President Donald Trump promoted the Trump Accounts program at an Oct. 7 Oval Office event after the Treasury Department announced automatic enrollment for eligible children under 18 who have valid Social Security numbers. The White House put the total at roughly 70 million accounts, according to Fox Business.
Automatic enrollment does not give parents or guardians control of an account automatically. They must claim it to manage the account and begin receiving contributions, the report said.
The program was created under the Republican-backed tax-and-spending law passed last year. The accounts are legally structured as individual retirement accounts, with restrictions that generally prevent withdrawals before the beneficiary turns 18. The source reports a $5,000 annual contribution limit for 2026 and 2027, with later inflation adjustments. Employers may contribute up to $2,500 annually under the described rules.
A federal seed contribution of $1,000 is limited to children born from Jan. 1, 2025, through Dec. 31, 2028, meaning most children enrolled automatically do not qualify for that payment. The report says family and friends may contribute up to $5,000 per year, and that private donations are separate from the federal payment.
At the event, Trump thanked Michael and Susan Dell for a reported $6.25 billion donation, which the source said would provide $250 to 25 million account holders. Michael Dell said the money would be deposited by the end of that week. A White House official also told Fox News that an estimated 80% of accounts are associated with families earning under $200,000 annually.
Trump said more than 70 companies had agreed to contribute to accounts for employees’ children. The source names Uber, Intel, Nvidia and Steak ’n Shake among them. The account’s potential growth depends on contributions and investment performance; the report does not establish that beneficiaries will reach any particular balance.
