'Trump Accounts' for kids just got a $6B boost. How can you claim one?

Core Points - The "Trump Accounts" initiative provides a $1,000 deposit for every child born between 2025 and 2028, aimed at encouraging savings and wealth building for future expenses [1][2] - The program is part of a broader tax and spending package signed into law by President Trump, designed to support various tax-advantaged savings plans [2][5] - Michael Dell has pledged over $6 billion to enhance the program, potentially increasing the value of approximately 25 million accounts by $250 each [3] Account Mechanics - The government will create a "Trump Account" for every baby born in the specified timeframe, funded with a one-time deposit of $1,000, requiring only a Social Security number for qualification [6] - Parents can contribute up to $5,000 annually until the child turns 18, with employers allowed to contribute an additional $2,500, and other entities permitted to make contributions as well [7] - Funds in Trump Accounts must be invested in low-cost stock index funds, such as those tracking the S&P 500 [8] Post-18 Account Functionality - After the age of 18, Trump Accounts will function similarly to IRAs, with parent contributions being after-tax and withdrawals of contributions not being taxable, although earnings will be taxed upon withdrawal [10]