US2 min(s) read
Published 14:06 28 May 2026 GMT
Donald Trump has officially unveiled the app for his new savings initiative, “Trump Accounts,” with the platform now available on all major app stores.
The launch comes shortly after the US national debt surpassed $39 trillion, increasing by more than $1 trillion since October 2025. While the country’s finances continue to face pressure, Trump’s latest project is aimed at helping younger Americans build savings from an early age.
Trump Accounts function similarly to IRA-style savings accounts for children. Like IRAs, the funds are tax-deferred, though the money cannot be accessed until the account holder turns 18.
Any US citizen under the age of 18 with a valid Social Security number is eligible, provided they are still under 18 by the end of the calendar year the account is opened. The accounts are intended to be managed by parents or guardians, who can monitor and invest the funds on behalf of their children.
Speaking about the launch, Treasury Secretary Scott Bessent said: “The Trump Administration is taking another step forward in expanding opportunity for American families.”
He added: “The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from day one. By putting easy access to Trump Accounts directly in the hands of parents and young Americans, we are helping to ensure that America’s youth are included in this new era of economic participation.”
According to Bessent, via CNN, nearly six million children already have accounts set up through the system. The program also includes a government contribution for eligible children born within a specific period.
For every child born between January 1, 2025, and December 31, 2028, the federal government will deposit $1,000 into their account.
Additional contributions can also be made by parents, employers, relatives, or friends, with annual deposits capped at $5,000 per child.
The first government payments are expected to begin on July 4, which marks America’s 250th birthday, and that date will also officially open the accounts for investing.
Until then, a Treasury spokesperson told CNN the app already “features eight exclusive financial literacy modules that families can access now.”
Parents and guardians who want to create an account can register through the official Trump Accounts website, while the app is also available to download through both the Apple App Store and Google Play.
