Up to 25 million Americans could receive $250 — check eligibility under Trump plan

A major new savings initiative tied to President Donald Trump could put $250 into investment accounts for up to 25 million American children. The funding does not come from taxpayers. Instead, it is being driven by a $6.25 billion private donation from tech billionaire Michael Dell and his wife, Susan Dell, announced on Giving Tuesday, Dec. 2.

The money will be deposited into newly created Trump Accounts, a federal tax-deferred savings program for children authorized under Trump’s Working Families Tax Cuts Act. The accounts are designed to give children an early financial start by allowing investments to grow over time, similar in structure to 529 college savings plans.

According to the White House, eligible families will not need to apply separately for the Dell-funded $250. Parents only need to open a Trump Account once the program launches. If their child qualifies, the contribution will be added automatically.


The announcement comes as the administration continues to promote family-focused tax policies ahead of 2026, including expanded child savings incentives and new holidays for some federal workers. While the IRS has not yet released full regulatory guidance, key eligibility rules and timelines are now becoming clear.

Below is what families need to know about who qualifies, how the accounts work, and when parents can begin enrolling.

What are Trump Accounts and how do they work?

Trump Accounts are tax-deferred investment accounts created for children under 18 who have a valid Social Security number. The program was authorized through President Trump’s Working Families Tax Cuts Act and is intended to encourage long-term saving starting in childhood.

The accounts are structured to allow investments to grow over many years. Earnings are not taxed annually. Withdrawals are restricted until the child turns 18. At that point, the balance is transferred into an individual retirement account (IRA), where standard tax rules apply to future withdrawals.

The White House has said the program is designed to increase long-term financial stability and improve outcomes in education, homeownership, and workforce participation.

Who qualifies for the $250 Dell-funded contribution?

The $250 contribution funded by Michael and Susan Dell is targeted at children aged 10 or younger who were born before Jan. 1, 2025. The donation is large enough to cover approximately 25 million children nationwide.

Eligibility is also limited by geography. Children must live in ZIP codes where the median household income is $150,000 or less, according to the Dells’ announcement.

Children over age 10 may still qualify if funds remain after the initial enrollment period. Parents do not need to submit a separate application for the Dell contribution. Opening a Trump Account is sufficient to trigger the deposit, provided eligibility requirements are met.

“This program gives children more than a savings account,” the Dells said in a statement. “It gives them momentum, confidence, and opportunity.”

How does the Treasury’s $1,000 seed money for newborns work?

In addition to the private $250 contribution, the federal government is offering a one-time $1,000 Treasury deposit for children born between 2025 and 2028.

Parents can claim this government-funded contribution by filing IRS Form 4547 once Trump Accounts become available. After the form is submitted, the Treasury will issue instructions to activate the account through an approved agent.

Michael Dell told CNBC that research shows children with early financial accounts are more likely to graduate, attend college, and achieve long-term financial stability. The Dells’ donation is designed to extend similar benefits to families whose children were born before the government seed program officially begins.

When parents can open Trump Accounts

The White House says parents will be able to establish Trump Accounts starting July 4, 2026. Once the program launches, families can open accounts at any time and elect to receive applicable contributions.

IRS guidance is expected in mid-2026, including details on approved providers, investment options, and reporting requirements.

For millions of families, the combination of private funding and federal support could mean a meaningful financial foundation for children before they reach adulthood — with no upfront cost beyond opening the account.

FAQs:

Q: Who is eligible to receive the $250 Trump Account contribution, and is it taxable?

A: The $250 contribution applies to children aged 10 or younger who were born before Jan. 1, 2025. Eligible children must live in ZIP codes with a median household income of $150,000 or less. Parents must open a Trump Account to receive the funds. The contribution is tax-deferred, not taxable when deposited.

Q: When can parents open Trump Accounts and claim the $1,000 Treasury seed money?

A: Trump Accounts will be available beginning July 4, 2026. Parents of children born between 2025 and 2028 can claim the $1,000 Treasury deposit by filing IRS Form 4547. Once filed, the Treasury will provide activation instructions through an approved agent. Withdrawals are restricted until the child turns 18.