Your child could soon have a ‘Trump account’ even if you never signed them up

The U.S. Treasury Department plans to start automatically enrolling children in "Trump accounts," which may increase their enrollment by nearly ten times. Parents currently need to submit an IRS form to open these tax-advantaged investment accounts, but new regulations would allow automatic enrollment starting Thursday. Eligible children who do not already have an account will be added without parental input.

This change could increase the number of children enrolled in the accounts, known as 530A accounts, by more than 60 million by 2026. Currently, only 7 million to 8 million of the 73 million eligible children have enrolled, mainly due to the need for parents to fill out a one-page form and submit it with their taxes or to the IRS.

Experts warn that the process of claiming an account for each child could still limit participation, particularly among low and moderate-income families. Trump accounts were introduced as part of the One Big Beautiful Bill Act in 2025, allowing up to $5,000 per year to be deposited for each child until age 18. The accounts launched on July 4, with a one-time $1,000 deposit for children born between 2025 and 2028, and additional gifts for children born between 2016 and 2024 in certain zip codes.

Despite the potential benefits of auto enrollment, the policy's reach may still be hindered by the need for parents to claim the accounts for their children.