--- title: Parents Can Now Sign Up for Trump Accounts When Filing Taxes. Here's How description: Filing taxes? You can open a Trump Account and claim a $1,000 baby investment credit at the same time. authors: - name: Martha C. White role: Writer url: https://money.com/author/martha-c-white/ education: BA, English, Princeton University at_money_since: 2015 articles: 350 covers: - Investing - Banking - Business - 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 - Technology 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: '2026-03-02T14:30:38.000Z' section: Investing tags: - News word_count: 785 canonical: https://money.com/trump-accounts-tax-returns/ 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/). ![Family with baby doing their taxes](https://img.money.com/2026/02/News-Trump-Account-File-Taxes.jpg) Trump Accounts were announced with plenty of fanfare, but the initial experience most Americans will have with these investment accounts will likely be much more prosaic: while filing their taxes. These accounts, which allow investment earnings to grow on a tax-deferred basis, share some similarities with other tax-preferred investment vehicles. They’re intended to give kids market exposure at a young age so they can take advantage of compounding growth and start building wealth well before they’re eligible to contribute to typical retirement accounts. Down the road, the money accumulated in Trump Accounts could be used for higher education or to supplement retirement income. **April 15, 2026** [See Details](/p/intuit-turbo-tax?ap_referrer=%2Ftrump-accounts-tax-returns%2F&pcuid=b6859cab1da0&skip_rechoose_link=1&url=https%3A%2F%2Fwww.kqzyfj.com%2Fclick-101098705-16985108&vertical_alias=tax-preparation&wafid=17703) ## What to know about signing up The biggest benefit Trump Accounts offer is for new parents: Babies born between Jan. 1, 2025, and Dec. 31, 2028**,** are eligible to get a $1,000 contribution from the federal government with no strings attached. For these parents, the question of whether or not to open a Trump Account should be a no-brainer, says Sarah Adkisson, tax director in the national tax office of the Eisner Advisory Group. “You really, really want to make this election. It’s free money. How often is the government going to just give you $1,000?” Your baby needs to have a Social Security number to qualify for the account, and you’ll need to have that number handy when you file your taxes. The agency [says](https://www.ssa.gov/pubs/EN-05-10023.pdf) it can take up to 10 weeks to get your baby's Social Security number if you applied while filing their birth certificate paperwork at the hospital. Compared to the bevy of other tasks facing new parents, this one is relatively quick and straightforward. "It should be pretty simple," Adkisson says. Major tax software programs have added the new [Form 4547](https://www.irs.gov/pub/irs-pdf/f4547.pdf), which you need to file along with your return to open a Trump Account. If you don’t typically file or have already filed your taxes for 2025, there’s a [website](https://trumpaccounts.gov/) where you can sign up your baby for a Trump Account, as well. In general, though, experts advise filing an annual tax return even if you aren't legally required to. If you don't, you could [miss out](https://money.com/need-to-file-taxes/) on refundable tax credits and leave money on the table. Plus, it's a good habit to form: Helping your kid file taxes once they reach their teens [establishes](https://money.com/teen-file-tax-return/) a paper trail so they can begin contributing to a Roth IRA as soon as they get their first after-school or summer job. ## Should parents of older kids apply? For parents of kids born before 2025 who aren’t eligible for the $1,000 seed-money contribution, Adkisson says they should carefully consider what option makes the most sense for their circumstances and think about Trump Accounts in the context of their broader retirement- and tax-planning picture. Trump Accounts share [similar features](https://money.com/trump-accounts-for-kids/) with a few other types of tax-preferred investment accounts like traditional IRAs, custodial brokerage accounts and 529 plan accounts. Each has its own benefits and drawbacks; there are limits on how and when money deposited into them can be used, as well as financial penalties for not adhering to those rules. “The biggest question they should be asking is**,** are they utilizing all the other options they have that are tax-beneficial?” Adkisson advises. For instance, if you live in a state that allows you to take a tax deduction for contributions to a 529 plan, that might be a better option than a Trump Account if you have the funds to contribute to only one or the other. Conversely, some employers have announced that they will contribute to the Trump Accounts for employees’ kids. If your employer will be making contributions on behalf of workers, a Trump Account might make sense, especially since you can contribute an additional $2,500 in pre-tax dollars each year. There is one potential wrinkle for grandparents or other relatives who might be considering contributing to a child's Trump Account that remains to be ironed out. Adkisson notes that the government hasn't yet clarified how gifted contributions to these accounts will be categorized for tax purposes when calculating a donor's lifetime gift tax exemption. Finally, Adkisson says the most frequent question she's been fielding about Trump Accounts is about when money can actually be put into them. The answer: Not quite yet. Contributions to Trump Accounts will start being accepted after July 4, but Adkisson says it’s not a bad idea for parents to set up the accounts now, so they'll be ready to receive contributions in July. ### Rated A+ by the BBB ![Get Started](https://s3.consumersadvocate.org/prd/image/image/14979/medium_d9420f2c-6d0b-4726-b903-60fb37740830.png) Our Partner [Get Started](https://money.com/go/c8d92c5f372b?bidid=4074334882&pmeta=p129-c739-u28541&ptid=666839768&ptoken=81c45885159ec3f95d855f47358bf6d6) ### Over 15 years of Experience ![Get Started](https://s3.consumersadvocate.org/prd/image/image/36123/medium_d8e31451-10fb-4690-a053-85981545c371.webp) Our Partner [Get Started](https://money.com/go/ca5c942e6085?bidid=4074334886&pmeta=p129-c739-u28541&ptid=666839768&ptoken=bc6b61c37862665d1eb729ff0737b83c) ### 12+ years of tax resolution experience ![Get Started](https://s3.consumersadvocate.org/prd/image/image/19221/medium_21c467f5-9614-45a6-a827-5c1698cf1de6.png) Our Partner [Get Started](https://money.com/go/fb2082a829f8?bidid=4074334881&pmeta=p129-c739-u28541&ptid=666839768&ptoken=a4f40aec740b900179bb2b8eecec2ec7) ### 21+ years in service ![Get Started](https://s3.consumersadvocate.org/prd/image/image/37015/medium_cb5bc133-3b62-412b-9420-e17d1c5aaa63.webp) Our Partner [Get Started](https://money.com/go/4c9645315793?bidid=4074334884&pmeta=p129-c739-u28541&ptid=666839768&ptoken=997ad719e33024934208aee7e591db69) ### 24/7 Client Portal Access ![Get Started](https://s3.consumersadvocate.org/prd/image/image/38669/medium_134094f5-0d61-4290-98dd-6ea7bc5551c2.webp) Our Partner [Get Started](https://money.com/go/e61f1db58019?bidid=4074334883&pmeta=p129-c739-u28541&ptid=666839768&ptoken=94e13c6cd223d83605e4b7960ba12a8c) ![](https://s3.consumersadvocate.org/prd/image/image/14979/medium_d9420f2c-6d0b-4726-b903-60fb37740830.png) Owe over $10,000 in taxes? Get Tax Relief with Anthem now! [Get Started](https://money.com/pr/l978cd9f37e2?ap_referrer=%2Ftrump-accounts-tax-returns%2F) ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/trump-accounts-tax-returns/#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": "Parents Can Now Sign Up for Trump Accounts When Filing Taxes. Here's How" } ] }, { "@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-tax-returns/#webpage", "url": "https://money.com/trump-accounts-tax-returns/", "name": "Parents Can Now Sign Up for Trump Accounts When Filing Taxes. Here's How", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2026-03-02T14:30:38.000Z", "mainEntity": { "@id": "https://money.com/trump-accounts-tax-returns/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/trump-accounts-tax-returns/#breadcrumb" } }, { "@type": "NewsArticle", "headline": "Parents Can Now Sign Up for Trump Accounts When Filing Taxes. Here's How", "articleSection": "Investing", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2026/02/News-Trump-Account-File-Taxes.jpg", "width": 2880, "height": 1920, "caption": "News-Trump-Account-File-Taxes" } ], "author": [ { "@type": "Person", "name": "Martha C. White", "url": "https://money.com/author/martha-c-white/", "@id": "https://money.com/author/martha-c-white/#author", "image": "https://img.money.com/2014/01/martha.png?w=350&h=430&crop=1", "jobTitle": "Writer", "alumniOf": "BA, English, Princeton University", "worksFor": { "@id": "https://money.com/#organization" } } ], "publisher": "https://money.com/#organization", "datePublished": "2026-03-02T14:30:38.000Z", "description": "Filing taxes? You can open a Trump Account and claim a $1,000 baby investment credit at the same time.", "abstract": "Filing taxes? You can open a Trump Account and claim a $1,000 baby investment credit at the same time.", "@id": "https://money.com/trump-accounts-tax-returns/", "inLanguage": "en-US", "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": 785, "keywords": [ "News" ], "about": [ { "@type": "Thing", "name": "Investment", "sameAs": [ "https://en.wikipedia.org/wiki/Investment" ] } ] } ] } ```