Treasury Secretary Scott Bessent speaks on the Treasury Department’s Trump Accounts Thursday during a press conference at the White House in Washington, D.C. (Alex Wong / Getty Images)
By Randy DeSoto May 29, 2026 at 1:12pm
The Trump Accounts app rocketed to the top of the Apple downloads Friday, a day after the app went live.
The Trump Accounts app ranked as the No. 1 finance download in the App Store, and it moved up from No. 4 to No. 3 overall, behind the AI sites ChatGPT and Claude by Anthropic.
Trump Accounts are a provision in last summer’s Big Beautiful Bill that provides $1,000 in seed money for every American newborn between 2025 and 2028 for the benefit of the child when he or she reaches adulthood.
The money will be invested in a low-cost index stock fund, and can be added to each year tax-free by others, including the parents’ employers.
The Trump Accounts app went from rollout to top download. pic.twitter.com/U0argjnwx3
— Yahoo Finance (@YahooFinance) May 29, 2026
During Thursday’s White House media briefing, Treasury Secretary Scott Bessent highlighted the app going live, telling reporters, “Trump Accounts, I believe, are the most important benefit for young people since the GI Bill. Today, the app is now available on all major platforms, bringing the president’s vision directly to American homes.”
“Nearly six million American children have been signed up already for Trump accounts, which will launch on July 4th,” he added. “I would encourage all of you to go to TrumpAccounts.gov to sign up.” The website has both a link to download the app, as well as access to online Form 4547 to start the account.
.@SecScottBessent: “@TrumpAccounts, I believe, are the most important benefit for young people since the GI Bill. Today, the app is now available on all major platforms, bringing @POTUS‘ vision directly to American homes.”
DOWNLOAD NOW: https://t.co/WswVIB4Upz pic.twitter.com/EUcQdhGeLM
— Rapid Response 47 (@RapidResponse47) May 28, 2026
Bessent said in a Thursday news release, “The Trump Administration is taking another step forward in expanding opportunity for American families. The Trump Accounts app delivers a simple, secure way for households to begin engaging with a program designed to build long-term financial strength from day one.”
“By putting easy access to Trump Accounts directly in the hands of parents and young Americans, we are helping to ensure that America’s youth are included in this new era of economic participation,” the secretary said.
The Treasury Department instructed that parents, guardians, and other authorized individuals may open an account by submitting IRS Form 4547.
Starting on July 4, accounts that are set up will receive $1,000 from the federal government and will also be eligible to accept other contributions from parents, family members, employers, and other eligible contributors, subject to annual limits.
Each child’s account — also known as 530A accounts — can take up to $5,000 in additional contributions each year, including up to $2,500 on a tax-free basis by a parent’s employer.
.@POTUS Trump and @HouseGOP created baby investment accounts to help families secure their children’s future and jumpstart the American Dream. The Trump Accounts app is live today. Learn more at https://t.co/xLRgRl2qHn. pic.twitter.com/sP1h7BHri7
— Rep. Nicole Malliotakis Office (@RepNicole) May 28, 2026
It should be noted that all Americans under 18, but born before 2025, are eligible to have an account set up for their benefit, but they will not receive the $1,000 in seed money from the federal government.
Further, CNBC reported, “Children 10 or under and born before Jan. 1, 2025 — who wouldn’t qualify for the $1,000 contribution — could get $250 if they live in a ZIP code where the median income is $150,000 or less, courtesy of a $6.25 billion pledge from tech CEO Michael Dell and his wife, Susan.”
The Treasury Department warned parents to be aware of potential scams during the Trump Accounts launch. All communications about an account’s status will only come by email from no-reply@TrumpAccounts.Treasury.gov.
“Treasury will not contact you by text message or phone call about Trump Account activation. If you receive a call or text about a Trump Account, do not respond, it is likely a scam,” the Department said. “Always access your child’s Trump Account by using the official Trump Accounts app or by typing TrumpAccounts.gov directly into your browser.”
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Randy DeSoto has written more than 4,000 articles for The Western Journal since he began with the company in 2015. He is a graduate of West Point and Regent University School of Law. He is the author of the book “We Hold These Truths” and screenwriter of the political documentary “I Want Your Money.”
Birthplace
Harrisburg, Pennsylvania
Nationality
American
Honors/Awards
Graduated dean’s list from West Point
Education
United States Military Academy at West Point, Regent University School of Law
Books Written
We Hold These Truths
Professional Memberships
Virginia and Pennsylvania state bars
Location
Phoenix, Arizona
Languages Spoken
English
Topics of Expertise
Politics, Entertainment, Faith
