U.S. Treasury completes automatic enrollment of 60 million children in Trump Accounts

The U.S. Department of the Treasury has announced the completion of automatic enrollment for more than 60 million eligible children into Trump Accounts. As of October 1, 2026, every child under age 18 with a valid Social Security number has an account ready to be claimed by a guardian or legal custodian.

Trump Accounts are a new type of tax-deferred individual retirement account designed to help children build wealth. Under the program, U.S. citizens born between 2025 and 2028 may qualify for a one-time $1,000 government contribution once the account is properly claimed. While the Treasury initially serves as the responsible party for these automatically created accounts, family members and employers cannot make contributions until a guardian officially claims the account.

Prior to this automatic enrollment, participation rates were reported to be low. Research from the nonprofit Commonwealth indicated that only 5% of eligible low- to moderate-income families had opened accounts, citing confusion over eligibility, tax implications, and a lack of trust in the administration. Analysts from the Cato Institute noted that the complexity of rules regarding contribution limits and withdrawals has historically discouraged participation among households with limited financial literacy.