Trump Accounts Reach Six Million Enrolled Children as Federal Deposits Begin July 2026
The Trump Accounts program, established by the One Big Beautiful Bill signed July 4, 2025, has enrolled six million children through a combination of IRS tax-return elections and Social Security Administration newborn auto-enrollment, with the $1,000 federal pilot deposit and contribution window officially opening July 4, 2026. IRS guidance has confirmed the $5,000 annual contribution cap, a default S&P 500-tracking investment menu, and a pre-age-18 withdrawal restriction, while Form 4547 filed with a standard tax return serves as the enrollment mechanism. Two significant gaps remain: state income tax conformity is unresolved across the 42 states with income taxes, and final regulations on employer contribution mechanics have not yet been issued.