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Millions of children will soon be automatically enrolled in Trump Accounts, according to new rules released Tuesday (September 29). This change, announced by the Department of the Treasury, means parents will no longer need to manually sign up for the program, which allows families to invest for their children's future.
The auto-enrollment process is expected to create accounts for over 60 million additional children under 18, significantly increasing the number of participants from the current 7 million. Treasury Secretary Scott Bessent mentioned that the number of accounts could reach 70 million soon.
The Trump Accounts, established under the One Big Beautiful Bill signed by President Trump in July 2025, allow children born between 2025 and 2028 to receive a $1,000 federal contribution. Once the child turns 18, the account will function as a traditional individual retirement account (IRA). However, parents must still request the $1,000 contribution and claim their child's account before making deposits or receiving employer contributions.
The auto-enrollment aims to increase participation, especially among low-income families who have faced barriers in accessing these accounts. The Social Security Administration plans to enroll newborns during the birth registration process at hospitals, which could further streamline access.
While the new rules simplify the enrollment process, families must still engage with the program to maximize its benefits. As Madeline Brown from the Urban Institute noted, there is still work to be done in building awareness and engagement among families to ensure they take full advantage of the Trump Accounts.