MW Still waiting for the free $1,000 to hit your child's 'Trump account'? Here's what to know.
Andrew Keshner
Around $1.5 billion has been deposited into the accounts since their launch earlier this month, the Treasury Department said
President Donald Trump with a family on stage at an event in Marietta, Ga., on July 22, where he discussed the recently launched "Trump accounts."
"Trump accounts" have the potential to build generational wealth, and the big hook for new parents is the free $1,000 in starter money from the federal government.
There have now been 7 million sign-ups, and 1.7 million of those accounts are eligible for the $1,000 in seed money, according to fresh figures from the Treasury Department.
Almost $1.5 billion has been deposited in the accounts since their July 4 launch, according to the Treasury Department.
Several weeks into the rollout, the lofty goals of the accounts are being confronted by day-to-day realities. Some account holders have been wondering why they haven't gotten the $1,000 yet; others say they've gotten messages that their money is still being processed. It might take a little time for the $1,000 seed money to show up in some cases, financial advisers say.
See also: Your 5 biggest 'Trump account' questions, answered
On July 4, the tax-deferred investment accounts opened up for contributions from friends and family. Treasury Department officials said on the same day that the $1,000 seed money would begin to show up in accounts. In some instances, the $1,000 would show as pending or on the way, officials noted at the time.
"Government seed deposits move on government time," said Jeff Judge of Chesapeake Financial Planners in Forest Hill, Md.
Judge had six clients who opened their accounts after the July 4 launch. Their own contributions have been pretty quick to slide in, in one case showing up the same day as the contribution.
Yet "several clients expected that deposit to show up automatically once the account opened. It doesn't work that way," he told MarketWatch. It took between two and three days for the $1,000 to show up, according to one of his clients.
A reminder: Not every Trump account will get the free $1,000 - it's only for U.S. newborns born between 2025 and 2028. But any child who is under 18 and has a valid Social Security number can sign up for a Trump account.
It's useful to think of the $1,000 like an income-tax refund, according to the Treasury Department. There's some turnaround time involved.
Like an IRS refund, there's a standard processing time for the seed-money transfers, according to the Treasury Department. The transfer takes one to two days for nearly all parents signing up for an account, the Treasury Department said, adding that the agency is closely watching how long it takes for the money to arrive.
So far, the helpline for Trump accounts has received calls on 0.1% of the accounts, the Treasury Department noted. (The support line's phone number is 866-872-4547.)
With around 1 million sign-ups monthly in the six months leading up to the launch, a Treasury Department spokeswoman said the launch has been a major success. "Trump Accounts level the playing field by allowing every parent to invest in their children's future, not just wealthy families with trust funds," the spokesperson said.
Trump accounts are "hot as a pistol," President Trump told an audience in Marietta, Ga., on Wednesday. "The government gives them $1,000 at birth, and from there it just goes up and up and up, and lots of people, like the employers, can put money into their children's accounts of the employees," he said.
The biggest hurdles to all eligible families receiving the free $1,000 may be either a lack of public awareness or bureaucratic hurdles, some researchers have said. Currently, newborn children aren't automatically enrolled into the accounts. The Social Security Administration has said it is working to make that happen.
During tax season, households could enroll children by completing a certain form with their tax return. Though tax season is now done, people can still sign up for a Trump account through an IRS website. If someone doesn't have an authenticated IRS account already, getting started requires an account with ID.me, a business offering identity verification for government agencies, retailers and healthcare organizations.
Watch out for scammers and unsolicited emails offering to speed up seed-money transfers, verify eligibility or "fix" locked Trump accounts.
Michael DeMassa, founder and principal of Forza Wealth Management in Sarasota, Fla., recently started a Trump account for his teenage daughter. He wanted to go through the process to understand it for clients.
The ID.me part was the biggest hurdle, DeMassa said. He realized he needed a video verification, meaning he had to get on a video call with an ID.me representative to show that he was who he said he was. He came back several days later and waited around 15 minutes before the verification took place. Several days after that, his daughter's Trump account was activated, he said.
He noted the process to link his bank account and fund the Trump account was "straightforward." Still, "investors should expect a few business days for the bank verification and transfer to be completed," DeMassa said.
DeMassa plans to use the account as a starter on tax-efficient retirement savings for his daughter. For him, starting an account was easier than navigating the Treasury Department's TreasuryDirect.gov website to buy government bonds. That site, said DeMassa, is "horrendous."
Formally known as 530A accounts, Trump accounts are essentially individual retirement accounts for children. By law, the money has to be invested in low-cost index funds tracking the U.S. market. For now, the money is only going to one fund, the State Street SPDR Portfolio S&P 500 ETF SPYM.
Robert Schroeder contributed to this report.
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-Andrew Keshner
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July 25, 2026 11:20 ET (15:20 GMT)
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