600,000 Families Sign Up for Trump Accounts Amid Tax Season Surge
By John Nada·Jan 28, 2026·2 min read
600,000 families have signed up for Trump accounts since the tax season began, indicating a strong interest in financial security. This initiative could reshape savings for many.
In a significant move, Treasury Secretary Scott Bessent announced that 600,000 families have already applied for Trump accounts since the tax season began. This figure comes from an estimated 25 million families eligible to sign up. Bessent emphasized the initiative during an interview with CNBC, urging all Americans to take advantage of this opportunity. Trump accounts, also known as Section 530A accounts, allow families to make elections on IRS Form 4547, which is now available for filing tax returns for 2025.
Low-income families often file early to secure tax refunds, and this year’s discussions around potentially larger refunds may have spurred interest in the accounts. Applications can also be submitted via Trumpaccounts.gov, expected to launch mid-2026, though contributions will not start until July. The IRS has clarified that the quickest method to establish an account is through the current-year e-filed tax return.
Once activated, children born from 2025 to 2028 could receive a one-time $1,000 contribution from the Treasury. There are no income limits, broadening access for families. Additionally, parents can contribute up to $5,000 annually for their children until they turn 18. The initiative has garnered attention from notable figures, including rap artist Nicki Minaj, who has pledged support.
The rapid sign-up rate indicates a growing interest in financial security options among families, highlighting the potential impact of governmental financial programs. As families look for ways to secure their financial futures, Trump accounts could serve as a vital resource, fostering savings and investment in education and home ownership.