Treasury Secretary Scott Bessent provided more details on the administration-backed “Trump Accounts” program that allows investments to be made by U.S. children.
On Dec. 17, Bessent said parents whose children are born this year and in the coming few years will enroll in the program by selecting it on a newly created IRS form when they file their taxes. A financial institution will then automatically open and manage that account, he said.
“To claim this investment, most families need merely to check a box on Form 4547,” he said, referring to the IRS form.
The accounts will be provided to U.S. children born between Jan. 1, 2025, and Dec. 31, 2028. They will be given an initial $1,000 to be invested into a fund, and up to $5,000 can be put into the accounts each year by parents….
Treasury Secretary Gives IRS Details on New ‘Trump Accounts’
