Trump Accounts will launch July 5 as a new child savings program.

The federal government will deposit $1,000 into Trump Accounts for babies born from Jan. 1, 2025, to Dec. 31, 2028, and the program is scheduled to begin on July 5, 2026.

President Donald Trump promoted Trump Accounts during his State of the Union address and the White House says the program will launch on July 5. The accounts were created under the One, Big, Beautiful Bill Act signed into law July 4. The program gives eligible children a government seed deposit and allows additional contributions from family, employers and others. The White House has reported millions of signups and says parents will receive account information beginning in May. Key details: - The Treasury will deposit $1,000 into accounts for babies born Jan. 1, 2025, through Dec. 31, 2028; only U.S. citizens are eligible, according to the announcement. - Trump Accounts are described as tax-advantaged investment accounts for minors; the government says funds will be invested in a suite of low-cost index funds. - Individuals, families and companies may add to accounts; the article reports a total contribution limit of $5,000 per year with a separate employer contribution cap of $2,500 per year. - Funds are reported as locked until the account holder turns 18; at that time the accounts are to be treated like traditional IRAs and may be used for education, a first home purchase, or to start a business without penalties. - The article notes several corporate and philanthropic pledges, including matching contributions from companies such as JPMorgan Chase, Intel and Steak 'n Shake, a $6.25 billion gift from Michael and Susan Dell for targeted supplemental payments, and a Dalio pledge for children in Connecticut. - The White House said about 3 million children have had applications filed and that parents and guardians who signed up will receive further information beginning in May. Summary: The program establishes a federally seeded savings account for eligible children and includes private matching and philanthropic contributions. Officials report substantial early signups and say more account information will be sent to families in May. The formal program start date is July 5, 2026.