Trump sends out $250 checks to 25 million Americans — see if you are on the list

Trump Accounts eligibility requirements: CEO Michael Dell and his wife, Susan, pledged $6.25 billion to support Trump Accounts on Giving Tuesday, a new tax-advantaged savings program for children.

Michael Dell and Susan Dell Pledge $6.25 Billion for Children’s Savings

The donation will provide $250 contributions to accounts for roughly 25 million American children living in ZIP codes with a median income of $150,000 or less, as per a report.

Trump Accounts: A Tax-Advantaged Program for Young Americans

The Trump Accounts program, created under US president Donald Trump’s Working Families Tax Cuts Act, allows parents to open savings accounts for children under 18 with a Social Security number, as per The Mirror report.


The program aims to encourage families to save early, with funds growing over time similar to a 529 college savings plan. Withdrawals are not allowed until the child turns 18, at which point the assets are rolled into an IRA and taxed.

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Who Is Eligible for the $250 Dell Contribution

Children born before January 1, 2025, who are 10 years old or younger will automatically receive the $250 contribution from the Dells once a Trump Account is opened.

Children older than 10 may also be eligible if funds remain after initial sign-ups.

One-Time $1,000 Seed Contribution from the US Treasury

Parents of children born from the start of 2025 through 2028 will also benefit from a one-time $1,000 seed contribution from the US Treasury once IRS Form 4547 is completed to open the account.

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How Trump Accounts Work: Savings and Growth Over Time

Michael Dell told CNBC that the program “It’s designed to help families feel supported from the start and encourage them to keep saving as their children grow,” adding, “We know that when children have accounts like this, they’re much more likely to graduate from high school, from college, buy a home, start a business and less likely to be incarcerated," as quoted by The Mirror. He also said that, "We want to help the children that weren’t part of the government program."

Opening a Trump Account: Step-by-Step Guidance

Parents will be able to open Trump Accounts beginning July 4, 2026, and after completing IRS Form 4547, the Treasury or its agents will provide instructions to activate the account.

FAQs

What are Trump Accounts?

Trump Accounts are tax-advantaged savings accounts for children under 18, created under President Trump’s Working Families Tax Cuts Act.

Who pledged money to these accounts?

Michael Dell and his wife, Susan, pledged $6.25 billion to support Trump Accounts.