American taxpayers have signed up over 4 million children to the tax-advantaged Trump Accounts, and more than 1 million of those accounts have elected to receive the $1,000 pilot contribution from the government, the IRS said in a March 31 statement.
“Contributions to Trump Accounts can be made starting July 4, 2026. All eligible children may receive deposits from parents, relatives, friends, employers, state governments, philanthropic organizations, and individuals, subject to an annual limit,” the IRS said.
The Trump Accounts, formally the Invest America accounts, were established under the One Big Beautiful Bill Act signed into law by President Donald Trump in July last year.