60 Million Children Have Been Automatically Enrolled in Trump Accounts. Here’s What Parents Should Know

President Donald Trump speaks about "Trump Accounts," investment savings accounts for children, in the Oval Office in the White House in Washington, D.C. on October 7, 2026. —Alex Wroblewski—AFP/Getty Images Sixty million American children were automatically enrolled into “ Trump Accounts ” on Oct.

1, President D onald Trump announced.

Roughly 10 million of the investment accounts for kids have also been created by parents or guardians following the program’s launch on July 4, meaning that the automatic enrollments bring the total number of enrollees to 70 million.

That figure represents every American child under 18 with a Social Security number, according to the White House .

“Today we celebrate our next historic … step to ensure every American child has a fair shot at the American dream,” Trump said Wednesday in the Oval Office.

“The U.S. government is automatically creating a tax-free investment account for every child to grow over the course of their lives and to be used to their benefit and for their benefit after they turn 18.” More than $4.5 billion has been deposited into Trump Accounts since they went live this summer, including $1.3 billion in federal seed money, $2.6 billion in philanthropic donations, and over $600 million from family and friends of account owners, according to the White House, which added in a press release that there is “more on the way.” Read More: Trump Accounts for Kids Are Now Live.

Here's Everything Parents Need to Know Here’s what to know about Trump Accounts following the latest announcement.

What are Trump Accounts? Trump Accounts are special tax-deferred investment accounts for American children under the age of 18.

Accounts for newborns and many young children will receive seed deposits from the federal government or philanthropists Michael and Susan Dell , with amounts depending on their birth year and zip code.

Parents, friends, family, or others also have the option of contributing up to $5,000 per child into the accounts each year.

Money in the Trump Accounts will be invested in a fund that tracks the performance of the S&P 500 Index, which includes roughly 500 of the largest publicly traded U.S. companies.

The funds can only be accessed after a child turns 18, at which point their account will become a traditional Individual Retirement Arrangement (IRA) account.

While the accounts will be under children’s names, they will be managed by parents or guardians until the owners turn 18.

The accounts, established under Trump’s “One Big Beautiful Bill,” are intended to help build long-term wealth for American children.