Trump accounts, brilliant idea

[Hippie Mark]

Trump Accounts, also known as 530A accounts, are a new type of tax-advantaged investment account designed for U.S. citizen children under 18. These accounts were established under the One Big Beautiful Bill Act (OBBBA) of 2025 and will be available starting July 4, 2026.

Eligibility and Opening an AccountWho Can Open an Account?

• Only parents or legal guardians can open a Trump Account for their child.
• The child must have a valid Social Security number and be a U.S. citizen under 18 years old on December 31 of the year the account is opened.

How to Open an Account

• Parents can submit IRS Form 4547 at any time or use an online portal available in summer 2026.
• It is advisable to file Form 4547 with the 2025 tax return for early access.

Contributions and BenefitsContribution Limits

• Individuals and employers can contribute up to $5,000 per child per year.
• The federal government will provide a one-time deposit of $1,000 for children born between January 1, 2025, and December 31, 2028.

Investment Options

• Funds can be invested in low-cost stock index mutual funds or ETFs primarily composed of U.S.-based companies.
• Contributions are made on an after-tax basis, meaning only earnings are taxed upon withdrawal.

Withdrawal Rules

• Withdrawals are not allowed until the child turns 18.
• After that, the account follows traditional IRA rules, allowing for tax-advantaged withdrawals for education or home purchases.

Trump Accounts aim to promote financial literacy and security for children, helping them build a foundation for their financial futures.

[Navy]

Thank You Mr. President. An awesome Idea that dems wish they  had thought of first.  MAGA!

[Irie]

Excellent idea.... but no leftist input?

[Hippie Mark]

This was presented to autopen Biden and he wanted no part of it.

[Lobo]

It's a great Idea for billionaire Wall Street banksters who want to gamble with all those billions currently being sent by hard-working Americans to Social Security (and then be bailed out by even more of your hard earned money when they do another 2008...)

Imagine that Bush had succeeded in privatizing Social Security (ie, investing it in Wall Street)... right before Wall Street took the biggest nosedive since 1929...

As he so often does, Trump's Treasury Secretary Scott Bessent said the quiet part out loud: 

https://www.washingtonpost.com/business/2025/07/30/trump-accounts-social-security-bessent/

Trump’s newborn savings accounts a ‘back door for privatizing Social Security,’ Bessent says

The “Trump accounts” were set up in the GOP’s new tax and spending law, the One Big Beautiful Bill.

July 30, 2025