The Donald Trump Administration recently announced nearly 70 million investment accounts for American children, the vast majority through automatic enrollment.
So how can you claim your child's account, and what do the "Trump Accounts" actually do?
Who is eligible for a Trump Account?
According to a release from the White House, every American child who is under 18 with a Social Security number has an account in their name.
How do I claim my child's Trump Account?
Parents can claim their child's account through the Trump Accounts App.
Do I get anything for claiming a Trump Account?
According to TrumpAccounts.gov, any account claimed for an American child born between Jan. 1, 2025 and Dec. 31, 2028 will receive an automatic $1,000 to jump start their investments.
Where does the Trump Account money come from?
The $1,000 investment starter comes from the U.S Treasury, according to the website.
Where does my child's Trump Account money get invested?
The money in your child's
account "will automatically be invested in American companies."
Kaitlyn McCormick is a Philadelphia-based reporter writing all things trending, breaking and city-related for USA TODAY's Philadelphia Metro Connect Team.
This article originally appeared on USA TODAY: Does my kid get a Trump account? How to check
