MW How do I open a 'Trump account'? The IRS has one simple solution for you.

Andrew Keshner

People can't contribute money to the tax-advantaged accounts for children until July, but they can start the process of opening one now

"Trump accounts" debut this year. Here's how to start now.

"Trump accounts" are going to launch the financial future of America's youth, President Donald Trump said Wednesday.

In that case, parents should think of their 2025 income-tax return as the launch pad.

When filing their income taxes with the Internal Revenue Service this year, parents and legal guardians will be able to complete a form that signs up their child for the tax-advantaged accounts, which are open to any U.S. citizen who's under 18 and has a Social Security number.

The tax paperwork - Form 4547 - is also where households can claim the $1,000 in seed money that the government will put into the so-called Trump accounts of babies born from 2025 to 2028.

An online portal where parents can open the accounts is scheduled to be available by the summer, and they'll be able to make contributions starting July 5, according to Trumpaccounts.gov, the official government website for the new investing accounts. But families don't have to wait until then: They can get the process started now when they file their 2025 tax return. Major tax preparers like H&R Block $(HRB)$ and Intuit's TurboTax $(INTU)$ say users will be able to sign up for the accounts when doing 2025 returns through their platforms.

It's easier and more efficient to sign up for a Trump account through a tax return versus waiting for the online portal to launch, said Tony Frezza of Advanced Tax & Investments, headquartered in Orlando, Fla. Waiting to sign up online later could involve extra identity and eligibility verification that could delay the process.

It's another reminder that tax season this year has extra significance for families, many of whom may be looking forward to the possibility of larger-than-usual refunds.

The Trump accounts, which were part of the 2025 GOP legislation known as the One Big Beautiful Bill Act, are designed to give kids exposure to the stock market through low-cost index funds. They are similar to a traditional, tax-deferred IRA, managed by a parent or guardian until the child reaches age 18. The accounts are debuting at a time when more teens have been trying to build their wealth by investing in the stock market.

"All Americans will begin their lives with a beautiful nest egg. There's never been anything like this," Trump said Wednesday.

For 2026 and 2027, the maximum yearly contribution to a Trump account is $5,000. Afterwards, the yearly maximum is indexed to rise with inflation. If no other money was added to the initial $1,000 the government is adding to some children's accounts, it would grow to roughly $5,800 by age 18, based on historical returns from the S&P 500 SPX.

July 5 will be the first day that parents, employers, donors and other entities can put money into the accounts, according to the official site. Michael Dell and Ray Dalio are two business leaders who have pledged to make donations to some of the accounts. There's also a growing list of major employers who say they will contribute money for their workers' children.

On Tuesday, Intel $(INTC)$ said it was matching the federal government's $1,000 seed money for employees' children. Trump said Wednesday that Uber $(UBER)$, Charter Communications $(CHTR)$ and Charles Schwab $(SCHW)$ would be adding Trump accounts to their employee benefits packages, and that Nvidia (NVDA), Broadcom $(AVGO)$, IBM $(IBM)$, Steak 'n Shake , Coinbase (COIN), Continental Resources and Comcast $(CMCSA)$ have all said they'll donate to the accounts.

JPMorgan Chase & Co. $(JPM)$ and Bank of America (BAC) are also preparing to match the $1,000 government contribution.

Visa (V) was already one of the employers planning to put money in the Trump accounts of workers' children. Now it's working on the ability for people to deposit cash-back rewards in accounts, Trump said Wednesday.

"Visa will be working with our U.S. financial institution partners to enable a new capability that will offer cardholders the option to direct credit-card rewards into Trump accounts," the company said in a statement to MarketWatch. "It's a simple way for families to turn rewards earned on everyday purchases into savings for their children's futures."

To be sure, Trump accounts aren't the only option for building a child's financial future. There are other tax-advantaged accounts for kids that can be opened right now. One example is the 529 account, where money for educational purposes - like college tuition - isn't subject to federal income taxes. In some states, there may be deductions for affiliated state 529s.

One big sell for Trump accounts may be the seed money and the early start on investing.

While families and big businesses may be focused on launching these accounts now, others are eyeing the future potential. On Wednesday, entrepreneur and "Shark Tank" investor Kevin O'Leary was one of the people highlighting the importance of the accounts at an all-day event.

"What I love about this is it's better than Social Security. It really is. This is a way for the country to heal itself and make sure every one of its citizens has a foundation to stand on," he said.

Social Security's trust fund is currently projected to be insolvent in 2033. From there, it would pay 77% of the scheduled benefits, according to an annual report last June.

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-Andrew Keshner

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January 28, 2026 16:04 ET (21:04 GMT)

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