Trump Administration Launches TrumpAccounts App With BNY Global and Robinhood

App Goes Live Ahead of July 4 Rollout

The @TrumpAccounts app is now available across all major app stores, marking a significant step in the Trump administration's national family wealth initiative. Developed in collaboration with @Ndstudio, @BNYglobal, and @RobinhoodApp, the platform gives American households a digital portal to access and manage government-backed children's investment accounts ahead of the program's formal activation on July 4.

The app is billed as "a secure, user-friendly platform that will enable families to easily access and manage their accounts," according to a Treasury Department news release, which also states the Treasury Department will retain control of the app and its operations. Families who have already enrolled will be able to activate their accounts immediately, and account holders will gain access to financial literacy materials.

Nearly 6 million families have already signed up for the tax-advantaged accounts, which will officially go live on July 4. Those interested in opening an account can do so through the app, trumpaccounts.gov, or by filing Form 4547 on their tax return.

What Are Trump Accounts?

The Trump Accounts, officially known as 530A accounts, are designed to provide long-term investment exposure for children born between Jan. 1, 2025, and Dec. 31, 2028. Eligible U.S. citizens with Social Security numbers will receive a $1,000 federal contribution, and parents, relatives, employers, and charities can collectively contribute up to $5,000 annually. The default investment option at launch will be an S&P 500 exchange-traded fund.

Robinhood has been tapped as brokerage and initial trustee for the accounts, and will work with BNY, which has been selected by the U.S. Department of the Treasury as financial agent. Working alongside BNY, Robinhood will develop and operate the infrastructure required to make Trump Accounts a reality, including providing the necessary technology, building an intuitive front-end experience, creating educational resources, and managing customer support.

Children can access the money when they turn 18 to use for specific purposes, such as paying tuition, starting a business, or making a down payment on a home. Dozens of major corporations in America have announced plans to match federal contributions for their employees' children, including SoFi Technologies and Intel.

Treasury Secretary Scott Bessent described the initiative as one that "will place the American dream into the hands of parents and children," calling it "the most important government benefit for young people since the G.I. Bill."

Sources:
Robinhood Newsroom: Robinhood Tapped as Brokerage for Trump Accounts
BNY Press Release: BNY Named Financial Agent for Trump Accounts
ABC News: Financial App for Managing Trump Accounts Set to Launch Thursday