Trump Accounts: Your Launch-Day FAQ

Getting Started

Q: What actually happened today?

Treasury announced the official, full-scope nationwide launch of the Trump Accounts app. Families can now securely access their account, see funds in real time, and contribute directly from a phone or tablet. Treasury Secretary Scott Bessent called it a milestone that gives every child “a stake in the American Dream from day one.”

Q: Is there a cost to open a Trump Account?

No. Treasury has confirmed there is no cost to open an account.

Q: How do I sign up?

Visit TrumpAccounts.gov to review eligibility, safeguards, and program features, and to link directly to the official Trump Accounts app in major app stores.

Q: When can my child start seeing their account activity?

Once enrolled, parents can begin contributing right away. Children will be able to track their own investments starting Monday, July 6, using simple performance graphs built into the app.

The App and Financial Education

Q: What can the app actually do?

•      New account dashboards showing balances, contributions, and investment performance

•      The ability to set up recurring contributions

•      Bank account linking

•      Personalized guidance for parents on building their child's financial future

Q: Is there anything for kids to actually learn from, or is this just a savings account?

Treasury has built in 15 interactive financial education modules covering saving, investing, compound growth, diversification, and how U.S. capital markets support businesses and jobs. Parents and kids can go through the modules together inside the app and apply the lessons directly to their own account — the idea is to connect real dollars to real financial literacy rather than treating it as an abstract lesson.

Where the Money Is Invested

Q: What is my contribution actually invested in?

At launch, every contribution is invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM), a low-cost fund tracking the S&P 500 that Treasury selected specifically to keep expenses well under the statutory fee cap.

Q: Will I eventually be able to choose a different fund?

Yes — Treasury has already named four additional low-cost index funds that will become available as investment options in the coming months, once fund-election functionality is built into the app:

•      iShares Core S&P 500 ETF (IVV)

•      Vanguard Total Stock Market ETF (VTI)

•      State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)

•      iShares Core S&P Total U.S. Stock Market ETF (ITOT)

Until that election functionality goes live, all contributions — for every account — stay invested in the default SPYM fund. Treasury has said it will announce when the ability to reallocate becomes available, along with instructions for making the change.

Employer Contributions

Q: Can my employer contribute to my child's account?

Possibly — over 50 companies have already committed to offering Trump Account contributions for employees' children, on top of whatever the family or Treasury contributes. It's worth asking your HR or benefits team directly.

Q: I run a business — how do I get involved?

Treasury describes this as a low-cost, tax-preferred benefit small businesses can use to attract and retain workers. If you're a business owner interested in offering it, Treasury asks that you reach out directly to TrumpAccounts@treasury.gov.

Contribution Limits and Tax Treatment

Quick Reference

•      Family and friends: up to $5,000 combined per child, per year

•      Employers: up to $2,500 per employee's dependent child, per year (counts toward the $5,000 cap)

•      Federal pilot deposit: a one-time $1,000 for eligible children born 2025–2028 — does not count against the cap

Q: Are my contributions tax-deductible?

No. Contributions are made with after-tax dollars. What you do get is tax-deferred growth — investment gains inside the account aren't taxed year to year the way they would be in a regular brokerage account.

Q: What happens tax-wise when the money eventually comes out?

Contributions from parents, grandparents, and friends were already taxed going in, so that portion comes out tax-free. Growth on those contributions, along with the government seed money and employer contributions, is taxed as ordinary income when withdrawn, under standard traditional IRA rules.

Q: What about gift taxes on contributions from grandparents or other family?

There are some favorable gift and estate tax considerations here, though a few technical questions are still being finalized at the Treasury level. If you're doing meaningful multi-generational gifting, it's worth a conversation with our office before settling on a contribution strategy.

A Note on Pending Guidance

Investment-election functionality, certain gift tax mechanics, and a few other operational details are still being rolled out or finalized. We're monitoring Treasury and IRS releases closely and will update clients as things develop.

What We Recommend Doing This Week

•      Enroll at TrumpAccounts.gov if you haven't already, and download the app.

•      Check whether your child qualifies for the $1,000 federal pilot deposit.

•      Ask your employer whether they're offering a contribution match.

•      Coordinate contributions across grandparents, parents, and any employer program so you stay within the $5,000 annual cap.

•      Revisit how a Trump Account fits alongside your existing 529 plan or estate plan.

Let's Build This Into Your Family's Plan

Trump Accounts are brand new, and Treasury is still rolling out features. Our team can help you decide whether — and how much — to contribute, coordinate it with your 529 or estate plan, and keep you ahead of what's still to come.

SCHEDULE A PLANNING CONVERSATION

This article is for general educational purposes and does not constitute tax, legal, or financial advice. Program features, investment options, and guidance continue to evolve. Please contact GCAAG to discuss your specific situation before acting on any strategy described here.