Families added nearly $125 million to Trump Accounts in first five days

Families added nearly $125 million in personal contributions to Trump Accounts during the first five days after the contribution window opened on Saturday. Officials reported that 500,000 new accounts were opened during the same period, bringing the total number of opened accounts above 6.5 million.

Of the nearly $125 million contributed, 70 percent of deposits were under $250 and 60 percent were under $100. Officials said the distribution of small-dollar contributions shows participation across income levels.

Program background and features Trump Accounts are tax-deferred investment accounts for children. Parents, relatives, and employers may contribute up to $5,000 per year per account. Funds become available when the beneficiary turns 18. For children born between January 1, 2025, and December 31, 2028, the federal government deposits $1,000 into each account.

Officials said 1.4 million claimed accounts qualify for the federal contribution.

App performance and user feedback The Trump Accounts app reached the top spot in the Apple App Store and holds an average rating of 4.75 stars from nearly 3,500 reviews. Officials acknowledged isolated technical issues but stated that 99.9 percent of users encountered no problems.

A Treasury Department official said average wait times for customer support were 0.2 seconds by phone and 0.5 seconds by chat.

Additional contributions The administration has secured billions in private seed funding. One contribution of $6.5 billion will provide an extra $250 to 25 million accounts belonging to children under age 10 living in ZIP codes with median annual income below $150,000.