Trump Accounts Hit 6 Million Sign-Ups, But Millions of Eligible Kids Still Missing Out

More than 6 million American children have been enrolled in Trump Accounts as of mid-June 2026, ahead of the program's official July 4 launch. The accounts, open to any U.S. child under 18 with a Social Security number, allow tax-deferred investing and include a one-time $1,000 seed contribution from the Treasury for babies born between 2025 and 2028. Parents sign up by filing IRS Form 4547 with their 2025 tax return or through TrumpAccounts.gov.

Despite the 6 million figure, the program has a significant participation gap. With roughly 73.1 million children under 18 in the U.S., the current enrollment represents only a fraction of those eligible. More starkly, just 1.4 million children — about 39% of those eligible for the $1,000 pilot contribution — have been signed up to receive that seed money, meaning more than half of qualifying babies remain unenrolled, according to the Urban Institute's Madeline Brown.

Private money is also flowing in. Tech billionaire Michael Dell and his wife Susan committed $6.25 billion to provide an additional $250 for children born between 2016 and 2024 living in ZIP codes with median incomes at or below $150,000. Treasury Secretary Scott Bessent has pushed a "50-state challenge" to recruit philanthropists, charities, and local governments in every state to seed accounts for qualifying families.

Financial experts broadly endorse signing up to capture any free contributions, noting that early compounding can dramatically boost long-term wealth. But the program's structure has critics. Because pretax funds in the accounts will be taxed as ordinary income upon withdrawal — and early withdrawals before age 59½ carry a 10% penalty — the rules may deter lower-income families. The Cato Institute's Adam Michel warned the system could end up being used primarily by those best positioned to navigate its complexity.

The opt-in enrollment model is a central concern for equity advocates. While Treasury data shows 86% of accounts opened are linked to families earning under $200,000, that figure actually signals overrepresentation by higher-income families — roughly 95% of all households with children fall below that threshold. Brown argues only automatic enrollment would ensure the program reaches its full potential, particularly for lower-income families who are less likely to file taxes and thus less likely to discover or access the accounts.