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IRS says more than 4 million children have enrolled in Trump Accounts

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More than four million children have been enrolled in newly created Trump Accounts, the Internal Revenue Service (IRS) said Tuesday, marking a major rollout of the administration’s savings initiative.

Additionally, the IRS said more than one million children are covered by elections for the $1,000 Trump Accounts pilot program contribution.

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Trump Accounts were created under the “One Big Beautiful Bill Act” last year, and contributions can begin July 4, 2026.

“The IRS has been working closely with the Treasury Department to make the election process as simple and easy as possible by permitting taxpayers to fill out a one-page form when they file their tax return,” IRS Chief Executive Officer Frank J. Bisignano said in a statement. “Families with eligible children born between 2025 and 2028 just need to check the box on a form to stake their claim for the $1,000 contribution. It’s that simple.”

IRS UNVEILS PROPOSED REGULATIONS FOR NEW TRUMP ACCOUNTS SAVINGS PROGRAM

A screenshot of the Trump Account's homepage.

A screenshot of the Trump Accounts’ homepage. (White House)

The new data is based on how many Form 4547, “Trump Account Election(s),” have been submitted with individual tax returns to date, according to the IRS.

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To create a Trump Account and enroll in the pilot program with their 2025 tax return, parents can fill out IRS Form 4547.

The accounts will be available to every American child born between Jan. 1, 2025, and Dec. 31, 2028, and will include a $1,000 seed contribution invested in an index fund. They can be created for anyone who has not turned 18 before the end of the calendar year in which the election is made and has a valid Social Security number.

Each account is in the child’s name and is controlled by parents until the child reaches age 18.

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President Donald Trump

President Donald Trump speaks on stage at Verst Logistics on March 11, 2026 in Hebron, Kentucky. (Andrew Harnik/Getty Images / Getty Images)

While no contributions are required, up to $5,000 can be deposited into the accounts per year.

The U.S. Treasury previously estimated that Trump accounts could accumulate significant savings if families maximize contributions and allow the funds to grow.

For example, a fully funded account could reach as much as $1.9 million by age 28, according to the Treasury’s Office of Tax Analysis. At the lower end of projected returns, the account could still yield nearly $600,000 over the same period.

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President Donald Trump speaks during the Trump Accounts Launch Summit in Washington, D.C., on Wednesday, Jan. 28, 2026. (Valerie Plesch/Bloomberg via Getty Images / Getty Images)

Without additional contributions beyond the federal government’s initial $1,000 deposit, it is estimated that the account could grow to between $3,000 and $13,800 over 18 years.

Children can receive contributions from parents, relatives, friends, employers, state governments and philanthropic organizations, according to the IRS.

Since the Trump Accounts were first unveiled, numerous major companies have expressed support for the initiative and announced plans to match the government’s $1,000 contribution for eligible employees’ children.

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Scott Bessent speaks at a podium during a formal summit event.

Treasury Secretary Scott Bessent speaks during the Trump Accounts Launch Summit in Washington, D.C., on Jan. 28. (Valerie Plesch/Bloomberg via Getty Images / Getty Images)

More information about Trump Accounts can be found at trumpaccounts.gov.

FOX Business has reached out to the White House for comment.

FOX Business’ Amanda Macias and Emma Colton contributed to this report.

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What is happening to gas and electricity prices?

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What is happening to gas and electricity prices?

Typical household bills fell by 7% when the new energy cap took effect on 1 April 2026.

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JFB Construction stock rises on XTEND defense contract win

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JFB Construction stock rises on XTEND defense contract win

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Concorde museum Aerospace Bristol appoints first chief operating officer

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Business Live

The visitor attraction is looking to double visitor numbers and boost revenue growth

Lloyd Hughes is the new chief operating office of Aerospace Bristol

Lloyd Hughes is the new chief operating office of Aerospace Bristol(Image: Aerospace Bristol)

Aerospace Bristol has appointed its first chief operating officer as it pursues an ambitious 10-year strategy to double visitor numbers and grow its commercial operations. Lloyd Hughes will take responsibility for the day-to-day running of the Filton site, which is home to Concorde.

He will lead the museum’s visitor experience, finance, commercial and operations functions, and will help deliver and evolve the commercial strategy, including driving revenue growth across events and venue hire, ticket sales, retail and hospitality.

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Mr Hughes, who was previously a director at vet charity PDSA and has led commercial activities at organisations such as English Heritage, will also deputise for the chief executive and represent Aerospace Bristol at industry and networking events.

He said: “Aerospace Bristol is an extraordinary place – one that sits at the heart of a globally significant industry and tells stories about the wonders of flight to inspire people of all ages.

“I’m hugely excited to be joining at such a pivotal moment – there is enormous potential to grow both the commercial reach and resilience of the museum, and I’m looking forward to working with the brilliant team here to unlock it.”

Aerospace Bristol said the newly created position reflected its “determination to build a sustainable, high-performing organisation” and grow visitor numbers.

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Sally Cordwell, chief executive of Aerospace Bristol, said: “This is a landmark appointment for Aerospace Bristol. Lloyd brings exactly the blend of commercial sharpness and charity sector understanding that we need as we look to deliver on our 10-year growth strategy.

“Creating this COO role signals our intent – we are serious about being an organisation that is operationally excellent, commercially strong and well positioned to serve our visitors, our community and the story of flight for decades to come. We’re delighted to welcome Lloyd into our team.”

Aerospace Bristol is based in Patchway on Bristol’s northern edge and is run by the Bristol Aero Collection Trust. The museum exhibits the Concorde Alpha Foxtrot, the final Concorde plane to be built and the last to fly.

Concorde’s airframe and engines were largely developed in Bristol, where its UK assembly line was located, while all UK Concordes made their maiden flight from the former Filton airfield site near the museum.

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Karren Brady Leaves West Ham United After 16 Years as Vice-Chair

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Karren Brady Leaves West Ham United After 16 Years as Vice-Chair

Baroness Karren Brady has stepped down as vice-chair of West Ham United, drawing the curtain on one of British football’s most enduring executive careers and severing a commercial partnership with joint-chair David Sullivan that has spanned close to four decades.

The 57-year-old peer, broadcaster and businesswoman had served on the Hammers’ board for 16 years. Her exit arrives at a delicate juncture for the Premier League club, where supporter discontent with the boardroom has hardened into a regular feature of matchdays. Chants directed at the ownership rang out again on Sunday evening during the side’s draw at Crystal Palace, the latest in a string of organised protests that have overshadowed a season spent flirting with the relegation places.

For those who have followed Brady’s career since the early 1990s, the decision marks the end of an era. It was Brady, then just 23, who convinced Sullivan to acquire Birmingham City in 1993, taking the managing director’s chair herself and becoming one of the youngest executives to run a professional football club anywhere in Europe. That appointment laid the foundations for a business relationship that has outlasted most in British sport.

In a statement released by the club, Brady said: “It has been a privilege to work alongside the board, management, players, staff and supporters at West Ham United. Together we have achieved remarkable milestones, but the highlight for me will always be lifting the Uefa Europa Conference League trophy, a moment that will stay with me forever. I am deeply grateful for the relationships, challenges and opportunities that have shaped my time at the club.”

She added: “While this chapter closes, my passion for football and commitment to supporting the next generation of leaders remains undiminished. I wish West Ham United every success for the future and look forward to following their continued achievements with pride.”

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Brady has drawn heavy criticism from the stands alongside Sullivan this season, with the pair cast by sections of the fanbase as the architects of a prolonged period of under-investment on the pitch. The Hammers currently sit a single place and two points clear of the drop, steadied by the recent appointment of Nuno Espirito Santo as head coach.

A long-serving columnist for The Sun and aide to Lord Sugar on the BBC’s The Apprentice, Brady is understood to be redirecting her attention toward her broader portfolio of business interests and her duties in the House of Lords, while retaining her place in the boardroom of the hit entertainment format.

Her tenure at West Ham will be remembered as much for corporate manoeuvring as for sporting achievement. She was widely regarded as the driving force behind the club’s contentious relocation from Upton Park to the London Stadium in the wake of the 2012 Olympics, a deal that has divided opinion but radically rewired the Hammers’ commercial footprint.

Sullivan paid tribute to his long-time lieutenant, saying: “Karren has been an exceptional leader and a key figure in the club’s development over the years. We wish her every success in her future endeavours and thank her for her outstanding contribution over the past 16 years.”

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Joint-chair Daniel Kretinsky, who joined the ownership group in 2021, was similarly effusive. “I want to thank Karren most sincerely for our collaboration since 2021, and for all the work she has done in the past for the club,” he said. “Her contribution to West Ham United’s growth, such as the long-term contract for the London Stadium, shareholders transition and the British record transfer of Declan Rice, has been absolutely essential and not always fully appreciated. Karren is also very highly appreciated in the Premier League leadership community and was an excellent representative of our club there. I wish her the best of luck in all future activities.”

Brady’s departure leaves a sizeable gap at the top of the club, both in terms of institutional memory and Premier League influence. For Sullivan and Kretinsky, the challenge now is twofold: to steady a restive fanbase and to recruit a successor capable of matching her standing in the game’s corridors of power. West Ham United has been contacted for further comment.


Jamie Young

Jamie Young

Jamie is Senior Reporter at Business Matters, bringing over a decade of experience in UK SME business reporting.
Jamie holds a degree in Business Administration and regularly participates in industry conferences and workshops.

When not reporting on the latest business developments, Jamie is passionate about mentoring up-and-coming journalists and entrepreneurs to inspire the next generation of business leaders.

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Uni staff strike for cost of living 'weighting'

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Uni staff strike for cost of living 'weighting'

Library, museum, finance and IT staff are among members of Unite taking action over pay.

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Rising stars on D-St: Senco Gold among 15 stocks with up to 50% upside scope

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The Economic Times

Indian stock markets continue to recover from the incessant selloff in March, with Sensex and Nifty rebounding sharply. As investors continue to re-evaluate their portfolios, SBI Securities named 15 stocks as its ‘rising star’ recommendations. Check out the list of stocks named by the domestic brokerage and their upside potential from the previous closing price.

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At Close of Business podcast April 21 2026

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Wells Fargo raises SM Energy stock price target on production outlook

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