Trump accounts can be set up for children under age 18 who have a Social Security number. Beginning July 4, 2026, up to $5,000 can be contributed to the account each year. The government will also put in $1,000 for each kid born in 2025-28. Most contributions are not deductible. Payouts cannot be taken while the beneficiary is under 18. After that, distributions are taxed in a manner akin to rules that apply to traditional IRA payouts. Parents must elect to open a Trump accou
