How Trump Accounts work and who qualifies for the $1,000 federal deposit

The U.S. Treasury, in partnership with Robinhood and BNY Mellon, launched Trump Accounts on July 4, providing eligible children born between 2025 and 2028 with a $1,000 federal deposit into tax-advantaged investment accounts. Parents can contribute up to $5,000 annually per child, with employer contributions capped at $2,500, and tax service providers assist in initiating account setup through Form 4547.