# Nearly 70 million kids now have Trump Accounts > The Treasury finished auto-enrolling eligible children, but parents must claim accounts to access the $1,000 government seed deposit. - Title: Nearly 70 million kids now have Trump Accounts · Fortune - Summary: The Treasury finished auto-enrolling eligible children, but parents must claim accounts to access the $1,000 government seed deposit. The Trump… - Keywords: trump accounts, treasury department, child savings, tax-advantaged accounts, government benefits, automatic enrollment, Nearly, million, kids, Trump, Accounts, Fortune - Source: Fortune — https://fortune.com/2026/10/12/trump-accounts-70-million-kids-auto-enrolled-how-to-claim-1000 - Author: Fernanda Tronco - Read time: 2 min - Topics: trump accounts, treasury department, child savings, tax-advantaged accounts, government benefits, automatic enrollment ## Seventy million accounts created The Treasury Department finished auto-enrolling eligible children on October first, creating accounts for more than sixty million kids who didn't already have one. ## Parents must claim to unlock benefits Having an account doesn't mean it's ready to use. A parent or guardian must claim it through the Trump Accounts app before managing it or collecting the government's one thousand dollar seed deposit. ## Automatic enrollment followed slow uptake Before the change, Treasury had processed about five point six million sign-up forms, less than a tenth of the roughly seventy three point four million children eligible. ## Four point five billion already deposited Since the program launched on July fourth, more than four point five billion dollars has been deposited into Trump Accounts, including one point three billion in government seed contributions and two point six billion in… ## Dell family pledges six point two five billion Much of the philanthropic money comes from Michael and Susan Dell's six point two five billion dollar pledge, which provides two hundred fifty dollars to up to twenty five million children age ten and under… ## Stock donations come with restrictions Treasury accepts large philanthropic donations of publicly traded stock, but shares must be held for at least five years before they can be sold. ## Single stocks concentrate portfolio risk Single-stock gifts can give children a stake in corporate growth, but they also concentrate risk. > A child could, hypothetically, receive $10,000 of Company X stock and suddenly at least 67% of the minor's portfolio is concentrated in Company X. ## Critics say wealthy families benefit most Stanford economists argue the program's biggest winners will be families who can afford to contribute thousands of dollars a year, though the White House says eighty percent of accounts are linked to families earning less… > The program may be open to every child, but its benefits will flow overwhelmingly to families with the means to contribute thousands of dollars a year. ## How to claim and what happens at eighteen Parents can claim accounts through the Trump Accounts app.When a child turns eighteen, the account becomes a traditional IRA.Withdrawals are taxed as ordinary income, and early withdrawals may face penalties unless used for qualifying expenses. ## Key takeaway The Trump administration auto-enrolled nearly seventy million children in tax-advantaged Trump Accounts, though parents must claim them to receive the one thousand dollar seed deposit.