Idaho promotes Trump Accounts to support children’s long-term financial growth

Boise, Idaho - Governor Brad Little announced today the State of Idaho made new information available for Idaho families seeking Trump Accounts, which offer babies a one-time $1,000 federal contribution.

Governor Little helped President Donald Trump roll out the new program earlier this year. He said it aligns with Idaho's strong focus on financial responsibility, opportunity, and long-term prosperity. The Trump Accounts complement the existing IDeal 529 program, a state sponsored, tax advantage savings plan that helps families pay for the cost of college.

"Trump Accounts represent a significant national effort to strengthen the financial future of America's children, and Idaho is proud to support that priority. This program gives families, employers, and communities another way to invest in long-term financial success and build a stronger foundation for Idaho's next generation," Governor Little said.

Trump Accounts, also referred to as 530A accounts, are administered by the U.S. Department of the Treasury. The accounts were created under federal law to support long-term savings and investment opportunities for children under age 18.

Eligible U.S. citizen children born between January 1, 2025, and December 31, 2028, may qualify for a one-time $1,000 federal contribution once their account is activated.

While the program is federal and not overseen by the State of Idaho, the Idaho Department of Finance is committed to ensuring Idaho families have access to clear, reliable information as the program becomes available July 4, 2026.

A dedicated informational webpage, including English and Spanish flyers for community distribution, is available at Finance.Idaho.gov/TrumpAccounts. Official federal information is available at TrumpAccounts.gov.

"Families need simple, reliable information about how Trump Accounts work and what steps are required to participate. We're committed to helping Idahoans understand the process so they can make informed decisions about their children's financial future," Idaho Department of Finance Director Salvador Cruz said.

MORE ABOUT TRUMP ACCOUNTS

The federal program officially launches July 4, 2026. Under federal rules, families may contribute up to $5,000 annually, and employers may contribute up to $2,500 without it counting as taxable income to the parent.

A child must be under age 18 and have a Social Security number to qualify for a Trump Account. The U.S. Department of the Treasury automatically creates the initial version of each account, but the account does not become active until a parent or guardian completes the required election process.

If parents did not already activate the account by completing IRS Form 4547 during the federal tax filing process, they can still easily submit the form through the Data Submission Portal at TrumpAccounts.gov.

Once activated, families may choose to roll over the account to a participating financial institution approved by the IRS, including eligible banks, credit unions, and investment firms. Under federal law, accounts must be invested in low-cost index funds or ETFs tied to broad U.S. stock market indexes.

Withdrawals are not permitted until the child reaches the end of the federally defined "growth period," which concludes in the year the child turns 17. After age 18, the account transitions into a traditional IRA and standard IRA rules apply.

KEY INFORMATION FOR IDAHO FAMIILIES

• Trump Accounts are a federal savings and investment program for children under age 18.
• The program launches July 4, 2026.
• Eligible children born between 2025 and 2028 may receive a one-time $1,000 federal contribution after activation.
• Families may contribute up to $5,000 per year.
• Employers may contribute up to $2,500 annually.
• Parents or guardians must activate the account through the federal election process.
• Contributions and investments follow federal rules designed to encourage long-term growth and low administrative costs.
• Families may roll over accounts to approved financial institutions participating in the program.

State officials said the program is designed to expand financial literacy and encourage long-term investing habits from an early age.

By combining family contributions, employer participation, and market-based investment growth, Trump Accounts aim to help more young Americans begin adulthood with a stronger financial foundation.