--- title: Parents Can Now Use an App to Set Up Trump Accounts for Their Kids description: Treasury launches Trump Accounts app to help parents manage new tax-deferred investment accounts for kids. authors: - name: Adam Hardy role: Lead Data Reporter url: https://money.com/author/adam-hardy/ bio: Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers. education: University of South Florida, BA, Magazine Journalism at_money_since: 2021 articles: 498 covers: - Investing - Banking - Business - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Pets - Professional Services - Retirement - Shopping - Taxes - Technology also_seen_in: - The Penny Hoarder - Forbes Advisor - Creative Loafing - The New York Times - The Washington Post - Bloomberg - Harvard Law School - The Federal Register - National Consumer Law Center - CBS News - Becker's Hospital Review - Business Insider - Mother Jones - The Week - Fortune - The Philadelphia Inquirer - National Association of Student Financial Aid Administrators (NAFSAA) - Education Advisory Board (EAB) - The Institute for College Access & Success (TICAS) - This Morning with Gordon Deal - Empower - Reddit social: - https://www.x.com/hardyjournalism - https://www.linkedin.com/in/hardyjournalism/ editors: - name: Katherine Peach role: Associate Editor url: https://money.com/author/katherine-peach/ bio: Katherine Peach is an associate editor with a focus on news and email at Money. She didn’t always intend to write about money. She’s a classically trained pianist who dreamed of becoming an archaeologist. However, in 2007 Katherine began working in financial publishing as an editor for Agora Inc. (Apparently, unearthing ideas about improving your personal finances isn’t such a bad career alternative!) Katherine’s writing and editing work has been featured in Investing Daily, Clever, Investor Junkie, The Palm Beach Letter, Truth & Plenty, Independence Monthly, NICHE, AmericanStyle, AntiqueWeek, Millennial Money, Money Done Right, TheStreet, Sure Dividend and many others. Katherine holds a Bachelor of Arts in Ancient Studies with concentrations in Archaeology and Ancient Languages and a minor in Literature from the University of Maryland, Baltimore County. She is a member of Phi Beta Kappa. education: University of Maryland, Baltimore County at_money_since: 2025 articles: 14 covers: - Investing - Banking - Career Advice - Credit - Credit Cards - Debt - Economy and Politics - Education - Federal Reserve Rate Cuts - Health and Wellness - Housing - Identity Theft - Insurance - Lifestyle - Loans - Mortgages - Personal Finance - Professional Services - Retirement - Shopping - Taxes published: '2026-05-28T17:00:02.000Z' modified: '2026-05-28T20:56:15.000Z' section: Investing tags: - News word_count: 516 canonical: https://money.com/trump-accounts-app-launch/ type: NewsArticle source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Trump with Trump account banner](https://img.money.com/2026/05/News-Trump-account.jpg) A new app for the upcoming Trump Account program launched this week. The Department of the Treasury [said on Thursday](https://home.treasury.gov/news/press-releases/sb0508) that the next phase of rolling out [Trump Accounts](https://money.com/trump-accounts-for-kids/), which are new federal investment options for kids launching July 4, includes releasing an app and encouraging parents to activate the accounts if they have already signed up. “The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from Day One,” Treasury Secretary Scott Bessent said in a statement. Trump Accounts are free, tax-deferred investment accounts for kids that were created by the [One Big Beautiful Bill Act](https://money.com/trump-tax-cuts-big-beautiful-bill/). They're similar to custodial brokerage accounts in that they allow parents to invest on behalf of their child. At age 18, the child gets ownership of the account and can continue to contribute to it like an individual retirement account, or IRA. Parents can open an account for any child with a Social Security number, but for children born between Jan. 1, 2025, and Dec. 31, 2028, the Treasury Department will fund the accounts with a one-time deposit of $1,000 per eligible newborn. Starting Thursday, the Trump Account app will be available on the Apple App Store and Google Play. In a [video posted on X](https://x.com/USTreasury/status/2059954270481313970), Bessent said the app can be used to sign up, contribute and watch Trump Account balances grow once the accounts are officially launched in July. For now, the app is mainly for parents to ensure their child’s account will be activated ahead of the launch. According to Bessent, the app was designed in partnership with Robinhood and Bank of New York Mellon (BNY). In April, [BNY was designated a “financial agent” of the federal government](https://home.treasury.gov/news/press-releases/sb0433) to help implement the Trump Account program. At launch, contributions into the accounts will be invested in [exchange-traded funds](https://money.com/etf-for-every-age/) that track the S&P 500 stock market index, according to [*The Wall Street Journal*](https://www.wsj.com/finance/investing/the-app-for-trump-accounts-will-launch-thursday-heres-what-to-know-47f1e983). More options for investing in U.S.-based companies are expected later. Parents, family, friends and employers can contribute to the accounts, up to $5,000 per year until the child turns 18. During this time, donors and state or local governments can also make contributions that will not count toward the $5,000 annual limit. Trump Accounts can be fully managed through the app, but parents can choose to transfer the accounts to other financial institutions later on. Children, once they gain ownership of the account at age 18, may do the same. On Thursday, the Treasury Department also said it will begin reaching out to parents who have signed up already with account setup instructions via email, noting that the correspondence about the accounts will come only from [no-reply@TrumpAccounts.Treasury.gov](mailto:no-reply@TrumpAccounts.Treasury.gov). Parents can sign up by filling out [IRS form 4547](https://www.irs.gov/trumpaccounts), which more than 4 million families already did during tax season. Forms are also available on [TrumpAccounts.gov](http://trumpaccounts.gov) at any time. “By putting easy access to Trump Accounts directly in the hands of parents and young Americans, we are helping to ensure that America’s youth are included in this new era of economic participation,” Bessent said. ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/trump-accounts-app-launch/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Investing", "item": "https://money.com/investing/" }, { "@type": "ListItem", "position": 3, "name": "News", "item": "https://money.com/tag/news/" }, { "@type": "ListItem", "position": 4, "name": "Parents Can Now Use an App to Set Up Trump Accounts for Their Kids" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/trump-accounts-app-launch/#webpage", "url": "https://money.com/trump-accounts-app-launch/", "name": "Parents Can Now Use an App to Set Up Trump Accounts for Their Kids", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2026-05-28T17:00:02.000Z", "mainEntity": { "@id": "https://money.com/trump-accounts-app-launch/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/trump-accounts-app-launch/#breadcrumb" }, "dateModified": "2026-05-28T20:56:15.000Z" }, { "@type": "NewsArticle", "headline": "Parents Can Now Use an App to Set Up Trump Accounts for Their Kids", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2026/05/News-Trump-account.jpg", "width": 2880, "height": 1920, "caption": "News-Trump-account" } ], "author": [ { "@type": "Person", "name": "Adam Hardy", "url": "https://money.com/author/adam-hardy/", "@id": "https://money.com/author/adam-hardy/#author", "description": "Adam Hardy is a lead data journalist at Money, where he frequently reports on financial barriers that affect low-income Americans. Adam’s work has also appeared in Business Insider, Forbes, Nasdaq, The Penny Hoarder, Yahoo! Finance and more than a dozen local and regional newspapers.", "image": "https://img.money.com/2022/01/a_adam-hardy.jpg?quality=85&w=400&h=440&crop=1", "email": "adam.hardy@money.com", "jobTitle": "Lead Data Reporter", "alumniOf": "University of South Florida, BA, Magazine Journalism", "subjectOf": [ { "@type": "WebPage", "url": "https://www.thepennyhoarder.com/", "name": "The Penny Hoarder" }, { "@type": "WebPage", "url": "https://www.forbes.com/advisor/", "name": "Forbes Advisor" }, { "@type": "WebPage", "url": "https://creativeloafing.com/", "name": "Creative Loafing" }, { "@type": "WebPage", "url": "https://www.nytimes.com/2023/05/01/opinion/biden-trump-harris-2024.html", "name": "The New York Times" }, { "@type": "WebPage", "url": "https://www.washingtonpost.com/opinions/2022/12/26/flexible-spending-account-is-flawed-benefit/", "name": "The Washington Post" }, { "@type": "WebPage", "url": "https://www.bloomberg.com/opinion/articles/2025-09-20/-100-000-h-1b-visa-fee-is-a-gamble-that-could-protect-us-jobs", "name": "Bloomberg" }, { "@type": "WebPage", "url": "https://petrieflom.law.harvard.edu/2024/02/08/whoop-and-the-irs-how-tax-avoidance-helps-health/", "name": "Harvard Law School" }, { "@type": "WebPage", "url": "https://www.federalregister.gov/documents/2025/12/29/2025-23853/weighted-selection-process-for-registrants-and-petitioners-seeking-to-file-cap-subject-h-1b#footnote-33-p60883", "name": "The Federal Register" }, { "@type": "WebPage", "url": "https://www.nclc.org/resources/what-states-can-do-to-stop-credit-reporting-abuses/", "name": "National Consumer Law Center" }, { "@type": "WebPage", "url": "https://www.cbsnews.com/news/open-enrollment-irs-changes-fsa-hsa-flexible-spending-account-health-savings-account-2023/", "name": "CBS News" }, { "@type": "WebPage", "url": "https://www.beckershospitalreview.com/rankings-and-ratings/20-top-us-hospitals-for-2025-per-money/", "name": "Becker's Hospital Review" }, { "@type": "WebPage", "url": "https://www.businessinsider.com/using-chatgpt-ai-write-cover-letters-job-applications-2023-2", "name": "Business Insider" }, { "@type": "WebPage", "url": "https://www.motherjones.com/politics/2026/04/a-major-strike-of-beef-workers-pauses-in-colorado-but-workers-say-the-fight-isnt-over/", "name": "Mother Jones" }, { "@type": "WebPage", "url": "https://theweek.com/business/economy/job-market-frozen-thawing", "name": "The Week" }, { "@type": "WebPage", "url": "https://fortune.com/2023/12/20/workers-lose-money-on-unused-fsa-accounts-deadlines-what-companies-should-do/", "name": "Fortune" }, { "@type": "WebPage", "url": "https://www.inquirer.com/opinion/editorials/liberation-day-tariffs-economy-stock-market-trump-20250401.html", "name": "The Philadelphia Inquirer" }, { "@type": "WebPage", "url": "https://www.nasfaa.org/news-item/37955/Student_Loan_Changes_2026_New_Repayment_Options_Taxable_Forgiveness_and_More_on_the_Way", "name": "National Association of Student Financial Aid Administrators (NAFSAA)" }, { "@type": "WebPage", "url": "https://eab.com/resources/blog/adult-education-blog/graduate-funding-shift-pricing-aid-strategies-aligned/", "name": "Education Advisory Board (EAB)" }, { "@type": "WebPage", "url": "https://ticas.org/california/state-private-loans-protections-blog/", "name": "The Institute for College Access & Success (TICAS)" }, { "@type": "WebPage", "url": "https://thismorningwithgordondeal.com/b/This-Morning-with-Gordon-Deal-August-04,-2026/421564107823081285.html", "name": "This Morning with Gordon Deal" }, { "@type": "WebPage", "url": "https://www.empower.com/the-currency/life/pumpkin-spice-season-spending", "name": "Empower" }, { "@type": "WebPage", "url": "https://www.reddit.com/r/Economics/comments/1va10oa/comment/p0i9bju/", "name": "Reddit" } ], "sameAs": [ "https://www.x.com/hardyjournalism", "https://www.linkedin.com/in/hardyjournalism/" ], "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2026-05-28T17:00:02.000Z", "description": "Treasury launches Trump Accounts app to help parents manage new tax-deferred investment accounts for kids.", "abstract": "Treasury launches Trump Accounts app to help parents manage new tax-deferred investment accounts for kids.", "@id": "https://money.com/trump-accounts-app-launch/", "inLanguage": "en-US", "dateModified": "2026-05-28T20:56:15.000Z", "editor": [ { "@type": "Person", "name": "Katherine Peach", "url": "https://money.com/author/katherine-peach/", "@id": "https://money.com/author/katherine-peach/#author", "description": "Katherine Peach is an associate editor with a focus on news and email at Money. She didn’t always intend to write about money. She’s a classically trained pianist who dreamed of becoming an archaeologist. However, in 2007 Katherine began working in financial publishing as an editor for Agora Inc. (Apparently, unearthing ideas about improving your personal finances isn’t such a bad career alternative!)\r\n\r\nKatherine’s writing and editing work has been featured in Investing Daily, Clever, Investor Junkie, The Palm Beach Letter, Truth & Plenty, Independence Monthly, NICHE, AmericanStyle, AntiqueWeek, Millennial Money, Money Done Right, TheStreet, Sure Dividend and many others.\r\n\r\nKatherine holds a Bachelor of Arts in Ancient Studies with concentrations in Archaeology and Ancient Languages and a minor in Literature from the University of Maryland, Baltimore County. She is a member of Phi Beta Kappa.", "jobTitle": "Associate Editor", "alumniOf": "University of Maryland, Baltimore County", "worksFor": { "@id": "https://money.com/#organization" } } ], "wordCount": 516, "keywords": [ "News" ], "about": [ { "@type": "Thing", "name": "Investment", "sameAs": [ "https://en.wikipedia.org/wiki/Investment" ] } ] } ] } ```