Treasury Launches App for New “Trump Accounts” for Children

Jun 1

2 min read

The U.S. Treasury Department recently announced the rollout of a new mobile app designed to help families access and manage “Trump accounts,” a new type of tax-advantaged savings account for eligible children.

These accounts were created under the One Big Beautiful Bill Act and are available for children born between January 1, 2025 and December 31, 2028. As part of the program, eligible children will receive a $1,000 initial contribution from the federal government to help jump-start long-term savings.

New Mobile App and Account Access

The newly released mobile app—available through both the Apple App Store and Google Play—will serve as the primary platform for families to:

Activate accounts
Track balances
Manage contributions

Parents and legal guardians can enroll children by submitting IRS Form 4547. After submission, families will receive email instructions to complete the account setup process. According to the Treasury, activation emails are being sent in phases through July 4, 2026, which coincides with the program’s official launch date.

Contributions Begin July 4, 2026

Beginning July 4:

The initial $1,000 government contribution will be deposited into eligible accounts
Families, employers, and other eligible contributors can begin making additional contributions (subject to annual limits)

These accounts are intended to provide a tax-advantaged way to save for future needs such as:

Education expenses
Retirement
Long-term wealth building

IRS Enhancements for Online Access

In connection with the program, the IRS has expanded its Individual Online Account features. Taxpayers can now:

Submit Form 4547 electronically
Track the status of account elections
View next steps in the setup process

This is part of a broader IRS effort to improve digital services and streamline taxpayer interactions.

Important Fraud and Security Reminders

During the rollout, the Treasury has warned families to be alert for scams. Key reminders include:

Official communications will come only from: no-reply@TrumpAccounts.Treasury.gov
The Treasury will not contact individuals by phone or text message
Families should avoid responding to unsolicited messages about these accounts

All account setup should be completed through the official app or website.

What This Means for Families

With more than 4 million children already enrolled and millions more eligible, Trump accounts represent a significant new savings opportunity for young families. However, eligibility requirements, contribution limits, and tax treatment should be reviewed carefully.

Please contact us if you have questions about how these accounts fit into your overall financial or tax plan.