Update – May 27, 2026: Several things have moved since this was published. Treasury announced April 6 that Bank of New York Mellon will serve as Treasury's financial agent and Robinhood as brokerage and initial trustee. The Trump Accounts app is expected in the Apple App Store and Google Play on May 28. Treasury Secretary Bessent now says nearly 6 million children have accounts set up. The default investment at launch will be a broad S&P 500 ETF, with options limited to very low-cost broad U.S. equity index funds. Contributions still officially open July 4.
Since Form 4547 became available in January, the momentum has been remarkable. A Super Bowl ad, tax-season publicity, and broad bipartisan interest in children's savings pushed enrollment to nearly 3 million children by the first half of February, according to Treasury Secretary Scott Bessent (covering roughly 2 million Form 4547 filings, per secondary reporting). If you're one of those families, you may be wondering: what now?
Here's a month-by-month guide to what happens between now and when Trump Accounts officially open for contributions on July 4, 2026.
Where things stand today (March 2026)
If you've filed Form 4547 – either with your 2025 tax return or electronically at form.trumpaccounts.gov – your election is being processed by the IRS and Treasury. There's nothing else you need to do right now.
On March 9, Treasury published the first proposed regulations for Trump Accounts, which formalized the account opening rules and $1,000 pilot contribution mechanics. These are proposed rules, not final – but they confirm the basic framework families can plan around.
A few key things the regulations clarified:
One funded account per child. Your child can only have one Trump Account containing money at any time. This is the initial Treasury-held account unless and until you roll it over.
The $1,000 pilot deposit can go to a rollover account. If you later transfer to a private custodian, for example, a bank or brokerage that accepts Trump Accounts, the government contribution can follow.
No automatic enrollment. Every family must opt in – Treasury cannot open accounts on its own.
April 2026: Tax season wraps up
The standard tax filing deadline is April 15, 2026. If you haven't yet filed Form 4547, this is the simplest way to do it – include it with your federal return through your tax software. Most major tax preparation platforms support the form electronically.
If you miss the April 15 deadline, you can still file Form 4547 separately at any time – it's not tied to your tax return. File it at form.trumpaccounts.gov or mail a paper copy to the IRS address for your state.
Don't rush if you're not ready. The regulations confirm a broad election window: you can claim the $1,000 pilot contribution anytime through December 31 of the year your child turns 17. There is no penalty for waiting. However, the $1,000 will not begin to accrue earnings until it is in a Trump Account.
May 2026: Activation letters from Treasury
Treasury has indicated it will begin sending activation instructions to families starting in May 2026. While detailed mechanics haven't been published, here's what to expect based on current guidance:
Identity verification. Treasury will need to verify the identity of the authorized individual (the person who filed Form 4547) as part of the account activation process. This may involve matching information against existing IRS records.
Account setup steps. You may be asked to confirm details, designate investment preferences, or complete additional authentication before the account can accept contributions.
Watch your mail and email. Make sure the address you provided on Form 4547 is current. If you've moved since filing, update your address with the IRS.
The activation process is required before contributions can be made – filing Form 4547 alone doesn't complete the setup.
June 2026: Prepare your contribution strategy
With the July 4 opening date approaching, June is the time to plan how much you want to contribute and where the money will come from.
Annual contribution limits
$5,000 per child per year – this is the combined cap across all private contributors (parents, grandparents, relatives, friends)
Employer contributions of up to $2,500 per year count toward the $5,000 total, but are tax-free to the employee
Government and nonprofit contributions (including the $1,000 pilot deposit) do not count toward the $5,000 cap
Announced employer, corporate, nonprofit, and philanthropic contributions
The list of companies committing to Trump Account contributions has grown quickly. Over 30 employers across finance, tech, food service, telecom, and media have announced some form of support. Here are companies that have publicly committed to matching the government's $1,000 for eligible employee children born 2025-2028:
JPMorgan Chase, Bank of America, Citi, Charles Schwab, BlackRock, State Street, Bank of New York Mellon, Wells Fargo, SoFi, Robinhood, Empower, Acorns, Invesco, Russell Investments, Intel, Coinbase, Replit, Chipotle, Fox Corporation, News Corporation, Steak 'n Shake, Chime, Dell Technologies, and the Investment Company Institute.
Nvidia, Uber, Visa, Mastercard, Comcast, Charter Communications, and Broadcom have committed to employee contributions but haven't specified amounts yet.
Some companies are planning even more beneficial matching programs. For example, IBM offers $1,000 for U.S. employees' children, plus another $1,000 when parents contribute $4,000 or more within 24 months of the child's birth, or by July 2026, whichever is later.
This is a selected list as of March 2026. Americans for Tax Reform maintains a rolling tracker with the current full list (45+ contributors as of late April).
Geographic and state contributions – you may qualify based on where you live
Several commitments are tied to location rather than employment:
Michael and Susan Dell Foundation: $6.25 billion to fund $250 deposits for up to 25 million children age 10 and under in ZIP codes where median family income is under $150,000. Expected to cover 75% of U.S. postal codes.
Ray and Barbara Dalio: $250 per child for approximately 300,000 Connecticut children.
Brad Gerstner (Altimeter Capital): $250 per Indiana child under age 5.
Kraken: Contributions for all children born in Wyoming in 2026.
Anonymous San Francisco donor: $500 per eligible child born in San Francisco in 2026.
Oklahoma Dream Accounts (state government): $250 per eligible Oklahoma child. Governor Kevin Stitt signed HB 4071 into law in April 2026, appropriating $12.5 million.
These geographic and state contributions are funded through nonprofits and government entities, so they do not count toward the $5,000 annual family contribution cap.
Check with your employer
Even if your company isn't on the list above, ask your HR department whether they plan to offer Trump Account contributions as an employee benefit. Under Section 128 of the tax code, employer contributions (up to $2,500 per year) are excluded from your taxable income and are generally deductible for the company. Detailed IRS guidance on employer contribution programs is expected later in 2026. The full list of committed employers is maintained by Americans for Tax Reform.
July 4, 2026: Contributions open
This is the date contributions can first be deposited into Trump Accounts. Here's what's expected to happen:
Your initial account is held by Treasury. All Trump Accounts start at Treasury, administered by Bank of New York Mellon as Treasury's financial agent, with Robinhood serving as brokerage and initial trustee (publicly announced April 6, 2026).
The $1,000 pilot deposit will be processed for eligible children whose elections have been filed and approved.
Family contributions can begin. You'll be able to deposit up to $5,000 for the 2026 calendar year (minus any employer contributions already made toward that child).
Investments
During the growth period (through the end of the year your child turns 17), contributions must be invested in low-fee index funds or ETFs tracking U.S. equities – such as S&P 500 index funds – with annual management fees capped at 0.10%. Cash holdings and money market funds are not permitted during the growth period except temporarily for dividends or sale proceeds.
The March proposed regulations left detailed investment rules in a “reserved” section, but Treasury has since announced operational details for the launch app: a broad S&P 500 ETF as the default, with options limited to very low-cost broad U.S. equity index funds (see the update note at the top of this article).
After launch: Rolling over to a private custodian
Once your account is funded at Treasury, you'll have the option to transfer it to a private financial institution through a qualified rollover contribution. This is how you'd move the account to a brokerage like Fidelity, Schwab, or Vanguard.
What we know:
Any entity approved as a nonbank IRA trustee as of December 31, 2025, is automatically approved to serve as a Trump Account custodian
A rollover Trump Account must be funded by the rollover before it can receive any other contributions
The $1,000 pilot deposit can be made to a rollover account (so you don't have to keep it at Treasury)
What we don't know:
The specific mechanics of the rollover process – Treasury has said it will release sample rollover language in future guidance
Which brokerages will announce Trump Account offerings and when
Whether there will be a transition period or if rollovers will be available immediately
We expect more clarity on the rollover process as the July launch date approaches.
Checklist: What to do and when
Now — Verify your Form 4547 was filed. If not, file at form.trumpaccounts.gov or with your tax return.
April 15 — Last day to include Form 4547 with your 2025 tax return (you can still file the form separately anytime after).
May — Watch for the Treasury activation letter. Complete any identity verification or account setup steps.
June — Decide how much to contribute in 2026. Ask your employer about Trump Account benefits.
July 4 — Contributions open. Fund the account up to $5,000 for the year.
After July — Consider rolling over to a preferred brokerage once the process is available.
Haven't filed yet?
If you haven't filed Form 4547, there's no cause for alarm. The election window is broad, and contributions don't open until July anyway. Read our complete guide to Form 4547 for step-by-step instructions, or go directly to form.trumpaccounts.gov to file electronically.
If your child was born between 2025 and 2028, make sure the form is filed by a parent or legal guardian – not a grandparent or other relative – to preserve eligibility for the $1,000 pilot contribution. (See our regulations explainer for why this matters.)
The bottom line
The hard part is done – you've signed up. The next few months are about watching for your activation letter, planning your contribution strategy, and waiting for July. We'll continue to publish updates as Treasury releases additional guidance on investments, rollovers, and employer contribution programs.
Sign up for email alerts so you don't miss anything. Trump Accounts are a welcome development for household savings, but most industry experts emphasize that 529s are superior for future education savings. Learn about the benefits of 529 education savings plans at savingforcollege.com.
TrumpAccounts.com is an independent information resource and is not affiliated with the IRS, Treasury Department, or any financial institution.