Trump Accounts Hit 6.5 Million Openings as Families Await Seed Deposits

The Treasury Department says about 6.5 million Trump Accounts have been opened, including roughly 1.5 million eligible for the $1,000 government contribution, even as some families continue to wait for the seed money this week.

Program Background

Trump Accounts are a new federal savings program for children created in the One Big Beautiful Bill. The program provides a one-time $1,000 Treasury seed deposit for eligible babies born from 2025 through 2028. Qualifying children must be U.S. citizens with a Social Security number, and the $1,000 deposit applies only if they were born between Jan. 1, 2025 and Dec. 31, 2028.

Recent Rollout Details

AP reports the accounts were not open for contributions until July 2026. Treasury guidance says the seed money should be deposited after July 4, 2026 and “as soon as practicable” after the account is authenticated. This timing helps explain why some families were still waiting this week despite the president touting the program.

Sign-Up Process

Parents of eligible children can sign up using IRS Form 4547. The Treasury Department has indicated that deposits follow authentication of each account, with the process now active following the July 2026 opening for contributions.

Local families in Chattanooga with children meeting the birth-date and citizenship criteria can review eligibility through the same federal channels. The program remains available to qualifying households across the country as account creation continues.

Further updates on deposit processing are expected as the Treasury Department works through authenticated applications submitted since the July 2026 start date. Parents seeking to establish an account should consult the official IRS form and Treasury resources for current requirements.