Trump sends $1,000 to some families: Check eligibility and requirements to receive free money

On Thursday, May 29, the U.S. Department of the Treasury announced the launch of the Trump Account app. The app was developed in partnership with BNY and Robinhood and is currently available in app stores nationwide.

President Donald Trump sets up tax-deferred savings account for children under 18 through One “The Big Beauty Act” (OBBBA), passed by Congress last summer. Certain qualifying children are expected to receive up to $1,000 in initial funding.

Trump accounts have been promoted as a way for families to give their children a financial advantage and watch their savings grow over time. Now, families can do this directly from their smartphones using a dedicated app.

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The announcement comes ahead of the official launch of the Trump account on July 4, 2026 – coinciding with the 250th anniversary of America’s independence. In addition, the Treasury Department will contribute $1,000 to the Trump account of newborns with Social Security numbers who were born in the United States between January 1, 2025, and December 31, 2028.

The $1,000 deposit could be credited to Trump’s account “as early as July 4,” according to a visual of the app displayed on the Trump Account website.

As stated in the Treasury Department’s press release, once the form is submitted, users will begin receiving guidance on how to complete the account setup process. Parents can expect to receive an activation email for their child from now until July 4th trump account.

During the initial phase of the rollout, activation emails will be sent exclusively from the following email address: no-reply@TrumpAccounts.Treasury.gov. Please follow the instructions provided in the email to successfully activate your account through the Trump Accounts app.

The Treasury Department advises parents to be wary of scams and emphasizes that the Treasury Department will not contact individuals via text message or phone call regarding Trump account activation.

“If you receive a call or text message regarding a Trump account, please do not respond, it is likely a scam,” the Treasury Department stressed in a press release.

Parents and other donors can make after-tax contributions of up to $5,000 per child per year until they turn 18, and withdrawals from those contributions remain tax-free. However, any income generated from these contributions will be taxed upon withdrawal.

Employers can contribute up to $2,500 toward the $5,000 annual limit. In addition, eligible charitable organizations and government entities will have the opportunity to make further contributions above the $5,000 limit.

As stated on the Trump Account website, if a parent or other qualified contributor deposits up to $5,000 in after-tax contributions each year until the child turns 18, the account balance could grow to an impressive $271,000.