Over 500,000 American families have already opened Trump Accounts for their children since tax season started just days ago. Now, major employers are racing to sweeten the deal with matching contributions that could double the federal government’s $1,000 gift.
Intel announced Tuesday it will match the $1,000 federal contribution for eligible children of U.S. employees born between 2025 and 2028. JPMorgan Chase and Bank of America followed Wednesday with identical pledges.
“By matching the federal government’s contribution, Intel is reinforcing our longstanding commitment to investing in our people,” Intel CEO Lip-Bu Tan said in a statement.
The announcements came during a Treasury Department summit where President Trump urged all American employers to offer Trump Account matching as a standard benefit. The list of participating companies now includes BlackRock, Charles Schwab, Uber, IBM, Coinbase, Chipotle, and Comcast, according to Treasury Secretary Scott Bessent.
What Parents Need to Know Right Now
The Trump Account program, officially called Section 530A accounts, gives $1,000 in free money from the U.S. Treasury to children born between January 1, 2025, and December 31, 2028. The child must be a U.S. citizen with a Social Security number.
Parents can claim this money by filing IRS Form 4547 with their 2025 tax return starting January 26. An online portal at trumpaccounts.gov will launch in mid-2026.
With employer matches, eligible families could receive $2,000 in seed money without contributing a single dollar themselves. Treasury projections show this initial $2,000 could grow to approximately $11,600 by the time the child turns 18, assuming historical stock market returns.
The money gets invested in low-cost index funds that track the broader U.S. stock market and cannot be withdrawn until the child reaches age 18. At that point, the account converts to a traditional IRA.
Families can also contribute up to $5,000 per year in after-tax dollars. Employers can add up to $2,500 annually tax-free for employees. These contributions must be invested in funds tracking indexes like the S&P 500 with annual fees under 0.1%.
Treasury Secretary Bessent told CBS News that maximum contributions could grow to over $300,000 by age 18. Even the federal seed alone could reach $5,800 without any additional deposits.
Additional Money for Older Children
Children born before 2025 don’t qualify for the federal $1,000, but may receive private donations. Tech CEO Michael Dell and his wife Susan pledged $6.25 billion to deposit $250 for up to 25 million American children age 10 and under living in ZIP codes where median income is below $150,000.
Hedge fund manager Ray Dalio announced $75 million for Connecticut children meeting similar criteria. Investor Brad Gerstner pledged $250 for every child under 5 in Indiana.
Actual contributions won’t begin until July 4, 2026—America’s 250th anniversary. But parents must elect to open accounts now to claim the federal money and employer matches.
Financial advisors warn that lower-income families may miss out if they don’t file tax returns or aren’t aware of the program. Critics also note that wealthier families who can afford maximum contributions will see the greatest benefits, potentially widening the wealth gap.
“It’s not clear to me how likely that is to help wealth building writ large,” said Madeline Brown, senior policy associate at the Urban Institute, noting that employer matches mostly benefit higher-income workers at financial firms.
The IRS released official guidance in December through Notice 2025-68, which provides details on account setup, contribution rules, and investment restrictions.
Parents who don’t file Form 4547 this tax season can wait for the online portal launch this summer. But those seeking employer matches should check with their HR departments about specific deadlines and eligibility requirements.
