Nearly 70 million kids now have a Trump Account—but parents have to claim it first. Here’s who gets the $1,000
Source: Fortune ·
The Treasury auto-enrolled more than 60 million children, and $4.5 billion has flowed in since July. But the government’s seed money only goes to kids born from 2025 through 2028, and the new stock gifts come with strings attached.
From the source
The Trump administration says nearly every child in America now has a Trump Account. Whether the money in those accounts ever adds up to much is a different question. The Treasury Department announced Oct. 1 that it had finished automatically enrolling eligible children in the tax-advantaged investment accounts, creating accounts for more than 60 million kids who didn’t already have one. Combined with the families who signed up on their own, that brings the total to nearly 70 million accounts, according to the White House. “Today, I’m pleased to announce that every single eligible minor child in America has now been automatically enrolled in a Trump Account,” President Donald Trump said at an Oval Office event on Oct. 7. But having an account doesn’t mean it’s ready to use. A parent or guardian still has to claim it through the official Trump Accounts app before they can manage it, accept contributions from family and friends, or collect the government’s $1,000 seed deposit for…