STATEN ISLAND, N.Y. \u2014 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?<\/p>\n
The very first stipulation to qualify is that your child must be born between 2025 and 2028. <\/p>\n
In what is essentially an IRA for children, the accounts will officially activate on July 5, 2026 \u2014 but there is a step that needs to be taken in order to gain access.<\/p>\n
A parent or guardian of the prospective child must fill out the Internal Revenue Service Form 4547 (a nod to Trump\u2019s presidential numbers as the 45th and 47th president of the nation). <\/p>\n
Here\u2019s the information you\u2019ll need to fill out the form, according to the Trump Accounts official website:<\/a> <\/p>\n Parent\/Guardian\u2019s name Parent\/Guardian\u2019s Social Security NumberParent\/Guardian\u2019s birthday Parent\/Guardian\u2019s contact informationAddressPhone number Email addressChild\u2019s name Child\u2019s Social Security NumberChild\u2019s birthday Relationship between adult and child Parent\/Guardian\u2019s signature<\/p>\n \u201cUpon submission, your information will be securely sent directly to the IRS. You\u2019ll be contacted by a trustee with whom your Trump Account will be established, with further instructions on how to complete account setup,\u201d the website said.<\/a><\/p>\n The timeline to access a Trump Account depends on when you submit the form and are approved. <\/p>\n 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. <\/p>\n \u201cYou can invest the funds only in low-cost index funds: either mutual funds or ETFs that track an index of \u2018primarily\u2019 American stocks. At least 90% of the funds must be invested in U.S. firms,\u201d according to USA Today.<\/a> <\/p>\n