The Trump Accounts app is now available for download on Apple $AAPL and Google $GOOGL app stores, the U.S. Treasury Department announced Thursday, roughly five weeks before the program's July 4 official launch.
Treasury designated the app as the program's primary interface, developed alongside Bank of New York Mellon $BK and Robinhood. In a video shared Thursday on X $TWTR, Treasury Secretary Scott Bessent described the app as something that "will place the American dreams into the palms of the hands of parents and children." Nearly 6 million children have been signed up for the accounts, Treasury said.
Starting Thursday, Treasury said it would send email instructions for finalizing account setup to parents and guardians who have already submitted IRS Form 4547 on TrumpAccounts.gov. To get started, users must enter the email address tied to their account application, along with a phone number and a newly created password. A screen then informs users that activation will happen on a rolling basis, with an email arriving from [email protected] once their account is ready. Treasury warned that phone calls and text messages referencing Trump Accounts should be treated as fraudulent.
The initial deposit from Treasury — up to $1,000 — could arrive as early as July 4, according to CNBC. That seed money is reserved for U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028. Once the program goes live on July 4, a range of family members and other contributors — including parents, guardians, and grandparents — may put up to $5,000 in post-tax money into the account each year, up to the year before the child's 18th birthday. According to the IRS, employer contributions are capped at $2,500 annually per employee, apply against the overall $5,000 limit, and are not treated as taxable income. Contributions must be held in broad U.S. equity index funds, Treasury said.
The app will also include eight financial literacy modules, according to ABC News.
As Quartz previously covered, BNY will manage the initial accounts while Robinhood serves as brokerage and initial trustee, with Treasury retaining control over the app and account operations. The program, established under the One Big Beautiful Bill Act, has drawn employer contribution pledges from companies including Nvidia $NVDA, Goldman Sachs $GS, and Uber $UBER.
A $6.25 billion commitment from Michael Dell $DELL and his wife, Susan Dell, would provide $250 to children aged 10 and younger who were born before Jan. 1, 2025, and reside in ZIP codes with a median household income at or below $150,000 — a group ineligible for the government's $1,000 seed deposit, according to CNBC.