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The U.S. Department of the Treasury said Monday it has selected Bank of New York Mellon Corporation to manage the initial rollout of “Trump Accounts,” a new investment program for American children set to launch in July.
Treasury officials said the bank will work with Robinhood to develop a mobile app for the accounts, which are designed to function similarly to trust funds or individual retirement-style investment accounts for minors.
Under the program, created through the “One Big Beautiful Bill,” parents and guardians will be able to contribute up to $5,000 annually beginning in July. The federal government will also provide a one-time $1,000 contribution for children born between Jan. 1, 2025, and Dec. 31, 2028.
Treasury said Robinhood will serve as the brokerage partner and initial trustee for the accounts, while the department will maintain overall control of the platform and its operations.
“Together, these partners will support Treasury’s goal of ensuring every eligible child can access a Trump Account quickly and easily,” the department said in a statement.
Funds in the accounts will be invested in the U.S. stock market and are intended to grow over time, with account holders gaining access at age 18. The program also includes an educational component aimed at teaching financial literacy and investment skills.
According to reports, more than 4 million children have already been enrolled in the program, and nearly 1 million have qualified for the initial $1,000 government contribution as of late March.
The Trump Accounts program is set to officially launch on July 4, 2026, though families can already open and manage accounts online at TrumpAccounts.gov or through their tax filings using an IRS form. Enrollment will be handled primarily through the website and a dedicated mobile app.
The initiative represents a broader effort by the administration to encourage long-term savings and investment among younger Americans.
