Attention all Parents and Guardians in Eastern Washington!

Last year, with my support, Congress created the Childhood Investment Accounts, also known as “Trump Accounts’ under the ‘Working Families Tax Cuts Act’. The goal of these tax-advantaged investment accounts is to help families build long-term savings for children.

Children born between 2025 and 2028 will receive a one-time $1,000 seed contribution. In addition to the initial investment, families and others can contribute up to $5,000 a year to each account. 

More than 70 million children under 18 are now enrolled in these new accounts, which can receive contributions from the federal government, family members, employers, and other contributors. But parents need to claim the accounts first. Follow the easy steps below to claim your child’s account: 

  1. Visit TrumpAccounts.gov 
  2. Download and open the app and follow the instructions to claim your child’s account 
  3. Once activated, manage the account and read through opportunities for family members to contribute 

(Note: If you did not submit the related IRS form 4547 with last year’s tax return, you can do the digital equivalent directly inside the app)

In addition, Michael and Susan Dell committed $6.27 billion in private, non-taxpayer dollars, to provide $250 contributions to 25 million eligible children born between 2016 and 2024. These contributions were distributed based on zip code median family income, beginning with the lowest-income zip codes and expanding until 25 million eligible children were reached. All eligible children living on military bases, including Fairchild Air Force Base, were also included. 

My staff estimates that the Dell family’s $250 contribution is available to eligible children in roughly 86% of zip codes within Washington’s 5th District, offering over 75,000 of Eastern Washington kids a head start on college, technical training, opening a business or other investments for the future. 

Parents should visit the official U.S. Government Website to learn more about their child’s account, and verify at Invest America to see if your zip code qualifies for the Dell family’s $250 contribution. 

Don’t leave your child’s account unclaimed! Visit TrumpAccounts.org to learn more, claim an account, and explore how your family can contribute. 

Additional Background: 

  • Section 70204 of the Working Families Tax Cut Act created Childhood Investment Accounts, also known as “Trump Accounts” 
  • The Dell contribution is separate from other potential funds, including the federal contribution for eligible newborns and contributions from family members, employers, or other philanthropic sources 
  • Families can check eligibility and claim their child’s automatically generated account through the official portal at TrumpAccounts.gov or on the IRS website, where they can also validate whether the $250 contribution or other funds have been deposited 
  • Investments have the potential to grow over time through compounded returns 
  • Savings can help provide a foundation to future financial goals 
  • Accounts introduce children to the benefits of long-term savings and investing