00:00It's Benzinga, bringing Wall Street to Main Street.
00:02About 5 million children have been enrolled in Trump accounts,
00:05and 1.2 million qualify for a $1,000 Treasury contribution, according to CNBC.
00:10President Trump enacted the tax-deferred accounts through his One Big Beautiful Bill Act,
00:15and they will officially launch on July 4th.
00:18All U.S. children under 18 with a Social Security number are eligible to open an account,
00:23while the $1,000 applies to children born between 2025 and 2028.
00:29Families could begin opening accounts during tax season by filing IRS Form 4547,
00:35and online submissions opened shortly after a Super Bowl ad.
00:39Companies and philanthropists have pledged to match contributions,
00:42while Bank of New York Mellon will manage accounts and partner with Robinhood on an app.
00:47For all things money, visit Benzinga.com.
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