What Is a Trump Account? 
A Trump account is a type of traditional individual retirement account (IRA) established by an authorized individual for the exclusive benefit of a child

1. Make the election to establish an initial Trump account for the exclusive benefit of a child who is eligible for a Trump account.
2. Make an election for a $1,000 pilot program contribution from the U.S. Treasury to a child’s Trump account if they are eligible for the contribution.

Growth Period 
The growth period for a Trump account starts on the date the Trump account is established and ends on December 31st of the year before the calendar year in which the child turns age 18.

Pilot Program Contribution Election
An authorized individual can make an election for a $1,000 pilot program contribution to be made to a Trump account for a child, who: • Is anticipated to be the qualifying child of the authorized individual for the year in which the election is made (see Pub. 501 for further information regarding qualifying child status); • Is born after December 31, 2024, and before January 1, 2029; • Has not had a prior pilot program contribution election processed for them; • Is a U.S. citizen; and • Has an SSN