OAN Staff Cory Hawkins and Brooke Mallory
2:05 PM – Wednesday, January 28, 2026
The highly anticipated Trump Accounts Summit took place this week in Washington, D.C., hosted by the U.S. Department of the Treasury, to promote and highlight the launch and rollout of the new program.
The program is a federal initiative providing tax-advantaged savings/investment accounts for children, including a one-time $1,000 government deposit, via a pilot program, for eligible U.S. citizen children born between January 1, 2025, and December 31, 2028.
“President Trump’s Working Families Tax Cuts include a new revolutionary program – Trump Accounts – giving the future of America a stake in America,” the Treasury Department stated during the Wednesday event.
“Trump Accounts allows parents, guardians, or other custodians to establish a new type of tax-advantaged individual retirement account for their children. Children born between January 1, 2025, and December 31, 2028, are eligible to receive $1,000 from Treasury as a pilot program contribution,” they explained. “In addition to the pilot program, parents can contribute up to $5,000/year, and employers up to $2,500/year.”
To claim these funds, families must open a “Trump Account” by submitting IRS Form 4547 with their tax returns. These assets must be invested in a fund tracking the broader stock market and are restricted from withdrawal until the child reaches age 18.
The Trump Administration projects that an account opened in 2026 with the initial $1,000 federal contribution will grow to $5,800 by age 18. Furthermore, if a family contributes the annual maximum of $5,000, the account is projected to reach $303,800 by the child’s 18th birthday.
Over 500,000 families have reportedly signed up so far, with more donations and partnerships expected. Official sign-ups are available through sites like Trumpaccounts.gov and irs.gov/trumpaccounts.
Several major U.S. corporations — including Charles Schwab, Robinhood, SoFi, Charter Communications, Uber, and BNY — have since pledged to match the federal government’s initial $1,000 contribution for the savings accounts of eligible employees’ children or dependents.
Last year at the White House, Dell Technologies Founder and CEO Michael Dell, along with his wife Susan, pledged $6.25 billion to seed savings accounts for up to 25 million American children. This initiative provides a $250 deposit for every child aged 10 or younger living in a ZIP code with a median income below $150,000.
The program’s reach has also expanded significantly with JPMorgan Chase, Bank of America and others joining the initial corporate partners in pledging to match the $1,000 federal contribution for their employees’ eligible children.
The Wednesday summit featured a prominent lineup of notable Republican speakers and Trump administration officials, including Senator Ted Cruz (R-Texas) and Treasury Secretary Scott Bessent.
They were joined by Michael Dell, SoFi CEO Anthony Noto, investor Kevin O’Leary, and “Curb Your Enthusiasm” actress Cheryl Hines — the wife of Health and Human Services (HHS) Secretary Robert F. Kennedy Jr.
O’Leary, the “Shark Tank” investor known as “Mr. Wonderful,” focused his remarks on the power of compound growth and the importance of financial literacy for the next generation. O’Leary emphasized the summit’s goal of instilling financial responsibility in youth, noting that these accounts provide a “hands-on education” in investing that classroom curriculums often lack. He also supported the administration’s vision of turning “every American into a shareholder,” arguing that having a material stake in the stock market allows all citizens to benefit from national economic growth and technological gains. O’Leary further highlighted how the initial $1,000 federal “seed” money, when left to compound in index-tracking funds until age 18, creates a “solid financial footing” for young adults to eventually pay for college, start a business, or buy a first home.
Rapper Nicki Minaj, a recently-vocal Trump supporter, also addressed the summit.
Beyond her public appearance, Minaj committed between $150,000 and $300,000 to fund “Trump Accounts” specifically for her fan base. These accounts are scheduled to officially open for contributions and market investments in July 2026.
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