The Money Account for Growth and Advancement (MAGA) accounts, now officially known as Trump Accounts, are live.
This initiative is deliberately designed for the American people; a pro-growth, business-minded approach that empowers everyday families to participate in the stock market alongside major institutions.
In a historic first, President Donald J. Trump rang the opening bells for both the New York Stock Exchange and Nasdaq directly from the Oval Office on July 6, 2026.
Surrounded by Cabinet officials, business leaders including Michael and Susan Dell, investor Brad Gerstner, NYSE President Lynn Martin, Intercontinental Exchange CEO Jeffrey Sprecher, Sen. Ted Cruz (R-TX), SEC Chair Paul Atkins, and a group of children, President Trump struck a ceremonial gold bell on his desk.
The event marked the public rollout of the program and the first joint NYSE-Nasdaq opening bell from the White House. Markets opened positively afterward.
Created under the One Big Beautiful Bill, the program launched on July 4, 2026. Contributions are now open, and the first $1,000 federal seed deposits for qualifying newborns have begun to flow. Parents, guardians, employers, and approved donors can open accounts and begin contributing immediately.
More than 6 million accounts were requested pre-launch, signaling strong early demand, especially among working and middle-class families. With roughly 70 million children under 18 in the U.S., the initiative was heavily promoted, and families could pre-elect participation via IRS Form 4547 even before the official launch.
While the $1,000.00 federal seed deposit is available only for children born between January 1, 2025, and December 31, 2028, the program is open to every U.S. citizen under age 18 with a Social Security number. Qualifying newborns receive an immediate one-time $1,000.00 deposit from the U.S. Treasury.
Contribution Rules
Families, guardians, and other individuals can contribute up to $5,000.00 per child annually (combined total). Employers may contribute up to $2,500.00 per employee, which counts toward the overall $5,000.00 annual cap.
These contributions grow tax-deferred, with investments compounding without taxes until withdrawal. At that point, earnings are taxed as ordinary income to the beneficiary, unlike Roth-style accounts, where qualified withdrawals are typically tax-free.
The structure functions like a traditional IRA during the child’s growth years and transitions to standard IRA rules at age 18. Employer contributions require a formal Trump Account Contribution Program and must comply with nondiscrimination rules.
Investments
Funds are restricted to low-cost U.S. equity index funds or ETFs, such as those tracking broad market indices like the S&P 500. This straightforward, patriotic design emphasizes investment in American companies while reassuring families with simplicity.
In classic Trump style, the President praised Dell Technologies during the Oval Office event and urged Americans to “go out and buy a Dell.” The market responded immediately, Dell shares soared as much as 7.8% that day.
This initiative also benefits corporations by directing long-term capital into U.S. companies and private-sector support has been robust.
Private-sector support has been robust. Philanthropists Michael and Susan Dell have committed $6.25 billion, including targeted $250 additions for the first 25 million qualifying children (primarily in lower-income ZIP codes). Hedge fund founder Ray Dalio and his wife Barbara have pledged $250.00 each to approximately 300,000 children in Connecticut ZIP codes with median incomes below $150,000.00.
Several major companies have also pledged to match the government’s $1,000.00 seed contribution for eligible employees’ children, including Goldman Sachs, Morgan Stanley, JPMorgan Chase, Bank of America, Robinhood, Intel, Micron (with an additional $250 million community investment), IBM, Broadcom, Coinbase, Uber, and many others.
Access & Withdrawals
Withdrawals are generally prohibited before age 18, with limited exceptions such as the beneficiary’s death, return of excess contributions, or in the year the child turns 17, a rollover to an ABLE account for disabled individuals.
At age 18, the account holder gains full control as the program transitions to traditional IRA rules. Funds can then be used for major life steps such as education or a first home, subject to ordinary income taxes on earnings and standard IRA early-withdrawal penalties (before age 59½), with applicable exceptions. In many cases, the balance can be converted to a Roth IRA or rolled over for continued tax advantages.
Administration is handled through Department of the Treasury and IRS oversight and is accessible via trumpaccounts.gov, with enrollment primarily through IRS Form 4547. The program has shown particularly strong resonance with households earning under $200,000.00, supporting its goal of building generational wealth through ownership.
During the Oval Office ceremony, President Trump emphasized the link between family prosperity and a strong stock market. The presence of young children served as a powerful visual reminder of the program’s purpose.The innovative public-private model and promising early momentum demonstrate strong support for democratizing access to investing. For families, these accounts provide a practical tool for long-term planning; one of the signature initiatives of the One Big Beautiful Bill and a bold step toward fostering financial literacy, ownership, and opportunity for the next generation.
