Trump accounts approved yet
Executive summary
Yes — the Treasury and IRS have laid out how “Trump Accounts” will be created and opened, and the federal $1,000 seed grants are reserved for U.S. citizens born Jan. 1, 2025–Dec. 31, 2028; parents or guardians can elect an account and sign‑ups and activation steps begin in 2026 [1] [2] [3]. Private donors Michael and Susan Dell pledged $6.25 billion to expand access (about $250 for some older children plus funding to reach roughly 25 million kids), a commitment the White House and multiple outlets reported Dec. 2, 2025 [4] [5] [6].
1. What “approved” means: rules, forms and timing
The IRS and Treasury issued initial guidance and a draft election form that explain how an eligible child’s account is created: a parent, guardian or other prioritized adult must make an election (IRS Form 4547 or online application), then Treasury will send activation instructions beginning in May 2026 to complete opening the account with an approved financial institution acting as trustee [2] [3]. The agencies’ materials constitute formal operational steps — not a marketing launch — but they do mean the program’s administrative path is set [1] [2].
2. Who is guaranteed the $1,000 federal seed and who isn’t
The one‑time $1,000 federal “pilot” deposit is limited to U.S. citizens born between January 1, 2025 and December 31, 2028, and only for children for whom an account election is made; children born before 2025 are eligible for accounts but not the full $1,000 Treasury deposit unless covered by supplemental private funding rules [1] [7] [4]. Reporting from the White House and outlets is consistent on that date range and the citizenship requirement [6] [4].
3. Private money: what the Dell pledge changes
Michael and Susan Dell pledged $6.25 billion intended to seed Trump Accounts for millions of children, with coverage reportedly designed to extend some funding to children too old for the federal $1,000 grant — for example, $250 grants for about 25 million children age 10 and under born before 2025, according to multiple outlets and Invest America partners cited by CNBC and CNN [5] [4] [8]. The Dells’ gift does not replace the federal pilot but expands practical access for older beneficiaries beyond the Congress‑mandated cohort [5] [4].
4. What accounts allow and what restrictions matter
Trump Accounts are a new class of tax‑advantaged savings vehicle created by the One Big Beautiful Bill Act; accounts must be invested in low‑cost index funds tracking U.S. stock indexes and are locked against withdrawals until the beneficiary turns 18, after which the account generally follows IRA‑style rules and may impose tax consequences on withdrawals [7] [4] [5]. Some reports note limited early‑use exceptions (education, first home) and that investment options may be restricted by statute language — a point the asset management industry has flagged [4] [5].
5. Sign‑up mechanics and the likely rollout schedule
News outlets and Treasury guidance say parents can elect accounts via a forthcoming IRS portal (trumpaccounts.gov) or by filing the draft Form 4547; after an election is processed the Treasury will send authentication/activation materials starting in May 2026, and online account opening will be available mid‑2026, per agency and press reporting [2] [3] [1].
6. Competing viewpoints and open questions
Supporters portray the program as a broad, non‑means‑tested way to seed every eligible child with long‑term savings; critics in coverage and some experts argue the initiative gives limited help to the most financially vulnerable, raises questions about locking kids into stock‑market exposure, and may create tax/withdrawal complexities later in life [9] [5] [4]. The asset‑management industry has warned legislative language could constrain ETF or mutual fund choices in practice [5].
7. What’s not yet in reporting (limits and transparency gaps)
Available sources do not mention detailed user experience screenshots of the sign‑up portal, precise trustee institutions selected by Treasury, a full timeline for disbursing the Dells’ donations into individual accounts, nor comprehensive modeling of long‑term tax and benefit interactions for families — those operational and impact details remain to be published by Treasury, the IRS, or the financial trustees (not found in current reporting).
Final note: the program is administratively approved in guidance and donors have pledged billions, but practical access depends on the May–mid‑2026 activation steps and the Treasury’s buildout of the online election/activation process [2] [3] [1].