If you’re a parent or grandparent looking to jumpstart a child’s financial future, the Social Security Administration (SSA) has made it easier to enroll eligible newborns in the new Trump Account program. While the accounts are administered through the Treasury Department and the IRS, SSA is integrating enrollment into its existing birth registration process so eligible families can get started with less paperwork.
With a federal pilot program offering a $1,000 contribution to eligible newborns, this initiative is designed to put American families on a path toward long-term wealth building. Whether you are welcoming a new addition to the family or managing savings for a child under 18, here is what you need to know about the enrollment process.
