A new app for the upcoming Trump account launched this week.
The Treasury Department said Thursday that the next phase of rolling out Trump’s accounts, which are new investment options for children launching July 4, includes rolling out an app and encouraging parents to open accounts once they sign up.
“The Trump Accounts app delivers an easy, secure way for households to begin engaging with a program designed to build long-term financial strength from Day One,” Treasury Secretary Scott Besent said in a statement.
Trump accounts are free, tax-deferred investment accounts for children created by the One Big Beautiful Bill Act. They are similar to brokerage accounts in that they allow parents to invest money on behalf of their child. At age 18, the child gains ownership of the account and can continue to contribute to it as an individual retirement account, or IRA.
Parents can open an account for any child with a Social Security number, but for children born between Jan. 1, 2025, and Dec. 31, 2028, the Department of Finance will fund the accounts with a one-time deposit of $1,000 per eligible child.
Starting Thursday, the Trump account app will be available on the Apple App Store and Google Play. In a video posted on X, Bessent said the app can be used to register, contribute and watch Trump account balances grow once the accounts are officially launched in July.
Currently, the app is primarily for parents to ensure that their child’s account will be activated prior to launch.
According to Bessent, the app was designed in collaboration with Robinhood and Bank of New York Mellon (BNY). In April, BNY was designated as the federal government’s “financial agent” to help operate the Trump account system.
At launch, contributions to the accounts will be invested in exchange-traded funds that track the S&P 500 stock market index, according to The Wall Street Journal. More investment options in US-based companies are expected later.
Parents, family, friends and employers can contribute to the accounts, up to $5,000 a year until the child turns 18. During this time, donors and state or local governments can also make contributions that do not count toward the $5,000 annual limit.
Trump Accounts can be fully managed through the app, but parents can choose to transfer accounts to other financial institutions later. Children, once they have gained ownership of the account at age 18, can do the same.
On Thursday, the Treasury Department also said it will begin contacting parents who have already signed up for account setup instructions by email, noting that correspondence about the accounts will only appear at no-reply@TrumpAccounts.Treasury.gov.
Parents can register by filling out IRS form 4547, which more than 4 million families have already done during tax season. Forms are also available at TrumpAccounts.gov at any time.
“By putting easy access to Trump accounts directly into the hands of America’s parents and youth, we are helping to ensure that America’s youth are included in this new era of economic participation,” Bessent said.
