Latest Trump Account changes: What families need to know now
The U.S. Treasury Department has implemented automatic enrollment for 'Trump Accounts,' a federal savings and investment program for children. This change aims to increase participation rates, which were previously low under an opt-in system.
Why it matters
The shift to automatic enrollment significantly expands access to government-backed financial vehicles for millions of American children.
The Treasury Department announced on October 1 that it had automatically enrolled all eligible children for Trump Accounts, the new federal savings and investment vehicle for kids that went live on July 4.
Until now, parents had to proactively sign up for a Trump Account, but fewer than eight million were opened as of this summer – just a fraction of the tens of millions of children eligible to have one.
“With automatic enrollment, over 60 million more eligible children now have an account ready to be claimed,” said Treasury Secretary Scott Bessent. “This is a transformative milestone in the Trump Administration’s effort to give every American child the opportunity to build generational wealth and jump-start their financial future.”
The Treasury estimates that the new auto enrollment structure will create an additional two million accounts every year.
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