The U.S. Treasury announced on Oct. 1 that it had automatically enrolled more than 60 million eligible children in Trump Accounts, bringing the total to nearly 70 million. However, parents or guardians must claim the account through the official app to manage it, accept contributions, and receive the government’s $1,000 seed deposit. Since the program launched on July 4, more than $4.5 billion has been deposited, including $1.3 billion in government contributions, over $600 million from family and friends, and $2.6 billion in philanthropic gifts. The $1,000 seed deposit is limited to U.S. citizen children born between Jan. 1, 2025 and Dec. 31, 2028.
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