Trump accounts for children explained: Trump Accounts launch in 2026 for children born 2025–2028. Each starts with a $1,000 federal deposit. Families can add up to $5,000 yearly. Money grows tax-free. Withdrawals face limits and penalties. Small contributions may trigger IRS Form 709. Parents can begin enrollment during the 2025 tax season. However, new IRS Form 4547 complicates filings. This shift impacts FAFSA eligibility and future tax brackets significantly.