US Social Security Administration Commissioner Frank Bisignano joins ‘Mornings with Maria’ to explain how the Trump administration’s tax agenda can deliver record tax refunds, expand senior benefits and improve government services.
The president Donald Trump is expected to share more details this week about the much-anticipated “Trump accounts,” an initiative that would set up newborns through a government-sponsored investment program.
Trump will launch an event Wednesday at the Treasury Department along with senior administration officials and key stakeholders.
‘TRUMP ACCOUNTS,’ EXPLAINED: WHO’S ELIGIBLE, HOW THEY WORK AND WHEN TO FILL
A screenshot of the home page of the Trump account. (White House)
Enshrined in the One Big Beautiful Bill Act, the accounts act as long-term investment vehicles, but they have rules designed to protect them. young people.
Available only to those under the age of 18, they are funded by the organization’s seed money, private donations from families and, where appropriate, additional deposits from employers or non-profit organizations.
A Trump account can be opened by any child under the age of 18 with a legal document social Security number. An authorized adult, usually a parent, guardian, sibling or grandparent, must be the one to set up the account.
MICHAEL AND SUSAN DELL DONATE $6.25B TO FUND ‘TRUMP ACCOUNT’
The system is scheduled to be available in mid-2026, and the first contributions will be after July 4. Parents of children born in 2025 to 2028 may open an account by filing. IRS Form 4547, not yet issued by the IRS, or by registering online at TrumpAccounts.gov.
The treasurer will make a one-time deposit of $1,000 into every eligible Trump child account. (Getty Images / Getty Images)
After the application is accepted, the Ministry of Finance will start the process of using the account.
The treasurer will make a one-time deposit of $1,000 into every eligible Trump child account.
Individuals can also contribute up to $5,000 per year to the account. In addition, funds from another Trump account may be transferred, meaning that money already held in one Trump account can be transferred directly to a new or different Trump account without counting the annual contribution limit.
Employers participating in the Trump account program can contribute up to $2,500 per year.
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Michael Dell, CEO of Dell Technologies and his wife Susan speak during the announcement of a $6.25 billion donation from the Dell family to the “Trump Accounts,” in the Roosevelt Room of the White House in Washington, DC on December 2, 2025. (Andrew Caballero-Reynolds/AFP/Getty Images/Getty Images)
However, the rules governing how these accounts will actually work are still being drafted, and many important details remain unsettled.
So far, the IRS has only issued preliminary guidance and is now seeking public comment – a formal process that allows parents, financial professionals, companies and advocacy groups to weigh in before the rules are finalized.
The comment period continues until Feb. 20, 2026, which means that many aspects of the program will still change.
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