Frequently Asked Questions, Answered.
Common Questions
What is a Trump Account and how does it work?
Trump Accounts are investment accounts for eligible children in American and U.S. territories. The money in the account is invested for the child’s future and can grow over time. Starting October 1, U.S. Treasury will automatically create Trump Accounts for all eligible children.
Does it cost anything to open or maintain a Trump Account?
There is no cost to families to have a Trump Account. For current account administration information, visit TrumpAccounts.gov.
Who can put money into my child’s Trump Account?
Trump Accounts may receive contributions from families and other eligible contributors, subject to program rules. For current contribution rules and limits, visit TrumpAccounts.gov.
How is the money in a Trump Account invested?
Money in Trump Accounts is invested according to federal rules governing the accounts. For current investment information, visit TrumpAccounts.gov.
About Trump Accounts
What is a Trump Account and how does it work?
Trump Accounts are investment accounts for eligible children in American and U.S. territories. The money in the account is invested for the child’s future and can grow over time. Starting October 1, U.S. Treasury will automatically create Trump Accounts for all eligible children.
Does it cost anything to open or maintain a Trump Account?
There is no cost to families to have a Trump Account. For current account administration information, visit TrumpAccounts.gov.
Who can put money into my child’s Trump Account?
Trump Accounts may receive contributions from families and other eligible contributors, subject to program rules. For current contribution rules and limits, visit TrumpAccounts.gov.
How is the money in a Trump Account invested?
Money in Trump Accounts is invested according to federal rules governing the accounts. For current investment information, visit TrumpAccounts.gov.
What happens to the money in a Trump Account before my child turns 18?
The money remains invested in the child’s account and has the opportunity to grow over time. For current rules governing contributions, investments and withdrawals, visit TrumpAccounts.gov.
When can my child use the money in their Trump Account?
Trump Accounts are designed as long-term investment accounts for children. Federal rules govern when funds can be accessed and how they may be used. For current information, visit TrumpAccounts.gov.
Do I have to pay taxes on Trump Account investment earnings?
No. Parents and guardians do not pay taxes on what their child’s account earns. That said, Trump Accounts are subject to federal tax rules governing contributions, investment growth and withdrawals. For current tax information, visit TrumpAccounts.gov, TrumpAccount.com or IRS.gov.
Can I have other savings in addition to a Trump Account?
Yes. A Trump Account can be one part of how a family saves and invests for a child’s future. Families may also use other savings and investment options available to them.