The Treasury Department has now created Trump Accounts for every eligible child, raising a host of considerations for parents and guardians. The new type of savings account is a custodial individual retirement account for children, with special rules until the year the child turns 18. For the next few years, the Trump Accounts come with $1,000 of seed money from the Treasury Department for newborns. That money will grow tax-deferred, with income taxes due upon withdrawal.
