MONTGOMERY, Ala. (WDNews) — Governor Kay Ivey is encouraging Alabama families to participate in Trump Accounts, a new program designed to help children build long-term financial security through tax-advantaged investment accounts.
The accounts are scheduled to launch July 4, 2026, and will be available to U.S. citizens under the age of 18.
“As we prepare to celebrate America’s 250th birthday, I thank President Trump for championing an initiative that invests in the future of our nation’s children,” said Governor Ivey. “Trump Accounts will give Alabama families a unique opportunity to help their children take an early step toward achieving the American Dream. I encourage parents and grandparents across the state to take advantage of this opportunity and help give the next generation a strong start.”
According to information released by the governor’s office, every American child born between Jan. 1, 2025, and Dec. 31, 2028, will receive a $1,000 contribution from the U.S. Treasury into a Trump Account.
Officials say the accounts are intended to grow over time through investment earnings and optional contributions. The funds can be used when the child reaches age 18 for major life expenses such as purchasing a first home or pursuing higher education.
Individual contributions of up to $5,000 per year may be added to the accounts to help increase growth potential.
State officials say the program is also intended to provide children with an opportunity to learn about investing and long-term financial planning. Once the account holder turns 18, control of the account transfers to them, and they may either use the funds or allow the account to continue growing.
To participate, families can complete IRS Form 4547. Additional information is available through the Trump Account call center at 866-USA-4547 or online at trumpaccounts.gov.
