{"id":567,"date":"2026-08-14T13:41:41","date_gmt":"2026-08-14T18:41:41","guid":{"rendered":"https:\/\/www.getmypaymentillinois.org\/?p=567"},"modified":"2026-08-19T13:16:29","modified_gmt":"2026-08-19T18:16:29","slug":"trump-accounts-5-fast-facts-for-families","status":"publish","type":"post","link":"https:\/\/www.getmypaymentillinois.org\/es\/trump-accounts-5-fast-facts-for-families\/","title":{"rendered":"Trump Accounts: 5 Fast Facts for Families"},"content":{"rendered":"<style>.wp-block-kadence-advancedheading.kt-adv-heading567_9e5391-22, .wp-block-kadence-advancedheading.kt-adv-heading567_9e5391-22[data-kb-block=\"kb-adv-heading567_9e5391-22\"]{font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading567_9e5391-22 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading567_9e5391-22[data-kb-block=\"kb-adv-heading567_9e5391-22\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading567_9e5391-22 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading567_9e5391-22[data-kb-block=\"kb-adv-heading567_9e5391-22\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h2 class=\"kt-adv-heading567_9e5391-22 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading567_9e5391-22\">What Is a Trump Account? Get a Free $1,000 In Seed Money<\/h2>\n\n\n\n<p>A Trump Account (or 530A) is a free investment account for children under 18, created to give kids a financial head start.&nbsp;<\/p>\n\n\n\n<p>Children born between January 1, 2025 and December 31, 2028 may qualify for a $1,000 contribution from the federal government once their family completes enrollment. Children under 10 may also be eligible for seed money from a charitable donation.<\/p>\n\n\n\n<p>Funds are invested in a U.S. stock market fund and can grow over time\u2013possibly up to $6,000 by the time your kids are 18 and nearly $300,000 when they retire*. No cost or investment is required by parents to receive the $1,000.<\/p>\n\n\n\n<p class=\"has--font-size\">Yes, it\u2019s legit. It was passed by Congress in 2025. Here\u2019s the breakdown, including how to enroll:<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading567_70e083-01, .wp-block-kadence-advancedheading.kt-adv-heading567_70e083-01[data-kb-block=\"kb-adv-heading567_70e083-01\"]{font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading567_70e083-01 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading567_70e083-01[data-kb-block=\"kb-adv-heading567_70e083-01\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading567_70e083-01 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading567_70e083-01[data-kb-block=\"kb-adv-heading567_70e083-01\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h3 class=\"kt-adv-heading567_70e083-01 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading567_70e083-01\">2. Your Child Must Have a Social Security Number<\/h3>\n\n\n\n<p>To qualify:<\/p>\n\n\n<style>.wp-block-kadence-iconlist.kt-svg-icon-list-items567_84dbb4-c7:not(.this-stops-third-party-issues){margin-top:0px;margin-bottom:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items567_84dbb4-c7 ul.kt-svg-icon-list:not(.this-prevents-issues):not(.this-stops-third-party-issues):not(.tijsloc){margin-top:0px;margin-right:0px;margin-bottom:var(--global-kb-spacing-sm, 1.5rem);margin-left:0px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items567_84dbb4-c7 ul.kt-svg-icon-list{grid-row-gap:5px;}.wp-block-kadence-iconlist.kt-svg-icon-list-items567_84dbb4-c7 ul.kt-svg-icon-list .kt-svg-icon-list-item-wrap .kt-svg-icon-list-single{margin-right:10px;}.kt-svg-icon-list-items567_84dbb4-c7 ul.kt-svg-icon-list .kt-svg-icon-list-level-0 .kt-svg-icon-list-single svg{font-size:20px;}<\/style>\n<div class=\"wp-block-kadence-iconlist kt-svg-icon-list-items kt-svg-icon-list-items567_84dbb4-c7 kt-svg-icon-list-columns-1 alignnone kt-list-icon-aligntop\"><ul class=\"kt-svg-icon-list\"><style>.kt-svg-icon-list-item-567_1c03e2-ad .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-567_1c03e2-ad\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_checkCircle kt-svg-icon-list-single\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"\/><polyline points=\"22 4 12 14.01 9 11.01\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Child must be under age 18<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-567_f73d8f-95 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-567_f73d8f-95\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_checkCircle kt-svg-icon-list-single\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"\/><polyline points=\"22 4 12 14.01 9 11.01\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Child must have a valid Social Security Number (SSN)<\/span><\/li>\n\n\n<style>.kt-svg-icon-list-item-567_9f4900-a9 .kt-svg-icon-list-text mark.kt-highlight{background-color:unset;font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}<\/style>\n<li class=\"wp-block-kadence-listitem kt-svg-icon-list-item-wrap kt-svg-icon-list-item-567_9f4900-a9\"><span class=\"kb-svg-icon-wrap kb-svg-icon-fe_checkCircle kt-svg-icon-list-single\"><svg viewBox=\"0 0 24 24\"  fill=\"none\" stroke=\"currentColor\" stroke-width=\"2\" stroke-linecap=\"round\" stroke-linejoin=\"round\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"  aria-hidden=\"true\"><path d=\"M22 11.08V12a10 10 0 1 1-5.93-9.14\"\/><polyline points=\"22 4 12 14.01 9 11.01\"\/><\/svg><\/span><span class=\"kt-svg-icon-list-text\">Parent or guardian can have either a Social Security Number (SSN) or an Individual Taxpayer Identification Number (ITIN)<\/span><\/li>\n<\/ul><\/div>\n\n\n\n<p>A guardian, parent, adult sibling, grandparent, or other authorized adult may be able to open the account depending on the situation.<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading567_107efd-f5, .wp-block-kadence-advancedheading.kt-adv-heading567_107efd-f5[data-kb-block=\"kb-adv-heading567_107efd-f5\"]{font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading567_107efd-f5 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading567_107efd-f5[data-kb-block=\"kb-adv-heading567_107efd-f5\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading567_107efd-f5 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading567_107efd-f5[data-kb-block=\"kb-adv-heading567_107efd-f5\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h3 class=\"kt-adv-heading567_107efd-f5 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading567_107efd-f5\">3. How to Open <strong>a Trump Account for Your Child: Enrollment Steps<\/strong><\/h3>\n\n\n\n<p>A Trump Account is NOT automatically activated. Families must sign up.<\/p>\n\n\n\n<p><strong>How to enroll<\/strong>:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Use the official site: <a href=\"http:\/\/trumpaccounts.gov\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">TrumpAccounts.gov<\/a><\/li>\n\n\n\n<li>Or file Internal Revenue Service <a href=\"https:\/\/www.irs.gov\/pub\/irs-pdf\/i4547.pdf\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">(IRS) Form 4547<\/a><\/li>\n<\/ul>\n\n\n\n<p>After enrolling, the U.S. Department of the Treasury will send instructions to activate the account.<\/p>\n\n\n\n<p><strong>Important:<\/strong> If more than one adult can claim the child on taxes, talk to each other first so you don&#8217;t both try to enroll. Only one family member should create the account, and only the person who will claim the child as their <a href=\"https:\/\/www.irs.gov\/help\/ita\/whom-may-i-claim-as-a-dependent\" rel=\"nofollow\">qualifying child <\/a>for tax purposes in the following year- generally the person who financially took care of the child living with them over 50% of the year- should claim the $1000 in seed money. This can be the same person!<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading567_9afb1f-48, .wp-block-kadence-advancedheading.kt-adv-heading567_9afb1f-48[data-kb-block=\"kb-adv-heading567_9afb1f-48\"]{font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading567_9afb1f-48 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading567_9afb1f-48[data-kb-block=\"kb-adv-heading567_9afb1f-48\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading567_9afb1f-48 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading567_9afb1f-48[data-kb-block=\"kb-adv-heading567_9afb1f-48\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h3 class=\"kt-adv-heading567_9afb1f-48 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading567_9afb1f-48\">4. The Money Grows Until Adulthood<\/h3>\n\n\n\n<p>The account is designed for long-term savings.<\/p>\n\n\n\n<p>Money is invested in a low-cost stock market index fund.<\/p>\n\n\n\n<p>Children generally cannot spend the money while they are minors. At age 18 the account will automatically roll over to a traditional IRA which will continue to grow. Funds can also be withdrawn early penalty free for specific purchases by the child.<\/p>\n\n\n\n<p>Historically, stock market investments increase over long periods of time, but investment returns are never guaranteed.<\/p>\n\n\n\n<p>Example estimates based on historical market averages:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>$1,000 at birth could grow to about $6,000 by age 18<\/li>\n\n\n\n<li>About $15,000 by age 27<\/li>\n\n\n\n<li>About $243,000 by age 55<\/li>\n<\/ul>\n\n\n\n<p><strong>* Important<\/strong>: Actual results may be higher or lower.<\/p>\n\n\n<style>.wp-block-kadence-advancedheading.kt-adv-heading567_4528ad-26, .wp-block-kadence-advancedheading.kt-adv-heading567_4528ad-26[data-kb-block=\"kb-adv-heading567_4528ad-26\"]{font-style:normal;}.wp-block-kadence-advancedheading.kt-adv-heading567_4528ad-26 mark.kt-highlight, .wp-block-kadence-advancedheading.kt-adv-heading567_4528ad-26[data-kb-block=\"kb-adv-heading567_4528ad-26\"] mark.kt-highlight{font-style:normal;color:#f76a0c;-webkit-box-decoration-break:clone;box-decoration-break:clone;padding-top:0px;padding-right:0px;padding-bottom:0px;padding-left:0px;}.wp-block-kadence-advancedheading.kt-adv-heading567_4528ad-26 img.kb-inline-image, .wp-block-kadence-advancedheading.kt-adv-heading567_4528ad-26[data-kb-block=\"kb-adv-heading567_4528ad-26\"] img.kb-inline-image{width:150px;vertical-align:baseline;}<\/style>\n<h3 class=\"kt-adv-heading567_4528ad-26 wp-block-kadence-advancedheading\" data-kb-block=\"kb-adv-heading567_4528ad-26\">5. The Account Belongs to the Child<\/h3>\n\n\n\n<p>At age 18, the young adult takes control of the account.<\/p>\n\n\n\n<p>Funds may be used for certain qualified purposes under federal rules for Individual Retirement Account (IRA) withdrawals, such as:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Higher education<\/li>\n\n\n\n<li>A first home purchase<\/li>\n\n\n\n<li>Starting a business<\/li>\n<\/ul>\n\n\n\n<p><strong>Important<\/strong>: Withdrawals are subject to some taxes and other restrictions.<\/p>\n\n\n\n<p>Even if you already filed taxes for the year, you can claim your child\u2019s money today!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Trump Account (530A) is a free investment account created by Congress to give children under 18 a financial head start. Eligible kids born between 2025 and 2028 can receive $1,000 in free government seed money to invest for the future. Discover who qualifies, how the money grows, and how to enroll your child today.<\/p>","protected":false},"author":8,"featured_media":574,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Trump Accounts (530A): 5 Fast Facts & How to Get Free $1,000 for Your Child","_seopress_titles_desc":"Learn how Trump Accounts (530A) give eligible children up to $1,000 in free government seed money. Discover rules, potential growth, and enrollment steps.","_seopress_robots_index":"","_kad_blocks_custom_css":"","_kad_blocks_head_custom_js":"","_kad_blocks_body_custom_js":"","_kad_blocks_footer_custom_js":"","_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"_kad_post_classname":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"taxonomy_info":{"category":[{"value":1,"label":"General"}]},"featured_image_src_large":["https:\/\/www.getmypaymentillinois.org\/wp-content\/uploads\/2026\/08\/mom-holding-child-trump-accounts-article-08.2026-featured-image.jpg",1500,1000,false],"author_info":{"display_name":"Kerry Skrobo","author_link":"https:\/\/www.getmypaymentillinois.org\/es\/author\/baecb57a5242306d\/"},"comment_info":"","category_info":[{"term_id":1,"name":"General","slug":"general","term_group":0,"term_taxonomy_id":1,"taxonomy":"category","description":"","parent":0,"count":12,"filter":"raw","cat_ID":1,"category_count":12,"category_description":"","cat_name":"General","category_nicename":"general","category_parent":0}],"tag_info":false,"_links":{"self":[{"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/posts\/567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/comments?post=567"}],"version-history":[{"count":4,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/posts\/567\/revisions"}],"predecessor-version":[{"id":577,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/posts\/567\/revisions\/577"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/media\/574"}],"wp:attachment":[{"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/media?parent=567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/categories?post=567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.getmypaymentillinois.org\/es\/wp-json\/wp\/v2\/tags?post=567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}