The Trump administration wants American parents to open federally backed investment accounts for their children, and billionaire CEO Michael Dell plans to sweeten the deal. Dell said he and his wife, Susan Dell, will donate $250 to the first 25 million qualifying American children who sign up for Trump Accounts. “This makes every child a
The Trump administration wants American parents to open federally backed investment accounts for their children, and billionaire CEO Michael Dell plans to sweeten the deal.
Dell said he and his wife, Susan Dell, will donate $250 to the first 25 million qualifying American children who sign up for Trump Accounts.
“This makes every child a shareholder in the greatest engine of prosperity the world has ever known: American capitalism,” Dell wrote in an X post.
US Treasury Secretary Scott Bessent said the Trump Accounts app is equipped with a “full suite” of capabilities. “You can start funding your child’s account, explore financial education modules, and more,” Bessent wrote on X.
To register, parents must log in or create an Internal Revenue Service account. They can then file Form 4547 to choose their child. The form can be submitted in the Trump Accounts app, when filing your tax return, or on the IRS website.
Trump Accounts, established under the Tax Cuts for Working Families Act, are tax-deferred investment savings accounts for American children under age 18. Families can contribute up to $5,000 each year to the accounts, which will function like a traditional IRA once the child reaches adulthood, the White House says.
Parents with a child born between January 1, 2025 and December 31, 2028, who have a valid Social Security number, can also choose to receive a one-time deposit of $1,000 from the U.S. Department of the Treasury into their child’s account.
The initiative has had the support of more than a dozen philanthropists and companies, in addition to the Dell family. BlackRock, Chipotle, MasterCard, Block, Robinhood and Chime were among those on the list.
Trump on Friday urged more American companies to help finance the bills.
“The Treasury Department will now accept philanthropic contributions of publicly traded stocks to help fund TRUMP ACCOUNTS for eligible American children,” Trump wrote in a Truth Social post. “This opens the door for BIG American businesses, philanthropists and job creators to invest directly in our children’s future and help build a generation of savers, investors and homeowners.”