Can You Open a Trump Account at Fidelity? (Yes)

Yes, Fidelity is expected to be an approved Trump Account (Section 530A) trustee. If you are searching for "Fidelity Trump Account," "530A account Fidelity," or wondering if you can open a 530A account at Fidelity — this is the guide for you. As one of the largest brokerages in the country, Fidelity is anticipated to support Trump Accounts under IRC Section 530A. They offer some of the cheapest S&P 500 index funds available, making them a strong choice for your child's account. You will need to file IRS Form 4547 first to elect a Trump Account, then select Fidelity as your trustee.

Can You Open a 530A / Trump Account at Fidelity?

Fidelity is widely expected to participate as a Section 530A account (Trump Account) trustee. They already serve as custodians for IRAs, 529 plans, and custodial accounts. Supporting 530A accounts would be a natural extension of their existing services.

Here is what we know as of early 2026:

• The IRS has not yet published the final list of approved trustees.
• Major brokerages like Fidelity, Schwab, and Vanguard are expected to participate.
• The trumpaccounts.gov portal is set to launch mid-2026 with the full trustee directory.
• You must file IRS Form 4547 with your 2025 tax return (due April 15, 2026) to elect the account first.

You do not pick a brokerage first. The process starts with the IRS. Once the account is activated, you then choose your trustee. For a full walkthrough, see our step-by-step guide to opening a Trump Account.

Fidelity's Eligible Trump Account Funds

Fidelity offers two standout funds that meet Trump Account requirements. Both track broad U.S. equity indexes. Both have expense ratios far below the 0.1% legal cap.

Both funds charge just 0.015%. That is 1.5 basis points. On a $10,000 balance, you pay $1.50 per year. On a $50,000 balance, you pay $7.50 per year. These are among the cheapest index funds in the entire industry.

FXAIX tracks the S&P 500. FSKAX tracks the total U.S. stock market, which includes the S&P 500 plus thousands of smaller companies. Both are expected to qualify under the Trump Account index fund requirements.

How to Open a Trump Account at Fidelity

You cannot walk into Fidelity and open a Trump Account today. The process starts with the IRS. Here are the steps:

1. File IRS Form 4547 with your 2025 tax return. This is how you elect a Trump Account for your child. The deadline is April 15, 2026. You can also file through the trumpaccounts.gov portal when it launches mid-2026.
2. Wait for IRS activation. The IRS will process your election and activate the account. You will receive confirmation.
3. Select Fidelity as your trustee. Once the account is active, you choose which brokerage will hold the funds. Select Fidelity from the list of approved trustees.
4. Choose your fund. Pick FXAIX, FSKAX, or another eligible fund. Start contributing up to $5,000 per year.

For the complete walkthrough with screenshots and tips, see our step-by-step guide to opening a Trump Account.

Fidelity Trump Account Fees

Fidelity is known for keeping costs low. Here is what to expect for a Trump Account:

• Account maintenance fees: None expected. Fidelity does not charge annual fees for IRAs or custodial accounts.
• Trading commissions: None expected. Fidelity offers commission-free trading on mutual funds and ETFs.
• Fund expense ratios: As low as 0.015% for FXAIX and FSKAX. This is the only ongoing cost.
• Minimum investment: No minimum for most Fidelity mutual funds. You can start with any amount.

The total cost of holding a Trump Account at Fidelity is essentially the fund expense ratio — and at 0.015%, that is about as cheap as it gets. For a deeper look at all the costs, see our Trump Account fees guide.

Fidelity vs Schwab vs Vanguard for Trump Accounts

Fidelity is not the only option. Schwab and Vanguard are also expected to serve as Trump Account trustees. Here is how their lowest-cost S&P 500 funds compare:

Fidelity has the lowest expense ratio at 0.015%. Schwab is close behind at 0.02%. Vanguard's Admiral Shares fund (VFIAX) is 0.04% and requires a $3,000 minimum, though their ETF (VOO) is available at 0.03% with no minimum.

All three brokerages charge zero trading commissions and zero account maintenance fees. The main differences are fund expense ratios and minimum investment requirements.

For a side-by-side look at Schwab specifically, see our Trump Accounts at Schwab guide. For a broader ETF comparison, see Best S&P 500 ETFs for Trump Accounts.

Why Fidelity for a Trump Account?

Fidelity stands out for several reasons:

• Ultra-low expense ratios. FXAIX at 0.015% is cheaper than most competitors. Over 18 years of compounding, every basis point matters.
• No minimum investment. You can start with $1. This is ideal for families making small monthly contributions. Vanguard's Admiral Shares require $3,000 to start.
• Strong customer service. Fidelity consistently ranks at the top for customer support. They have over 200 branch offices if you prefer in-person help.
• Robust mobile app and website. Managing contributions and checking balances is easy. Their app is well-reviewed and regularly updated.
• Long track record. Fidelity has been managing index funds since 1988. FXAIX alone holds over $500 billion in assets.

For more on how fees affect your child's long-term balance, try the fund expense tracker.