25 Million Trump Accounts Could Be Funded by Mid-October: IRS CEO

Last updated Oct 2, 2026

Update on Trump Accounts: 25 Million Accounts to be Funded by Mid-October

About Trump Accounts

Trump Accounts, also known as 530A accounts, launched on July 4. They are open to all U.S. children under 18 with a Social Security number. Eligible applicants born from 2025 to 2028 can also receive $1,000 seed money from the Treasury Department.

Upcoming Funding for Trump Accounts

According to IRS CEO Frank Bisignano, up to 25 million Trump Accounts may be funded by mid-October. The source of these funds, whether from family, employer contributions, or grants, is currently unclear. Potential grant sources include a $1,000 pilot program from the Treasury, or a $250 Dell grant intended for 25 million children.

Automatic Enrollment in Trump Accounts

The U.S. Department of the Treasury announced recently that more than 60 million American children under age 18 have been automatically enrolled in these new tax-deferred savings and investment accounts.

Additional Funding from Michael Dell

Philanthropist Michael Dell and his wife, Susan, pledged $6.25 billion to provide additional funds for children born between 2016 and 2024 who do not qualify for the federal seed money. This commitment could potentially fund investment accounts for approximately 25 million American children, according to the Dell Foundation.

Claiming Auto-Enrolled Accounts

Families must claim auto-enrolled accounts via the Trump Accounts app to receive the Treasury’s $1,000 seed money and other deposits, if eligible.

Company Matches and Additional Gifts

About 72 companies have pledged to match contributions for children of employees. Additionally, philanthropists in several states have committed to additional gifts for certain qualifying families.