We’ve been seeing a lot of news about the advent of Section 530A Accounts (“Trump Accounts”) for young children, and we wanted to share details in case your children/grandkids are eligible.
Section 530A Accounts were authorized in summer 2025’s One Big Beautiful Bill. They are best described as starter custodial Individual Retirement Accounts for children born between 2025 and 2028. Parents manage the accounts until children take over at age 18, and children can receive $1,000 from the US treasury in these accounts if they meet the following qualifications:
- A U.S. citizen or child with a Social Security Number qualifies, and
- Born between 1/1/25 and 12/31/28 .
While these accounts are currently funded and held at the US Treasury, we expect that they will be eligible to be held elsewhere, eventually.
For guidance on how to think about or use these accounts, please contact us to discuss.
If you want a more in-depth summary, feel free to peruse &Partners’ guide on our website.