Treasury Completes Auto-Enrollment of 60 Million Children Into Trump Accounts on October 1
The U.S. Treasury Department completed the automatic enrollment of more than 60 million eligible children into Trump Accounts on October 1, 2026. Families must still claim the accounts to unlock a $1,000 government seed contribution.
WASHINGTON — The U.S. Treasury Department completed the automatic enrollment of more than 60 million eligible children into Trump Accounts on October 1, 2026, following the release of temporary IRS regulations the day before.
Trump Accounts, established under Internal Revenue Code Section 530A as part of the One, Big, Beautiful Bill Act, are tax-advantaged savings accounts for children under age 18. The accounts are designed to help families build long-term wealth.
The Treasury used a "master group trust" structure to create accounts for eligible children — those with a valid Social Security number who did not already have an account — without violating taxpayer privacy protections. The enrollment covered approximately 73.3 million children across 44 million families, with more than 60 million accounts created.
The accounts are currently in a passive state. To activate an account and unlock a one-time $1,000 government seed contribution, a parent or legal guardian must claim the account through the official TrumpAccounts.gov web portal or the Trump Accounts mobile application.
IRS Commissioner Frank Bisignano said in early October that up to 25 million accounts could be funded by mid-October 2026.
Once claimed, families can contribute up to $5,000 per year to the account. Employers can also contribute up to $2,500 annually. The $1,000 seed contribution is protected from offset or levy.
The accounts function similarly to traditional IRAs, with contributions growing tax-deferred. Funds can be used for qualified expenses including education, a first home purchase, or retirement.
Families who do not claim their accounts will not lose them. The accounts will remain in the master trust until claimed.
