STATEN ISLAND, N.Y. — After the Trump Accounts Super Bowl ad spurred some confusion, many Americans were left wondering: How do I get the $1,000 for my child?
The very first stipulation to qualify is that your child must be born between 2025 and 2028.
In what is essentially an IRA for children, the accounts will officially activate on July 5, 2026 — but there is a step that needs to be taken in order to gain access.
A parent or guardian of the prospective child must fill out the Internal Revenue Service Form 4547 (a nod to Trump’s presidential numbers as the 45th and 47th president of the nation).
Here’s the information you’ll need to fill out the form, according to the Trump Accounts official website:
Parent/Guardian’s name Parent/Guardian’s Social Security NumberParent/Guardian’s birthday Parent/Guardian’s contact informationAddressPhone number Email addressChild’s name Child’s Social Security NumberChild’s birthday Relationship between adult and child Parent/Guardian’s signature
“Upon submission, your information will be securely sent directly to the IRS. You’ll be contacted by a trustee with whom your Trump Account will be established, with further instructions on how to complete account setup,” the website said.
The timeline to access a Trump Account depends on when you submit the form and are approved.
The $1,000 put into the account comes from the government, but other contributions that max out at $5,000 a year can be made to bolster it.
“You can invest the funds only in low-cost index funds: either mutual funds or ETFs that track an index of ‘primarily’ American stocks. At least 90% of the funds must be invested in U.S. firms,” according to USA Today.
Note that the original $1,000 “doesn’t count toward the annual limit, nor do contributions from governments and charities.”
The account will become accessible to the child on Jan. 1 the year they turn 18, though there is some contestation about this point, as 18 is the legal age of an adult in the United States — not 17.