Treasury Secretary Scott Bessent launches Trump Accounts website to boost children’s savings

WASHINGTON, DC: Treasury Secretary Scott Bessent on Wednesday, December 17, unveiled a new federal website for the Trump Accounts program, marking the next phase of the Trump administration’s effort to promote long-term savings and market participation for American children.

The tax-deferred investment accounts, created under President Donald Trump’s 'One Big Beautiful Bill' signed earlier this year, provide every eligible child with a one-time $1,000 government contribution at birth, with families able to add additional funds over time.

Treasury outlines growth potential of Trump Accounts

Speaking at the Treasury Department, Bessent said the accounts are designed to demonstrate the power of compound growth over a lifetime.

He projected that a $1,000 investment made at birth could grow to more than $600,000 by retirement age if historical market growth rates continue.

For families that contribute up to $5,000 annually, Bessent said the balance could exceed $1 million over time.

Investments will be limited to authorized vehicles such as mutual funds or exchange-traded funds that track broad US equity indexes, including the S&P 500. Financial institutions managing the accounts will be capped at charging no more than 0.1% in annual fees.

Eligibility and enrollment details

Children who are US citizens born between January 1, 2025, and December 31, 2028, are eligible to receive the $1,000 government contribution.

Parents or guardians can enroll children by making an election when filing their federal tax return using a new IRS document, Form 4547.

Once the program officially launches on July 4, 2026, a participating financial institution will receive the funds and activate the account.

While no additional contributions are required, families and others may contribute up to $5,000 per year for children under 18 who have a Social Security number.

Funds generally cannot be withdrawn until the child reaches adulthood, except under limited, specified circumstances.

Ray Dalio joins 50-state philanthropic effort

Bessent also announced that billionaire hedge fund manager Ray Dalio, founder of Bridgewater Associates, has joined the administration’s new '50 State Challenge', a philanthropic initiative encouraging private donors to supplement the government seed funding.

Dalio and his wife, Barbara, said through Dalio Philanthropies that they will provide an additional $250 per child for approximately 300,000 children in Connecticut, representing a $75 million commitment.

Bessent said the contribution builds momentum for a broader nationwide effort to expand funding through partnerships with businesses and philanthropic organizations in every state.

Michael and Susan Dell donation sets early benchmark

Earlier this month, Michael and Susan Dell pledged $6.25 billion to deposit $250 into the Trump Accounts of 25 million children ages 10 and younger.

Treasury officials described the donation as the largest private commitment to US children in American history.

Bessent said the Dell contribution helped spur additional philanthropic interest and reinforced the administration’s goal of expanding ownership and market participation across income levels.

Administration frames program as generational investment

Bessent described Trump Accounts as a long-term economic policy aimed at broadening participation in the free market system.

He said the accounts are intended to help future generations benefit from productivity gains tied to emerging technologies such as artificial intelligence and automation, while encouraging families to view saving and investing as foundational financial tools.