Key facts
- Morgan Stanley and Goldman Sachs will match $1,000 contributions to "Trump Accounts" for eligible employees' children.
- The "Trump Accounts" will accept stock donations from individuals and corporations.
- The accounts are scheduled to launch on July 4, marking the U.S.'s 250th anniversary.
- The federal government will contribute $1,000 for children born between 2025 and 2028.
- Parents and guardians must open accounts using IRS Form 4547.
- The Treasury Department has selected five investment funds for initial cash contributions.
Morgan Stanley and Goldman Sachs announced they will match $1,000 contributions to "Trump Accounts" for eligible employees' children, with the program set to launch July 4. These government-backed newborn investment accounts, created as part of President Donald Trump's tax and immigration law, will also accept stock donations from individuals and corporations.
Officials stated that publicly traded shares can be transferred to the U.S. Treasury, which will then contribute the stock to the accounts according to donor instructions. Treasury Secretary Scott Bessent highlighted this as a pathway for large-scale private giving to support the next generation. Parents and guardians must open these accounts using IRS Form 4547, named for Trump, the 45th and 47th president. The accounts are not automatically created and require adult setup and investment choices.
The Treasury Department has identified five investment funds, tracking leading Wall Street indexes and popular with retail investors, where account holders can place the government's initial $1,000 cash contribution. President Trump himself holds between $7 million and $35.1 million in these same instruments, according to his financial disclosures. The accounts are designed for children born between 2025 and 2028, with the federal government contributing $1,000 for each eligible child. While the accounts offer tax advantages, they have fewer restrictions on fund usage compared to other youth savings plans, with taxes deferred until the account holder turns 18.