https://www.irs.gov/trumpaccounts

Trump Accounts give the next generation a jump start on saving

The  Working Families Tax Cuts  allows parents, guardians and other authorized individuals to establish a new type of individual retirement account for their children, called Trump Accounts. The account is for a child who has not turned age 18 before the end of the calendar year in which the election is made and has a valid Social Security number.

The account features a pilot program contribution of $1,000 for children born between Jan. 1, 2025, and Dec. 31, 2028, and who are U.S. citizens with a valid Social Security number.

To get started, sign in to your IRS account with ID.me and   submit Form 4547.

You can also view the status of previously submitted Trump Account election forms.

Learn more about Trump Accounts at   trumpaccounts.gov .