Trump Accounts Timeline

One Big Beautiful Bill Act Signed into Law

President Trump signed the One Big Beautiful Bill Act (OBBBA) into law, creating IRC Section 530A — the legal foundation for Trump Accounts. The law established:

• $1,000 federal pilot deposit for children born 2025–2028
• $5,000 annual contribution limit (family + employer)
• S&P 500 index fund investment requirement
• Conversion to traditional IRA at age 18
• Employer matching up to $2,500/year under new IRC §128

IRS Publishes Notice 2025-68

The IRS published Notice 2025-68, the first comprehensive guidance on Trump Accounts. This 20+ page document provided the official rules and procedures:

• How to file Form 4547 (Trump Account Election)
• Eligibility requirements (U.S. citizen, SSN, under 18)
• Contribution limits and deadlines
• Eligible investments (index funds tracking S&P 500 or broad U.S. equity)
• Employer contribution rules under §128
• Qualified general contributions from states/localities/tribes/501(c)(3)s

Tax Filing Season Opens

The 2025 tax filing season opened, allowing parents to file Form 4547 with their federal tax return. This was the first opportunity to open a Trump Account and elect the $1,000 pilot deposit.

Tax Filing Deadline

Standard deadline for filing 2025 federal tax returns with Form 4547 attached. Extensions available until October 15, 2026. Treasury officials later reported that nearly 2 million forms had been filed, covering approximately 3 million children.

Authentication Process Begins

Treasury began the authentication process, verifying parent identities and setting up accounts with designated brokerages. This prepared accounts to receive the $1,000 federal deposit on launch day.

Trump Accounts Go Live (sb0554)

One year after the law was signed, Trump Accounts officially launched. Treasury announced the full scope of the program in press release sb0554:

• $1,000 federal deposits began landing in verified accounts
• Official Trump Accounts app launched (iOS and Android)
• Families could begin making personal contributions
• trumpaccounts.gov portal went live for online enrollment
• Robinhood Securities confirmed as sole initial trustee

First Market Investments

Monday, July 6, 2026 — the first business day after the July 4 launch — Trump Account money was invested in the stock market for the first time. Funds flowed into S&P 500 index funds (default: SPYM, with additional options IVV, VTI, SPTM, ITOT).

First Five Days: 6.5M Accounts, $125M Contributed

Treasury officials reported to the press that in the first five days after personal contributions opened, approximately 6.5 million accounts had been opened and families had contributed nearly $125 million. These numbers demonstrated strong early adoption.

Employer Contribution Guidance Released (sb0602, REG-101355-26)

Treasury announced comprehensive guidance for employer-sponsored Trump Account contribution programs (press release sb0602). The same day, IRS published proposed regulations REG-101355-26 in the Federal Register (document 2026-16314). Key provisions:

• Employers may contribute up to $2,500/year per employee (tax-free under IRC §128)
• Required: separate written plan, employee notices, annual statements, trustee reporting
• Employees may make pre-tax cafeteria contributions to a dependent's Trump Account
• Nondiscrimination tests apply (similar to dependent care programs)
• Cannot restrict contributions to one broker (families choose trustee)
• More than 50 companies have already committed to offering contributions

Investment Rules Proposed (sb0609, CC-00349938-26)

Treasury announced proposed rules for eligible Trump Account investments (press release sb0609, August 20). The next day, IRS published the notice of proposed rulemaking in the Federal Register (document 2026-17123). Proposed Treas. Reg. §1.530A-3 establishes:

• Eligible: mutual funds/ETFs tracking qualified broad equity indexes
• Maximum annual fund fees and expenses: 0.1%
• No leverage, no ESG-marketed indexes
• Framework for future and rollover trustees
• 30-day safe harbor to dispose of ineligible holdings

Dell $250 Deposits Begin; 7M Accounts Total

The Michael & Susan Dell Foundation began distributing $250 deposits to qualifying children (born 2016–2024 in ZIP codes with Median Family Income ≤ $150,000). CNBC reported that approximately 7 million children had been signed up for Trump Accounts by this date.

Employer NPRM Comment Deadline

Comment period closed for proposed employer contribution regulations (REG-101355-26). Public hearing scheduled for October 15, 2026.

Temporary Regulations on Stock Contributions (T.D. 10056)

Treasury published temporary regulations T.D. 10056 (Federal Register 2026-20026), establishing Treas. Reg. §1.530A-7T. These regulations:

• Allow governments, tribal governments, and 501(c)(3)s to make qualified stock contributions
• Stock must go to an approved class of at least 5,000 beneficiaries
• Each child in the class receives an equal amount
• Trustee cannot sell before 5 years or end of growth period
• These contributions do NOT count toward the $5,000 annual cap
• Families/friends/employers still cannot donate individual stocks

Same document also laid groundwork for automatic enrollment (completed the next day).

Automatic Enrollment Complete (sb0642)

Treasury completed automatic enrollment for Trump Accounts (press release sb0642). This was a transformational milestone:

• Millions had already enrolled manually
• Automatic enrollment added over 60 million eligible children
• Every eligible child under 18 with a valid SSN now has an account
• Parents/guardians must claim the account in the official app before managing it
• Claim process: verify identity, review child's info, accept terms
• $1,000 seed only paid after claim, and only for 2025–2028 births

White House: Nearly 70 Million Accounts

White House spokeswoman Taylor Rogers announced that nearly 70 million accounts had been created, including more than 60 million through automatic enrollment. Reported by Newsweek.

Employer NPRM Public Hearing

IRS held public hearing on proposed employer contribution regulations (REG-101355-26) at 10:00 a.m. ET.

Investment Rules NPRM Comment Deadline

Comment period closed for proposed eligible investment regulations (CC-00349938-26). Final regulations expected to follow.

Michael & Susan Dell Foundation: $6.25 Billion

The largest private philanthropic commitment to children's investment accounts in history. Michael and Susan Dell pledged $6.25 billion to provide $250 per child:

• Children born 2016–2024 (age 10 and under)
• Living in ZIP codes with Median Family Income ≤ $150,000
• Up to ~25 million children qualify
• First deposits distributed August 31, 2026
• Separate from and in addition to the $1,000 federal deposit

Ray & Barbara Dalio: Connecticut Pledge

Ray and Barbara Dalio committed $250 per child for approximately 300,000 children in Connecticut ZIP codes with median income below $150,000. Part of Treasury's "50-state challenge" encouraging private philanthropy to match government investments. Total pledge: approximately $75 million.

50+ Companies Commit to Employer Contributions

Treasury announced in press release sb0602 that more than 50 companies have committed to offering Trump Account contributions for employees. Notable commitments include:

• Vanguard: $1,500 crew option beginning in 2027
• Visa: Company match of the $1,000 federal seed
• Others: ADP, Chime, Edward Jones, Franklin Templeton, Kraken, State Street