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US Treasury to auto-open Trump Accounts for 60+ million children
The Treasury Department will automatically open Trump Accounts for more than 60 million eligible children starting Oct. 1, no parent application needed, under temporary regulations.
Why it matters
The U.S. Treasury Department and IRS have issued temporary regulations to automatically open Trump Accounts for eligible children starting on or about Oct. 1 — expected to add more than 60 million accounts this year without parents or guardians first filing an application. It is the program's biggest expansion since its July 4 launch: voluntary sign-ups processed fewer than 8% of an estimated 73 million eligible children, prompting Treasury to switch to auto-enrollment.
Full report
Auto-accounts target children under 18 at year-end with a Social Security number who do not already have an account. Treasury will activate the accounts through a trustee it selects, with funds invested collectively through a Treasury-administered master trust. Parents or legal custodians can later claim the account via an electronic application, verifying identity and legal authority.
Important distinction: auto-enrollment is not the same as the $1,000 federal seed deposit. A parent must still elect to receive it through a tax filing for a qualifying child born 2025–2028. Treasury Secretary Scott Bessent told a House hearing on Sept. 15 he expects about 70 million accounts within a month.
Sources: U.S. Treasury/IRS temporary regulations (published Sept. 30, effective Oct. 1); reporting by WSJ, Sinclair, College Investor (Oct. 1, 2026)
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