We opened Trump Accounts for our children to take advantage of the advertised $1,000 government seed deposit. On July 4, 2026, Trump Accounts officially launched, and eligible account holders began receiving the $1,000 seed deposit.
After opening our accounts, we learned that the government seed deposit is only available for children who meet specific eligibility requirements.
- Birth Date: Born between January 1, 2025, and December 31, 2028
- Citizenship: Must be a U.S. citizen
- Identification: Must have a valid Social Security Number (SSN)
- Account Status: The Trump Account must be officially established before the calendar year in which the child turns 18
If your child was born before January 1, 2025, they are not eligible for the government-funded seed deposit.
TurboTax Users May Have Opened Accounts Without Qualifying
If you prepared your tax return using TurboTax, you may have been guided through opening a Trump Account before realizing that your child was not eligible for the $1,000 government contribution.
If that happened to you, you're not alone. We also opened accounts expecting our children to qualify, only to later discover they did not meet the birth date requirement.
Can You Delete or Close a Trump Account?
As of the date this article was published, there is no option on the Trump Account website to delete or close an account.
We contacted Trump Account customer support to ask about permanently closing our accounts.
Trump Account Support Contact Information
According to customer support, you can currently contact them by:
- Live chat
- Phone: 1-866-USA-4547
Live agents are available 7:00 AM to 10:00 PM Eastern Time, excluding stock market holidays. A virtual assistant is available 24 hours a day, 7 days a week.
What Customer Support Told Us
Customer support provided the following response:
"At the moment, Trump Accounts aren't able to be closed. However, there are no fees to keep your account open. If the account stays with a $0 balance, it will remain active while your child is a minor but will automatically close when your child turns 18."
We also asked whether account deletion would become available in the future, but no timeline was provided.
Privacy Concerns
Some users may find it concerning that there is currently no process to permanently close or delete a Trump Account after it has been opened. Depending on your expectations regarding account management and personal information, this may influence your decision to open an account.
Limited Investment Options
Another limitation we discovered is that contributions are currently automatically invested in the SPYM fund. As of this writing, account holders do not have the ability to choose different investment options or manage their own portfolio allocations.
Have You Had a Similar Experience?
Did you open a Trump Account expecting to receive the $1,000 government seed deposit, only to discover your child was not eligible?
What do you think about the inability to close an account or choose your own investments?
Share your experience in the comments below. We'd like to hear whether your experience was similar and what you think about the current Trump Account program.
Do you feel mislead by the Trump Account promotion? Spread awareness and share this article if you feel cheated out of the seed deposit and from an investment vehicle offering no control of your money as of now.