Treasury Secretary Bessent Launches Trump Accounts Mobile App

Treasury Secretary Scott Bessent announced on May 27, 2026, that a mobile application for Trump Accounts would launch the following day on all major platforms. These accounts function as IRA-style savings vehicles for children, offering tax-deferred growth and a combined annual contribution limit of $5,000 from parents, relatives, and employers.

To qualify, children must be U.S. citizens under age 18 with a valid Social Security number. The federal government will provide a $1,000 contribution to accounts for children born between January 1, 2025, and December 31, 2028. Nearly 6 million children have already established accounts.

Developed by Robinhood Markets Inc. and the Bank of New York, the app enables parents to manage balances and select low-cost U.S. stock index funds and ETFs. While the app launches with financial literacy modules, official investing and federal seed money deposits are scheduled to begin on July 4, 2026.