Trump declares Trump Accounts enrollment complete: 70 million children now have accounts
Trump told a crowd of children in the Oval Office that roughly 70 million under-18s are now automatically enrolled in Trump Accounts — but parents must claim each account through the official app before the $1,000 federal seed or family contributions can flow.
President Donald Trump marked the completion of automatic enrollment in his signature Trump Accounts child-savings scheme at an Oval Office event on Wednesday, declaring that roughly 70 million children under 18 with valid Social Security numbers now hold an account.
“Since launching in July, nearly 8 million accounts have been created in three months,” Trump said, reported the New York Post, adding that more than $4.5 billion had been deposited in Trump Accounts since 4 July. Automatic enrollment, which the Treasury announced last week, vastly extends the programme from its weak opt-in start.
There is a catch: a parent or guardian must claim the account — via the Trump Account mobile app — before they can manage it, permit contributions, or receive the one-time $1,000 federal deposit for babies born between 1 January 2025 and 31 December 2028. Until claimed, the Bank of New York Mellon acts as trustee.
The funds come from the $6.25 billion pledge Michael and Susan Dell first announced in December 2025 — $250 for 25 million account holders — with Michael Dell saying at the event the money would be deposited by the end of the week. Roughly 80% of accounts are linked to families earning under $200,000 a year, a White House official told Fox Business. Trump thanked the Dells, told the event “This money is your child’s future,” and handed out challenge coins.
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