En esta noticia
The United States Government will launch the new official benefit on July 4: the Trump Accounts, savings and investment accounts with tax advantages designed for minors. The Treasury Department will deposit US$1,000 of seed capital into each eligible account, and nearly 6 million children have already been enrolled before the launch.
What makes this benefit special is that, for the first time, minors will be able to start saving for retirement without needing to have their own income. Until now, that was impossible under the rules of the U.S. financial system.
How does the Government’s new benefit work?
The Trump Accounts —also called 530A accounts— function like a savings account where the money grows tax-free until the child turns 18. Family members, employers, and charities can contribute.
Who can contribute and how much?
- Parents, grandparents, and guardians: up to US$5,000 per year in after-tax dollars.
- Employers: up to US$2,500 per year, within the US$5,000 limit.
- Charities and local governments: can contribute without an annual limit.
- U.S. Treasury: deposits US$1,000 in seed capital per eligible account.
When the account holder turns 18, they can continue managing the account under the rules of a traditional IRA. Withdrawals before age 59½ are subject to penalties, except for exceptions such as buying a home or educational expenses.
Who can access it and how can you build a fortune for retirement?
Any minor in the United States can open a Trump Account. The biggest advantage in the long run is the possibility of converting those funds into a Roth IRA account, where the money grows and is withdrawn tax-free in retirement.
The key is to make that conversion when the account holder is young and has low income, since the tax due at that time will be minimal. In 2026, if the converted amount does not exceed US$16,100, the account holder may owe no federal taxes. However, there is a risk to keep in mind: minors under 18 and some dependents up to age 24 who convert more than US$2,700 could be taxed at their parents’ tax rate, which goes up to 37%.
What you need to know before opening an account
- Money deposited by the Treasury is taxed upon withdrawal as ordinary income.
- If the goal is to pay for college, a 529 plan offers better tax advantages.
- To cover the tax on the Roth IRA conversion, it is best to use outside funds: withdrawing money from the account itself triggers a 10% penalty.