Trump Accounts App Goes Live as Families Start Gearing up for $1,000 Seed Money

CNBC, Department of the Treasury, the Washington Post, Reuters contributed to this report.

Families can now download the Trump Accounts app, which launched Thursday and marks the next step in the rollout of the new child investment program.

The app is available in Apple and Google app stores, and Treasury officials say it will be the main way parents and guardians manage the accounts. But there is a catch: families cannot start funding them until July, when the program officially opens.

To get started now, parents or guardians have to open an account for their child by filling out IRS Form 4547 on TrumpAccounts.gov. Once that is done, the account activation process begins in waves, with emails coming from [email protected]. Treasury says families should ignore any phone calls or text messages about activation, since those are likely scams.

According to Treasury, eligible children must have a Social Security number, and all US children under 18 can sign up. The $1,000 federal deposit is reserved for kids born between 2025 and 2028.

The program is also starting to pick up outside support. Some employers, charities and state or local governments can contribute to the accounts, and Treasury says the accounts can receive up to $5,000 a year in after-tax contributions from parents, grandparents and others once the program opens on July 4. Employers can put in up to $2,500 per worker annually, as part of that limit.

The money will be invested in broad US stock index funds, according to Treasury guidance.

For families who have already signed up, the app will walk them through verification and activation, including confirming identity details for both the parent and the child. Treasury says account holders will get more instructions by email before July 4.

Nearly 6 million children have already been signed up, Treasury said. For the Trump administration, the launch is being pitched as a big step in expanding long-term investing to kids early in life.