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The government recently announced changes to how 530A accounts are opened. We're updating the site with the latest details. Come back soon.

What is a 530A account?

A 530A account is a new investment account for children. Learn how these accounts work, and why these accounts were created. See How does a 530 account work? for rules about when money can be taken out and how it can be used.
The 530A program was created to help children have some savings when they become adults. The money may help pay for things like college, buying a home, or certain emergencies later in life.
Congress named these accounts “Trump Accounts” when they were created in July 2025. The name was meant to connect the policy to the Trump administration. Despite the name, the President is not personally involved with these accounts. The accounts are not run by his companies, and the money does not come from his personal funds. A similar example is how people refer to health insurance policies created in 2010 as “Obamacare.”
530A accounts are available now. See our page on how to sign up
Each 530A account is for an individual child. You must open a separate account for each of your children. You can’t create a pooled 530A for your family.

Once your child turns 18, their 530A becomes an Individual Retirement Account (IRA), a common type of retirement savings account. Like all IRAs, they can access the money before they retire, but it must be used for certain things to avoid paying a penalty. Read more about these limits here.

Learn more about how 530A accounts work and how the money can be used here.

Haven't filed your taxes? You might be leaving money on the table

You may want to file a tax return even if you did not work or earned very little income. Filing taxes may help your family access benefits, tax credits, and a 530A account.

See free tax filing options