President Donald Trump rolled out new details Dec. 2 about his administration’s “Trump Accounts” initiative and announced a $6.25 billion investment from Michael and Susan Dell to help launch the nationwide child-savings program.
Created under the Working Families Tax Cuts Act, the accounts will be available to U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028. They are scheduled to open July 4, 2026, Trump said at a White House ceremony.
Each eligible child will receive a one-time $1,000 contribution when the account is created. Families can contribute up to $5,000 per year, and funds must remain untouched until the child turns 18.
The Dell family’s contribution — which Trump called “one of the largest private donations in American history” — will add $250 to the accounts of the first 25 million children aged 10 and under who live in ZIP codes with median incomes below $150,000.
“It’s an amazing act of just incredible everything,” Trump said while recognizing the Dells. “The life you’ve led to be able to do this. A lot of people have a good heart, but they can’t give 6 billion, 250 million dollars. And Michael probably, knowing you, it’s not the last of it either.”
Michael Dell said he and his wife view investing in children as “the smartest investment that we can make.” Dell, who founded Dell Technologies in 1984, is now the 10th richest American, with an estimated net worth of $129 billion, The Hill reported.
“These investment accounts are simple, secure, and structured to grow in value through market returns over time,” the Dells said in their announcement. “At age 18, these young Americans can have a financial foundation for continued education, job training, home ownership, or future savings. It’s a simple yet very powerful idea.”
According to the White House, children need a valid Social Security number to hold an account. Parents or legal guardians will manage funds until adulthood, at which point the account will generally function like a traditional individual retirement account, or IRA. The program prohibits early withdrawals except in narrow cases such as trustee-to-trustee rollovers.
Employers can also contribute up to $2,500 per year through cafeteria plans, and charitable groups or government entities may also make qualifying contributions that do not count toward the annual cap.
To open an account or request the $1,000 government deposit, families must file IRS Form 4547, the White House said. Beginning mid-2026, the process will also be available online at the program’s website.
“This is a pro-family initiative that will help millions of Americans harness the strength of our economy to lift up the next generation,” Trump said in a statement. “And they’ll be getting a big jump on life.”