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Govt Unveils “Trump Accounts” Kids IRA, $1,000 Seed Deposit

7/26/2026

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Summary

Story summary

The U.S. government launched Trump Accounts, a tax-deferred IRA for children under 18, on July 4 2026, providing a $1,000 seed deposit for those born Jan 1 2025–Dec 31 2028.
The program allows families, employers and philanthropists to contribute up to $5,000 per child annually, with $2,500 of each contribution excluded from taxable income.
At age 18 the account can be rolled into a Roth IRA, potentially growing to $200,000 tax-free after college.

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Story summary

The U.S. government launched Trump Accounts, a tax-deferred IRA for children under 18, on July 4 2026, providing a $1,000 seed deposit for those born Jan 1 2025–Dec 31 2028.
The program allows families, employers and philanthropists to contribute up to $5,000 per child annually, with $2,500 of each contribution excluded from taxable income.
At age 18 the account can be rolled into a Roth IRA, potentially growing to $200,000 tax-free after college.