Here's a sentence you don't read every day: the federal government is about to sign up tens of millions of kids for an investment account, whether their parents fill out a form or not.

The Treasury Department will automatically enroll more than 60 million additional children in Trump Accounts, potentially bringing the program to about 70 million accounts.

Trump Accounts Auto-Enrollment

On Tuesday, the Treasury Department released new rules that eliminate the need for parents to initially sign up their children for Trump Accounts, expanding access to the investment program.

Treasury said more than 60 million additional children under 18 will be automatically enrolled. About 7 million children have signed up so far, out of roughly 73 million eligible children.

Treasury Secretary Scott Bessent said earlier this month that the number of accounts could reach about "70 million because we will go to auto-enroll," reported The Hill.

Trump Accounts Launch

President Donald Trump highlighted the launch of Trump Accounts in July. The tax-deferred investment accounts were created for eligible U.S. children under 18, with those born between 2025 and 2028 eligible for a one-time $1,000 Treasury contribution.

Parents, guardians, and other authorized individuals could open one account per child, with contributions invested in a fund that tracks the S&P 500.

Beginning July 4, 2026, families and others could contribute up to $5,000 annually per child, while employers could contribute up to $2,500.

Trump Accounts Expansion

Earlier this month, Trump Accounts received backing from billionaires including Michael Dell and Ray Dalio, with Dell pledging $6.25 billion and Dalio offering to match $250 donations for eligible Connecticut children.

Bessent also launched a "50 State Challenge" to encourage more philanthropic support, while Elon Musk said he would not contribute.

Last month, Robinhood Markets Inc. (NASDAQ: HOOD) CEO Vlad Tenev said the accounts gave children access to the S&P 500 through a low-cost State Street ETF, to introduce investing from birth.

In July, Internal Revenue Service CEO Frank Bisignano said the government aimed to enroll all 70 million children under 18, with officials working with tax-preparation companies and banks to simplify enrollment. At the time, about 6.5 million children had enrolled.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.