Nearly 70 million children have Trump Accounts through automatic enrollment
Nearly 70 million Trump Accounts have been created through automatic enrollment, White House spokesman Matthew Middleton told Fortune. Parents must claim accounts to manage them and request the one-time $1,000 federal contribution for eligible children. A Treasury official said more than $8 billion had been deposited nationwide. Some parents told The Independent they would not activate their children's accounts.
More context
Automatic enrollment has created accounts for nearly 70 million children; parents must claim and activate eligible accounts to manage them and seek the federal $1,000 contribution. White House spokesman Matthew Middleton told Fortune the automatic program had created nearly 70 million accounts. A Treasury official told Fortune deposits nationwide had topped $8 billion.
Created under Donald Trump’s 2025 tax-and-spending law, the accounts are a type of individual retirement account for children. The one-time $1,000 contribution is available to eligible U.S. citizens born from 2025 through 2028 who have valid Social Security numbers. As of July, Treasury data showed more than 6.5 million families had signed up, including more than 1.5 million children eligible for the contribution. Parents interviewed by The Independent said they would leave their children's accounts inactive, though unclaimed accounts remain open to outside contributions.
Was this story useful?
What was the main problem? (optional)
Reporting
- The Independent — Every eligible child under 18 now has a Trump Account - whether parents want one or not | The Independent
- Demokratis — Trump Accounts Give Millions of Children Automatic Enrollment
- TheStreet — Trump accounts: Automatic enrollment comes with a catch
- Los Angeles Times — Trump Accounts: What parents need to know about automatic enrollment, $1,000 seed money and activation - Los Angeles Times
- Fortune — Why some parents are rejecting $1,000 Trump accounts for their kids | Fortune
- magzter.com — Trump Accounts: What parents need to know | Los Angeles Times - newspaper
Verifier’s note
The Independent, Demokratis, TheStreet, the Los Angeles Times/AP report, and Fortune report that children’s Trump Accounts were or may be created through automatic enrollment. Magzter carries the same Los Angeles Times account; these reports are all dated November 1, within about 24 hours of the proposed event.