The Treasury Department announced the completion of automatic enrollment for Trump Accounts, tax-advantaged investment accounts for American children.
Details: Treasury said every eligible child under the age of 18 with a valid Social Security Number now has a Trump Account, and a parent or guardian must claim the child’s account to manage it.
Account Developments: The Treasury Department previously:
- Announced proposed guidance governing eligible investments in Trump Accounts and issued proposed regulations on employer contributions.
- Announced the official launch of the full Trump Accounts app.
- Designated the Bank of New York Mellon as a financial agent of the U.S. government to support implementation of Trump Accounts.