U.S. Senator Ashley Moody met with Florida mothers and students at a local school Friday to promote the launch of “Trump Accounts,” a new childhood investment initiative created under the Working Families Tax Cuts.
The program allows parents and guardians to establish tax-advantaged investment accounts for eligible children under the age of 18. The accounts are held in the child’s name but managed by an authorized adult until the minor reaches adulthood.
Under the pilot phase of the program, a one-time $1,000 contribution is available to eligible U.S. citizen children who have a valid Social Security number and were born between January 1, 2025, and December 31, 2028.
“These accounts will give the next generation a jumpstart on the American Dream,” Senator Moody said during the event. “I fought for this benefit for Florida families and it was exciting to bring this message to a room full of moms and their children today, as we work together to invest in the future of Florida.”
To enroll, parents and guardians must sign into or create an IRS account using ID.me and submit IRS Form 4547, titled the Trump Account Election. Applications can be processed through IRS.gov/TrumpAccounts, TrumpAccounts.gov, or via the official Trump Accounts mobile application.
Starting July 4, 2026, these accounts will open for additional contributions from family members, employers, and other eligible individuals, subject to annual maximum limits.
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