Social Security Makes it Easier for Parents of Newborns to Open a Trump Account

Social Security Makes it Easier for Parents of Newborns to Open a Trump Account
New insert with Social Security Card provides parents with information about claiming and managing their child's account

Baltimore, MD - The Social Security Administration (SSA) announced it is now including information about Trump Accounts with Social Security cards issued to newborns through the Enumeration at Birth (EAB) program.

The insert provides straight-forward instructions for claiming an eligible child's account through the Trump Accounts app. Eligible children born between January 1, 2025, and December 31, 2028, may receive a one-time $1,000 contribution from the U.S. Department of the Treasury.

"Social Security is providing families with the tools to get started right away on this generational opportunity to build a strong financial foundation for their children's future," said Commissioner Frank J. Bisignano. "By including this information with Social Security cards issued through the Enumeration at Birth process, we are giving parents the tools to activate their child's Trump Account and take full advantage of this wealth building opportunity."

The Enumeration at Birth program allows parents to request a Social Security number for their child as part of the birth-registration process. State bureaus of vital statistics electronically provide birth-registration information to SSA, which assigns the child a Social Security number and issues the Social Security card.

SSA is working with the Department of the Treasury to include the new Trump Account insert with Social Security cards mailed to newborns through the EAB process. The insert directs parents and guardians to:

• Visit TrumpAccounts.gov to download the Trump Accounts app and sign up.
• Look for a communication from the Department of the Treasury with information about activating the account and receiving the $1,000 contribution, if the child is eligible.
• Manage the account and, if desired, make additional contributions subject to applicable limits.

Trump Accounts are tax-advantaged investment accounts established for children. An eligible child may have one account, and parents, guardians, or other authorized individuals serve as the responsible party and account custodian.

Today, nearly 70 million Trump Accounts are open for eligible children. Parents and legal guardians can claim their child's Trump Account through the official Trump Accounts app, available to download for free in the Apple App Store and Google Play.

Contributions have already been made to some unclaimed Trump Accounts by generous donors. Friends, family, and employers can also contribute to a Trump Account once it is claimed. To date, 26 million accounts have already received contributions. When the child turns 18, the Trump Account remains a traditional retirement account, allowing their money to grow with them over decades.

For more information about Trump Accounts, including eligibility and account activation, visit TrumpAccounts.gov.

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