that included a Super Bowl 60 commercial and a billboard in New York’s Times Square.
“As we get closer to 2 million forms, it will probably be about 3 million kids,” Bessent said.
The stop was part of the Trump Accounts Tour, following an earlier speech at the Dallas Economic Club, where Bessent also hung out the accounts.
“Programs like this often have trouble with enrollment,” Matt Lira, co-founder of Invest America, a nonprofit advocacy group, told CNBC in an interview. Invest America paid for a Super Bowl ad for the Trump account and promoted new investment accounts aimed at children.
Early response from families “shows that the market for the product is amenable to this idea,” he said.
The opening of tax season on January 26 marked the first opportunity for families to choose to open Trump accounts and request up to $1,000 in seed money by filing IRS Form 4547 with their 2025 tax returns.
Invest America less than two weeks after the Super Bowl on February 8 announced in an X post Families can also begin filling out Form 4547 individually through TrumpAccounts.gov, he said.
Any parent or guardian can open an account for a child under 18, but only children born between 2025 and 2028 are eligible to receive the one-time $1,000 contribution from the Treasury.
According to TrumpAccounts.gov, after completing Form 4547, a “trustee” will contact families with more detailed information to complete the account setup. The authentication process is expected to begin in May. treasury guidance Starting from December.
Once an account is established, the federal government’s $1,000 seed fund will be available on Trump accounts on July 4, a Treasury spokesperson previously told CNBC.
Parents, guardians and others will be able to contribute up to $5,000 a year to Trump accounts until children turn 18.
A growing number of companies have pledged to match the Treasury’s first deposits for their employees’ children. Employers can deposit up to $2,500 as part of the $5,000 limit.
Other children may be eligible to receive charitable gifts into their Trump accounts, depending on their income and where they live. Invest America’s Lira told CNBC that gifts provided by the Treasury will not count against the $5,000 contribution limit.
