Trump Accounts - 1/9/2026 by Steve Elliker

You may have heard of something called Trump Accounts. This is a new type of account for US Citizens under the age of 18 years old. They are similar to a traditional IRA, but one of the benefits is that the minor does not need to have earned income to make a contribution. It appears that they are not intended to be withdrawn from until at least 18. A total of $5,000 can be contributed each year and if the child is born between Jan 1, 2025 and Dec 31, 2028, the government will give a one-time funding of $1,000. It does not look like all of the details have been ironed out, but as of the time of this blog, it says that you can elect to open the Trump accounts during the filing of your 2025 tax return.