- The information on this page is current as of June 4, 2026.
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.
Why do 530A accounts exist?
Why is it called a “Trump Account”?
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.”
When will 530A accounts open?
530A accounts will be fully available in July 2026, but you can sign up now. As of late May 2026, you can activate your account, you just can’t use it until July. See our page on how to sign up.
What if I have more than one child?
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.
I’ve heard 530A referred to as a “retirement account.” Why?
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.
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.