US Treasury to automatically enroll children in Trump Accounts — CNBC

The US Department of the Treasury may begin automatically enrolling millions of children in the Trump Accounts investment account program as early as October 1. According to CNBC, the department has published interim rules to introduce this mechanism.

More than 60 million new accounts

The US Treasury said the changes could increase the number of children enrolled in Trump Accounts by more than 60 million in 2026. In subsequent years, automatic enrollment could add approximately two million accounts annually, according to the department's estimate.

US Treasury Secretary Scott Bessent said at a September 15 hearing of the House Financial Services Committee that between 7 million and 8 million American children had already joined the program at that time. According to him, the number of accounts could reach 70 million within a month due to the transition to automatic enrollment.

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Program terms

Trump Accounts are tax-deferred investment accounts launched on July 4. For children born in 2025–2028, the Treasury has provided a one-time contribution of $1,000. Additional funds may also be available to families that meet the established criteria.

Previously, parents had to apply for participation independently: through IRS Form 4547 together with their tax return or on the TrumpAccounts.gov website. Studies cited by the publication indicated low participation rates, especially among low-income families. The US Social Security Administration had also previously announced plans to enroll newborns in hospitals while issuing Social Security numbers.