The U.S. Treasury Launches a Trump Account for Minors, with $1,000 in Seed Funding; Registration Opens July 4

The U.S. Treasury launched the Trump Account for minors, with $1,000 in seed funding. Registration opened on July 4, according to PANews. On June 26, the U.S. Treasury introduced the Trump Account, a tax-deferred retirement account for minors. The Treasury will deposit $1,000 in seed funding for newborns born between 2025 and 2028. After that, parents, relatives, employers, and account holders may deposit up to $5,000 per year, and employers may make an additional $2,500 contribution per child per year. The account’s assets will be primarily invested in low-cost U.S. stock index funds, and will automatically convert to an individual retirement account when the child turns 18. Registration opens on July 4.