The U.S. Department of the Treasury announced automatic enrollment of more than 60 million children in Trump Accounts, a type of investment account designated as 530A accounts. The enrollment was completed by Thursday, following proposed regulations issued on Tuesday to initiate the process. Treasury Secretary Scott Bessent stated that millions of children had already enrolled previously, with automatic enrollment expanding access to over 60 million additional eligible children.
Trump Accounts officially launched on July 4 and are available to any American child under 18 with a Social Security number. Children born between 2025 and 2028 may qualify for a one-time $1,000 contribution from the Treasury. The Treasury updated regulations this week to permit stock donations to Trump Accounts, which analysts suggest may increase private charitable giving. Individual stocks donated to these accounts generally must be held for five years before sale, according to Treasury guidance. Previously, these accounts could only hold diversified, low-cost funds.
Automatic enrollment does not automatically trigger the $1,000 government deposit. Parents or guardians must claim their children’s accounts through the Trump Accounts app by verifying identity and relationship to the child. Only after claiming can accounts receive contributions from family members, friends, employers, and the Treasury’s seed funding. Private donors have also committed significant funds, including tech CEO Michael Dell and his wife pledging $6.25 billion to provide $250 for eligible children born between 2016 and 2024 in lower-income ZIP codes.
Policy analysts noted that automatic enrollment addresses participation challenges faced by the previous opt-in structure. As of mid-September, approximately 7 to 8 million children had enrolled under the original voluntary system. Research from Commonwealth, a national nonprofit, found that only 5% of low- and moderate-income families had previously opened accounts, citing concerns about tax implications, public benefit impacts, and contribution barriers. An estimated 14.4 million children across income levels born between 2025 and 2028 are projected to qualify for the $1,000 federal seed funding, with 5.8 million from lower-income households.
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