The Trump Accounts program, launched in 2025, deposits $1,000 into retirement savings accounts for every child born during Donald Trump’s second term. The initiative aims to promote long-term wealth building, especially among families with limited investment experience. However, participation is voluntary and tied to tax filing, requiring families to submit IRS Form 4547. As of May 2026, only 1.4 million of the roughly 3.6 million babies born in 2025 have enrolled, raising concerns about equity and access. Researchers and policy experts argue that automatic enrollment—already used in state-level retirement programs—would dramatically increase participation, especially among low-income households who are less likely to navigate new paperwork.

Critics warn the current opt-in model risks making Trump Accounts a subsidy for wealthier families, who are more likely to file taxes and already participate in retirement savings. Historical data supports this: only about half of workers earning $15,000 to $30,000 annually participate in 401(k) plans, compared to 95% of those earning over $150,000. The Urban Institute and researchers from Washington University in St. Louis have urged the Treasury Department to automate enrollment, citing Maine’s Alfond Grant program, where participation jumped from 40% to 100% after switching to automatic sign-up.

The program also includes private contributions: philanthropists Michael and Susan Dell pledged $250 to the first 25 million applicants under age 10 in lower-income ZIP codes. The federal government estimates a $1,000 contribution could grow to $243,000 by age 55, assuming average market returns. Still, experts note that small accounts are often forgotten or lost, especially when tied to early life events. With 73 million children potentially eligible if enrollment were automatic, advocates say the current system leaves behind the very families it was designed to help.