Treasury Department begins automatic enrollment for new child investment accounts

The Treasury Department is creating 'Trump Accounts' for virtually every child born in 2009 or later who does not already have one. Treasury figures this automatic enrollment could result in over 60 million new accounts. New temporary regulations, which took effect on September 30, allow Treasury Secretary Scott Bessent to make the sign-up election for every eligible child automatically. The accounts are currently described as locked safe-deposit boxes, and funds will not be available until requested.

This policy change shifts the enrollment process for the 'Trump Accounts' from an opt-in requirement to an automatic enrollment for eligible children. The accounts are currently described as locked safe-deposit boxes, meaning the immediate economic impact is administrative rather than financial.