Treasury Unveils Records System for Trump Accounts to Aid Kids' Savings
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 American kids save for the future. This system will help the Treasury manage and check that these accounts follow the rules. Comments on this new system are open until May 18, 2026, and it starts right away with no extra costs.
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
New Trump Accounts for Children
You (or a parent/guardian) may have a new Trump Account established for an eligible child: Treasury is required to create or organize an initial Trump account for each eligible individual and make a one-time $1,000 pilot program contribution. This system of records supports administering those accounts and is effective upon publication (April 17, 2026) with comments due by May 18, 2026.
Collection of Sensitive Personal Data
If you request an account or are a beneficiary, Treasury will collect and keep personally identifiable information such as Social Security number, date of birth, home address, phone, email, and bank account and routing numbers. Records are stored electronically and by The Bank of New York Mellon, retrievable by SSN, and routine disclosure rules (including sharing with DOJ, other Federal/State/local agencies, financial agents, and contractors) will be applicable on May 18, 2026.
Oversight, Fraud Detection, and Rule Enforcement
Treasury will use the system to track contributions and distributions, enforce contribution limits and investment restrictions, reconcile deposits and transfers, produce required reports, and detect improper elections or potential fraud. These oversight functions are designed to support program integrity, compliance monitoring, and required reporting for Trump accounts.
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