You can open a Trump account by:

1. Completing IRS Form 4547 (Trump Account Election)
2. Using the online tool at trumpaccounts.gov (available mid-2026)…

A Trump account can be opened by an authorized individual. The authorized individual must be, in order of priority:

1. Legal guardian
2. Parent…

The account ceases to be a Trump account as of the date of death. The fair market value (reduced by basis) becomes taxable income to the person who inherits the account…

No, qualified rollover contributions must transfer the entire Trump account balance…

Yes, during the growth period, you can transfer the entire account balance to a rollover Trump account at another approved trustee. This is called a "qualified rollover contribution."…

Generally no, funds can not be held in cash or a money market fund in a Trump account but cash can be held temporarily while waiting to invest in an eligible investment…

A Trump account is a special type of traditional IRA established for children under age 18. It is designed to help families build long-term savings for their children's future. The account has unique rules during the "growth period" (until the child turns 18) and then operates like a traditional IRA afterward…

No, unlike traditional IRAs, Trump accounts do not require the child to have earned income during the growth period…

The federal government has introduced an innovative savings vehicle designed to help families build long-term wealth for their children. Trump accounts, established under the One, Big, Beautiful Bill Act, (OBBBA) combine the tax advantages of traditional IRAs with special features tailored for children under 18…

No, contributions to Trump accounts are not tax-deductible. However, contributions from personal sources create basis in the account, meaning those amounts will not be taxed when distributed later…

A Trump account is available to any individual who:

• Has not turned 18 before the end of the calendar year the account is opened
• Has a valid Social Security number…

Yes, but the total employer contributions for all of your children combined cannot exceed $2,500 per year…

Generally no you can not withdraw money from a Trump account before my child turns 18. During the growth period, distributions are prohibited except for:

• Qualified rollovers to another Trump account
• Qualified ABLE rollovers (only during the year the child turns 17)…

After the growth period ends (January 1 of the year the child turns 18), the Trump account operates like a traditional IRA. Distributions become available but may be subject to:

• Ordinary income tax on earnings and non-basis amounts
• 10% early withdrawal penalty (unless an exception applies, such as for education or first home purchase)…

The trustee of the Trump account must monitor investments and, if a fund becomes ineligible, sell it and reinvest the proceeds in another eligible investment…