Parents Are Missing the $1,000 Trump Account Deposit Because of One Form
If you had a baby in 2025 or 2026, the federal government has $1,000 waiting for your child in a new Trump account. But automatically enrolled does not mean automatically paid. Jake FitzGerald of 24/7 Wall St. walks through the…
If you had a baby in 2025 or 2026, the federal government has $1,000 waiting for your child in a new Trump account. But automatically enrolled does not mean automatically paid.
Jake FitzGerald of 24/7 Wall St. walks through the two separate steps families keep merging into one. First, claim the account at trumpaccounts.gov or in the app, since the Treasury has been opening accounts on its own since October. Second, file IRS Form 4547 to request the $1,000 federal seed. No form means no deposit.
He also covers the fine print. Anyone can contribute up to $5,000 a year combined, and the $1,000 seed sits outside that cap. Employers can add up to $2,500, and Goldman Sachs, BlackRock and Nasdaq have said they will match the federal seed. The money goes into a U.S. stock index fund and stays locked until 18, after which it works like a traditional IRA. For tuition, a 529 plan is still likely the better tool.
Jake has been been working in financial media for almost 15 years. He focuses on all things personal finance for 24/7 Wall St. with high hopes to educate and entertain. Most recently, Jake spent 12 years working various roles at The Motley Fool. He started copy editing fool.com content, worked on premium and marketing campaigns, and helped launch The Ascent, a personal finance brand.
His work has been featured on platforms like MSN, Yahoo Finance, USA Today, and more. He's written about credit cards, social security, ETFs, savings accounts, and just about anything else you can imagine when thinking about money. Jake love to cook, play golf, and tell people he's never had a cavity. (It's true!)
