The IRS says more than four million children are registered to Trump’s accounts
Altimeter Capital Founder, Chairman and CEO Brad Gerstner discusses the benefits of Trump Accounts for children on ‘Mornings with Maria.’
More than four million children have signed up for Trump’s newly created accounts, the Internal Revenue Service (IRS) said Tuesday, marking a major rollout of the administration’s savings plan.
Additionally, the IRS said more than a million children were covered in the $1,000 Trump account checking donation election.
Trump’s accounts were created under the “One Big Beautiful Bill Act” last year, and contributions can begin on July 4, 2026.
“The IRS has been working closely with the Treasury Department to make the election process simpler and easier by allowing taxpayers to complete a one-page form when filing their tax returns,” IRS Chief Frank J. Bisignano said in a statement. “Families with eligible children born between 2025 and 2028 just need to tick a box on the form to claim their $1,000 donation. It’s that simple.”
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A screenshot of the Trump Accounts home page. (White House)
The new data is based on how many Forms 4547, “Trump Account Elections,” have been filed with each tax return so far, according to the IRS.
To create a Trump Account and enroll in the audit program on their 2025 tax return, parents can complete IRS Form 4547.
Accounts will be available to every American child born between Jan. 1, 2025, and Dec. 31, 2028, and will make a $1,000 seed donation invested in the index fund. They can be created for anyone who has not turned 18 before the end of the calendar year in which the election is made and has a valid Social Security number.
Each account is in the child’s name and is controlled by the parents until the child turns 18.
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President Donald Trump speaks on stage at Verst Logistics on March 11, 2026 in Hebron, Kentucky. (Photos by Andrew Harnik/Getty/Getty)
Although no contributions are required, up to $5,000 can be deposited into the accounts annually.
The US Treasury previously estimated that Trump’s accounts could accumulate significant savings if families increased contributions and allowed funds to grow.
For example, a fully funded account can reach about $1.9 million over 28 years, according to the Treasury’s Office of Tax Analysis. At the low end of the projected return, the account can still generate about $600,000 over the same period.
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President Donald Trump speaks during the Trump Accountability Summit in Washington, DC, on Wednesday, Jan. 28, 2026. (Valerie Plesch/Bloomberg via Getty Images/Getty Images)
Without additional contributions beyond the initial $1,000 federal government deposit, it is estimated that the account can grow to between $3,000 and $13,800 over 18 years.
Children can receive donations from parents, relatives, friends, employers, state governments and charities, according to the IRS.
Since the Trump Accounts were first introduced, many major corporations have voiced their support for the program and announced plans to match the government’s $1,000 contribution to the children of eligible workers.
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Treasury Secretary Scott Bessent speaks during the Trump Accountability Conference in Washington, DC, on Jan. 28. (Valerie Plesch/Bloomberg via Getty Images/Getty Images)
More information about Trump’s accounts can be found at trumpaccounts.gov.
FOX Business has reached out to the White House for comment.
FOX Business’ Amanda Macias and Emma Colton contributed to this report.
