Treasury Department Announces Automatic Trump Account Creation for Millions of Children

The Treasury Department is automatically creating up to 60 million Trump Accounts for eligible children. The move will affect roughly 73 million children in about 44 million families. The temporary regulations on the accounts took effect yesterday, and automatic account enrollment will begin today. The Treasury said parents will still need to claim their child’s automatic account before the $1,000 contribution can be earned. Click here to view the guidance from the Treasury in the Federal Register.