Social Security to let parents sign up babies for Trump Accounts

The Social Security Administration is preparing a sign-up path that will let parents enroll newborns in Trump Accounts when they apply for a Social Security number, giving families a shot at the federal government’s $1,000 starter deposit before they leave the hospital. The accounts were created by Congress in the One Big Beautiful Bill Act, signed by President Donald Trump on July 4, 2025.

The one-time $1,000 pilot contribution is limited to U.S. citizen children born in calendar years 2025, 2026, 2027 or 2028, and each child must have a Social Security number. Parents or guardians generally must file IRS Form 4547 to make the election on the child’s behalf. Treasury’s proposed regulations issued March 6, 2026, say that election can be made as soon as the child meets the eligibility rules, which may be the same year the child is born.

The sign-up process takes about 5 to 10 minutes and requires an ID.me account, the child’s Social Security number, date of birth and address. Treasury launched the official Trump Accounts app on May 28, 2026. Activation emails will go out in phases before the July 4, 2026 launch, when accounts begin accepting contributions from parents, family members, employers and other eligible contributors.

Parents can contribute up to $5,000 a year, subject to annual limits and inflation adjustments, and employers may be able to add up to $2,500 a year in some cases. The accounts are held in the child’s name, with a parent or guardian as custodian until age 18, and the investments are limited to low-cost mutual funds or exchange-traded funds tracking broad U.S. equity indexes.

A Bipartisan Policy Center explainer says Trump Accounts are the first federal child savings accounts in the United States. Treasury’s proposed rules put legal guardians first in line to open an account, followed by parents, adult siblings and grandparents. All accounts will initially be managed by BNY, in partnership with Robinhood, before they can be rolled over elsewhere.