Need a 'Trump account' for your child? The Social Security Administration has set up automatic enrollment.

By Alessandra Malito

Parents will be able to sign a child up for the investment account at birth

The Social Security Administration is helping parents open "Trump accounts" for their newborns.

The Social Security Administration is providing another way for parents to sign up their newborn babies for "Trump accounts," the investment vehicles for children that officially launched this month.

The accounts, which were created as part of last year's Working Families Tax Cuts legislation, are similar to individual retirement accounts for children under age 18. Parents could begin making contributions beginning on July 4, and babies born between Jan. 1, 2025, and Dec. 31, 2028, will get a $1,000 contribution from the government.

There's an app and a website for the accounts, which are formally known as 530A accounts. Parents were able to file the paperwork to establish the accounts for their children when they filed their 2025 income taxes, and they can still do so by filling out Form 4547 with the IRS.

Because a child needs a valid Social Security number? to have one of the new accounts, the Social Security Administration said it has created an automatic-enrollment system for newborns in an effort to streamline the process. Hospitals already work with the agency to assign Social Security numbers to newborns under a program known as Enumeration at Birth. The Social Security Administration said it will help states with their hospital forms to include "the automatic creation" of a Trump account.

"Social Security numbers are the backbone of Trump Accounts, and we will empower parents to enroll their newborns through the Enumeration at Birth program to take full advantage of this program from the day a child is born," Social Security Commissioner Frank Bisignano said in the announcement about the initiative.

"Social Security will update its webpages and publications with Trump Account enrollment details," the agency said. "[The Social Security Administration] will also work closely with its national network of external partners and stakeholders to disseminate information about Trump Accounts."

The agency also announced recently that it is marking the country's 250th birthday with commemorative Social Security cards for children born between July 2 and Dec. 31 this year. Those Social Security cards will feature the Freedom 250 logo and will be issued as part of the Enumeration at Birth program. Freedom 250 is a Trump administration initiative to promote the country's semiquincentennial.

U.S. children who are not yet 18 are eligible for Trump accounts. So far, 6 million children have been enrolled in these accounts, the Social Security Administration said.

The accounts allow for a maximum of $5,000 in annual contributions, and after the account holder turns 18, they can use the money in their account for purposes such as education expenses or buying a home, although they will pay taxes on any pretax contributions and on investment returns. Those who want to turn their account into a long-term retirement plan can convert it to a Roth account at age 18, which would allow them to withdraw money tax-free in retirement, without having to make required minimum distributions.

-Alessandra Malito

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07-06-26 1253ET