Starting in 2026, Trump Accounts offer families a new tax-advantaged way to save for their children’s futures. These accounts, created under the One Big Beautiful Bill Act, are available only to U.S. citizens under 18. Up to $5,000 per year can be contributed to Trump Accounts. Although contributions aren’t tax deductible, the accounts will grow tax-free until the child is 18, when the account converts into a traditional IRA. Parents of babies born between Jan. 1, 2025, and Dec. 31, 2028, who elect to participate in a pilot program will also receive a one-time, tax-free $1,000 federal contribution to their child’s account. Contact us to learn more.
