Treasury's New 'Trump Accounts' for Kids' Wealth: What Gives?
Published Date: 4/17/2026
Notice
Summary
The Department of the Treasury is launching a new system to keep track of Trump Accounts, special IRAs designed to help eligible American kids build long-term wealth. This system will help the Treasury manage and oversee these accounts while making sure all rules are followed. Comments on this new system are open until May 18, 2026, and it goes into effect right away, with no extra costs announced.
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Analyzed Economic Effects
3 provisions identified: 1 benefits, 2 costs, 0 mixed.
Automatic child IRA with $1,000 deposit
The Treasury will create or organize an initial Trump Account (a type of traditional IRA) for each eligible child and make a one-time $1,000 pilot program contribution to eligible children. This is established under Section 70204 of Public Law 119-21 and related Internal Revenue Code provisions.
Sensitive personal and bank data collected
Treasury's new system will collect and store personally identifiable and financial information for Trump accounts, including Social Security numbers, dates of birth, home addresses, phone numbers, email addresses, signatures, bank account numbers, and routing numbers. Records will be stored electronically or on paper and are being treated as permanent until a National Archives schedule is approved.
Data sharing rules and routine disclosures
Treasury may disclose Trump account records outside the agency for specific routine purposes, including to the Department of Justice, Federal/State/local agencies for law violations, Congressional offices at an individual's request, the National Archives, other federal entities for breach response, and financial agents and contractors. The routine uses are stated to be applicable on May 18, 2026 unless changed after comments.
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