Did anyone else receive this email from the Social Security Administration? This whole thing sounds like a scam. The philanthropist donor list is also…something too.
Last year, President Donald J. Trump signed into law the Working Families Tax Cuts, which included a historic tax cut for America’s seniors. That law also created Trump Accounts, individual investment accounts for America’s children designed to grow with the U.S. economy and build long-term savings.
Today, nearly 70 million Trump Accounts are open for all American children. Parents and legal guardians simply need to claim their child’s Trump Account through the official Trump Accounts app, available to download for free in the Apple App Store and Google Play.
Once activated, the account can receive funds from family, friends, and employers, as well as gifts from generous donors. Tens of millions of accounts already have money contributed by donors in them, just waiting to be claimed.
At Social Security, we are informing families about how they can activate their child’s Trump Account—many accounts with money already in them. We are also communicating with parents of newborns about the one-time $1,000 contribution from the U.S. Treasury, available to children born between Jan. 1, 2025, and Dec. 31, 2028.
Trump Accounts are one of the most significant investments in the next generation of Americans in our nation’s history, by giving every American child a stake in our country’s success and a strong financial foundation for the future.
To learn more about Trump Accounts, visit TrumpAccounts.gov.
From what I’m guessing they are essentially merging a custodial account like Charles Schwab offers, and saying to enroll you can do so while filling your taxes. Only kids born 2025-now would get a 1 time account opening bonus kind of like when you open a checking/savings or other promotional account.
So while they are saying the accounts are opened with money already in them that would be a vast stretch of the truth. Also since there has really only been about 5,000,000 births since 2025, the other 65,000,000 accounts they are claiming would not be eligible for getting any kind of bonus.
That said this information would be coming from Chime who is partnering with them and they do not appear to be confident in it either: https://help.chime.com/account-security-00b00e5a/taxes-7d96431b/what-is-a-trump-account-66939cc7
"The $1,000 seed contribution Children born between January 1, 2025 and December 31, 2028 may receive a one-time $1,000 seed contribution from the U.S. Treasury. Children born before 2025 can still have a Trump Account opened but will not receive the seed contribution.
About the seed contribution: The $1,000 is paid by the U.S. Treasury — not Chime. It is not part of your tax refund and does not go to your Chime account. It goes directly into your child’s Trump Account and is expected to be issued in summer 2026."
Thanks for the added context. So many grifters involved. Smh.