‘Trump’ Kids Accounts Get $6B Boost — How to Claim One

A recent Yahoo Finance report says accounts marketed under the “Trump” label for minors have just received a $6 billion boost intended to expand access to child savings vehicles. Officials and program operators describe the infusion as a significant step to widen participation, streamline enrollment and pair accounts with educational resources and financial literacy tools. While details on distribution and timing are still being finalized, families and guardians are asking the practical question: how do you claim one for your child?

First, confirm whether your child is eligible. Programs that create child-designated accounts typically set eligibility criteria by age, residency or household income. Look for an official program website or state portal referenced in the announcement and verify the program’s sponsoring organization before providing personal information.

Next, gather required documentation. Most custodial or government-linked children’s accounts require the child’s Social Security number or taxpayer ID, and the adult custodian’s identification. You may also need proof of residency and basic income information if the program uses means-testing.

Then enroll through the program’s verified channel. Many programs allow online registration where you create a custodian profile, enter the child’s details, and select account options. Some initiatives partner with banks or financial firms; in those cases you’ll be redirected to the partner’s secure application process.

Fund and manage the account. Initial funding options can include direct deposits, one-time transfers, recurring contributions, or government seed deposits if the program provides them. Understand contribution limits, withdrawal rules and any tax advantages or reporting requirements tied to the account structure (for example, custodial UTMA/UGMA accounts versus tax-advantaged 529 plans).

Watch for deadlines, identity-verification steps and anti-fraud measures. Only use official links from the program announcement, and be wary of solicitations on social media. If you have doubts, contact the program sponsor or a trusted financial advisor.

As administrators release implementation details following the $6 billion allocation, families should prepare documentation and confirm official enrollment windows. The boost could expand access, but successful participation depends on careful verification and timely enrollment.