Treasury says sign-ups for the child investment program have reached about 7 million, while more than 55 companies have indicated interest but broader employer adoption is pending operational guidance.
Registrations for Trump Accounts have climbed to about 7 million since the program launched on July 4, U.S. Treasury Secretary Scott Bessent said, calling the 530A initiative the "most successful launch in government history." The accounts are open to U.S. children under 18 with a Social Security number, and those born from 2025 through 2028 are eligible for a one-time $1,000 Treasury deposit under a pilot program. Families can contribute up to $5,000 a year into exchange-traded funds tracking the S&P 500, while employers can contribute up to $2,500 annually tax-free. More than 55 companies, including Bank of America, Chipotle, Dell and Uber, have said they will contribute, but consultants say wider employer participation depends on Treasury guidance covering administration, payroll handling and nondiscrimination rules. The Department of Labor said in June that employer contributions will not fall under ERISA, removing retirement-plan fiduciary obligations, but advisers said practical questions remain. A McKinsey analysis estimated the program could generate $80 billion to more than $900 billion in long-term asset accumulation over the next decade, depending on participation and sustained engagement.