Treasury Auto-Enrolls 60 Million Children in Trump Accounts

The United States Department of the Treasury announced rules on September 29 to automatically enroll more than 60 million children under age 18 into Trump Accounts. This shift replaces a manual sign-up system that had reached fewer than 8% of eligible children by late July. To bypass legal constraints regarding individual data, the Treasury will utilize a master group trust. While accounts are created automatically, parents must still claim them to receive a $1,000 federal contribution available for children born between 2025 and 2028.

Established under the One Big Beautiful Bill signed by President Donald Trump in July 2025, these tax-deferred vehicles transition into traditional individual retirement accounts when the child reaches 18. The Social Security Administration will further support the initiative by enrolling newborns during hospital birth registration. Treasury Secretary Scott Bessent indicated that total participation could soon reach 70 million.

To manage the program, the Internal Revenue Service hired Joseph Velli as a senior advisor to CEO Frank Bisignano. The accounts are managed through Robinhood and the Bank of New York Mellon. Additionally, the Treasury created a framework allowing private donors to contribute appreciated stock via charities to avoid capital-gains taxes, provided the stocks are held for five years. Michael S. Dell has already pledged $6.25 billion to the program.