WASHINGTON — The Treasury Department has announced the launch of a new mobile app tied to the Trump Accounts program, a federally backed savings and investment initiative for children that is scheduled to officially begin accepting contributions on July 4.
Treasury Secretary Scott Bessent said during a Cabinet meeting that the app would be available through major mobile platforms beginning Thursday, according to multiple news reports and Treasury statements.
The Treasury Department described the app as a “secure, user-friendly platform” that will allow families to access and manage Trump Accounts, monitor balances and investment growth, and schedule contributions. Treasury said it will retain operational control of the platform.
Seeded With $1,000
The accounts were created under the One Big Beautiful Bill Act signed into law in 2025 and are designed to provide eligible children with long-term investment savings accounts seeded with $1,000 from the federal government. Eligible children must be U.S. citizens with Social Security numbers and born between Jan. 1, 2025, and Dec. 31, 2028, according to Treasury and IRS guidance.
Treasury said nearly six million children have already been enrolled through the IRS ahead of the July 4 contribution launch date.
The app was developed with assistance from BNY Mellon and Robinhood, which Treasury identified as key partners supporting the program’s rollout and account management infrastructure.
According to Treasury, funds in the accounts will initially be invested in low-cost U.S. equity index funds. Parents and other contributors, including employers, relatives, charities and local governments, may contribute up to $5,000 annually, though certain charitable or government contributions may not count toward that cap.
Objective of Accounts
The Treasury Department and IRS have said the accounts are intended to promote long-term savings, investing and financial literacy among younger Americans. Children will generally gain access to the funds when they turn 18 and may use the money for approved purposes such as education expenses, purchasing a home or starting a business.
The app also includes financial education tools and account management features for parents, according to ABC News and Treasury officials.
